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Weighted Average Cost of Capital

Each year the Railways Access Code requires the ERA to determine the Weighted Average Cost of Capital to be applied in the determination of floor and ceiling cost prices for the regulated rail networks.

Every five years the ERA consults on the Determination. Information on these reviews is available below.

Date Documents File type
06-Oct-17 2017 Determination - Urban, Freight and the Pilbara Railways (including The Pilbara Railway and the Roy Hill Infrastructure railways)
Adobe PDF 754 kB
28-Oct-16 2016 Determination - Urban, Freight and the Pilbara Railway 
Adobe PDF609 kB
18-Sep-15 2015 Determination - Urban, Freight and the Pilbara Railway
Adobe PDF3.4 MB
24-Oct-14 2014 Determination - Urban, Freight and the Pilbara Railway
Adobe PDF292 kB
09-July-13 2013 Determination - Urban, Freight and the Pilbara Railway
Adobe PDF142 kB
06-Jul-12 2012 Determination - Urban, Freight and the Pilbara Railway
Adobe PDF80 kB
08-Jul-11 2011 Determination - Urban, Freight and the Pilbara Railway
Adobe PDF124 kB
22-Jun-10 2010 Determination - Urban, Freight and the Pilbara Railway
Adobe PDF48.7 kB
19-Jun-09 2009 Determination - Urban, Freight and the Pilbara Railway
Adobe PDF38.3 kB
22-Jun-09 2008 Determination - The Pilbara Railway
Adobe PDF 410 kB
23-Jun-08 2008 Determination - Urban and Freight Railway
Adobe PDF323 kB
05-Jul-07 2007 Determination - Urban and Freight Railway
Adobe PDF55.2 kB
12-Jul-06 2006 Determination - Urban and Freight Railway
Adobe PDF49.1 kB
01-Jul-05 2005 Determination - Urban and Freight Railway
Adobe PDF21.4 kB
01-Jul-04 2004 Determination - Urban and Freight Railway
Adobe PDF20.9 kB
01-Jul-03 2003 Determination - Urban and Freight Railway
Adobe PDF208 kB
01-Jul-02 2002 Determination - Urban and Freight Railway
Adobe PDF76.7 kB
23-Aug-99 1999 Determination - Urban and Freight Railway - Report by Macquarie Bank
Adobe PDF1.3 MB

Reviews of the WACC methodology

The method for determining the WACC was reviewed in 2003 and is required to be reviewed continually every 5 years. Information on these reviews is available below.

Other reviews

On 1 July 2008, TPI’s Railway was included in WA's rail access regime. From this date as at 30 June each year the ERA is required to make an annual WACC determination to be applied in determining the floor and ceiling costs for the railway. As TPI’s railway was new when included in the access code on 1 July 2008, the ERA undertook a public consultation process to determine its WACC.

TPI represented a whole new set of parameters and approach and having established a framework, this framework was then applied to Roy Hill Infrastructure's railway in 2017.