Transurban's broken it's own law...how will VIC and NSW feel about that?

  1. 301 Posts.
    lightbulb Created with Sketch. 52
    Well, it's pretty telling that the Australian sell-side analysts have failed to pick up on the below... Will this come out in the press soon? I wonder if someone will pick it up. Will the Victorian government punish TCL for breaking ITS OWN LAW?! The $143M that they have provisioned for to pay EastLink is immaterial in the scheme of things given it's a $40B company. But should not Victorians fine TCL for their breach of law? What say, a rebate of $500 per Victorian road user, and should not the state limit TCL's toll increases by say a maximum of 2%pa for the next 10 years? Otherwise doesn't TCL get off Scott-free from breaking it's own law?

    Oh, and I wonder if NSW will then re-think its attitude towards TCL after spending four years on a tolling enquiry? If TCL are flagrant with their attitude towards their own Victorian law, why should NSW be kind to TCL on the tolling review?! This is a much bigger issue for TCL. Perhaps it's toll increases in NSW should also be limited to 2%pa for the next 10 years?

    Why should the public honour heinous contracts that they signed with TCL when TCL disregards its own law?

    WHERE IT REALLY BECAME PUBLIC

    https://hotcopper.com.au/data/attachments/6836/6836973-eb2c89e1692cb6a4e54856c57de12b80.jpg

    https://hotcopper.com.au/data/attachments/6836/6836976-87453cecda0bd86cedda92203f2beda8.jpg

    Well, $143M actually, according to TCL's accounts lodged last week...see below.


    EXTRACT FROM TCL'S RESULTS LAST THURSDAY
    https://hotcopper.com.au/data/attachments/6837/6837157-cd292cf8992f133e558988871eb80993.jpg
    https://hotcopper.com.au/data/attachments/6837/6837159-9f7f97d70202f32d69fd06c3b21c59e4.jpg


    https://hotcopper.com.au/data/attachments/6836/6836961-ab878251507a569262e3a7c8c112ac43.jpg
    https://hotcopper.com.au/data/attachments/6836/6836967-96ecbcdfdddd8f7efcf2952d2ad83658.jpg


    Extract from the CityLink Act, 1995 - which is the lynch pin of EastLink's case against TCL.

    https://hotcopper.com.au/data/attachments/6836/6836927-3fb33c8ae7ffd75a68ebefa0efc1a72e.jpg\
    EXTRACT FROM THE JUDGEMENT


    https://hotcopper.com.au/data/attachments/6836/6836929-fb931ce53f1e166a9c9c711b42a1e24e.jpg

    AND NSW ISSUES...NSW HAS SPENT OVER FOUR YEARS LOOKING AT TCL'S TOLLS...
    Including the Fells/Cousins Enquiry...
    https://www.treasury.nsw.gov.au/toll-review
    https://hotcopper.com.au/data/attachments/6837/6837042-c8d5a6618095b09712af8888ae0c2450.jpg


    https://hotcopper.com.au/data/attachments/6836/6836999-969fd0124115cfbf30ffffacad23f4c3.jpg
    https://hotcopper.com.au/data/attachments/6837/6837047-b522edd94a6010a5452cc53198c8f6af.jpg


    THE NSW TREASURER HAS THE POWER TO REGULATE TOLLING
    FEES
    ROADS AMENDMENT (TOLL SERVICES) REGULATION 2018 (UNDER THE ROADS ACT 1993)
    https://hotcopper.com.au/data/attachments/6837/6837025-58636069b5670fd0cc128ca59156882e.jpg


    THE NSW TOLL REFORM IS WHAT THE ANALYSTS ARE WORRIED ABOUT

    Cit - 20 Feb 2025
    https://hotcopper.com.au/data/attachments/6837/6837066-45a9dfa91e1001e2368ab68ab814b017.jpg

    Jefferies - 20 Feb 2025
    https://hotcopper.com.au/data/attachments/6837/6837081-0a289d43d081b419f0787ced859a365e.jpg
    Barrenjoey 20 Feb 2025
    https://hotcopper.com.au/data/attachments/6837/6837133-a103e363643ee399ae94beba7ca4725a.jpg

    Macquarie 21 Feb 2025
    https://hotcopper.com.au/data/attachments/6837/6837143-eb87483ec18b2579feffe69ec4d94beb.jpg



    DISCLOSURE: I AM SHORT TCL - I went short after the 20 Dec disclosure and after doing a tonne of research on the matter.

 
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