ÌÇÐÄÔ­´´

On 31 October 2024, NBN Co submitted to the ÌÇÐÄÔ­´´ an annual report that sets out:

• NBN Co’s capital expenditure and operating expenditure for 2023-24, with a comparison against forecast expenditure for 2023-24 in the first regulatory cycle (Financial years 2023-24 to 2025-26)
• whether prices charged for NBN offers or other charges for core regulated services exceeded, at any time during 2023-24, the maximum allowable prices in the Tariff List at the relevant point in time.

The ÌÇÐÄÔ­´´ has decided to publish the report to:

• promote increased transparency and oversight on NBN Co's financial performance and demonstrate the accuracy of its forecasts – the report outlines NBN Co’s actual capital expenditure and operating expenditure incurred in the financial year, with a comparison against forecasts.
• support any future decisions the ÌÇÐÄÔ­´´ is required to make where the financial information contained in the report would be useful to support our decision – the ÌÇÐÄÔ­´´ will be required to assess NBN Co’s replacement module application and the information contained in the report should assist in our assessment.
• gain additional insight into NBN Co’s priority areas based on incurred expenditure and then compare this over time in subsequent reports to identify potential trends and accuracy of NBN Co’s forecasts.
• add to the database of information we receive and collect from NBN Co to provide a more complete view on NBN Co’s overall performance and ensure accuracy of data between different sources of information.

After consulting with NBN Co, the ÌÇÐÄÔ­´´ decided to publish the report with only limited redactions to the reported expenditure information to:

promote increased transparency and oversight on NBN Co's financial performance and monitor the accuracy of its forecasts
• enable stakeholders to contribute more effectively to the assessment of NBN Co’s building block expenditure, pricing and service standard proposals
• better facilitate ÌÇÐÄÔ­´´ decision making under the expenditure assessment processes that the SAU establishes to deliver improved expenditure outcomes
• contribute to the more effective use of the ÌÇÐÄÔ­´´â€™s functions and powers under the SAU to promote competition and efficient use of, and investment in, NBN infrastructure.

Accordingly, the ÌÇÐÄÔ­´´ is not seeking comments on the report, but rather its publication will help give assurance over NBN Co's progress towards implementing its regulatory proposal for the current regulatory cycle, and to assist stakeholders in engaging with the development and consideration of NBN Co’s Replacement Module Application for the next regulatory cycle.