Aurizon gets millions more
AURIZON shares have risen as the regulator offered it a better deal on how much it can make from its monopoly coal network in Queensland.
The Queensland Competition Authority has released its long awaited final decision - a massive 460 page document - that allows Aurizon to earn $4.12bn over four years.
That is about $230m more than previously granted but still $769 million short of what the rail operator had asked for originally.
It follows a two year battle between Aurizon and the QCA including Supreme Court action which Aurizon lost in October.
Aurizon has 60 days to respond and on Friday declined to say if it would comply.
"We will review the Final Decision in detail and make a determination regarding any potential impact on operating practices," a spokesman said.
Shares closed up 1.38 per cent at $4.42 and industry analysts commented that it was a more positive decision than expected, however they also said a judicial review by Aurizon was now likely.