We submitted our Final Plan for the Dampier to Bunbury Natural Gas Pipeline (1 January 2026 - 31 December 2030) to the ERA on 2 January 2025.

This Final Plan set out our business plan for the five-year period commencing 1 January 2026 to enable us to continue to deliver strong safety and reliability performance delivered over AA5.

On 4 March 2025, the ERA published an Issues Paper for public consultation. The ERA then published its Draft Decision on our Final Plan on 7 July 2025.

We refined some of our proposals in response to the ERA's Draft Decision and published our Revised Final Plan on 19 August 2025.

Our Revised Final Plan includes operating expenditure (opex) of $622 million, $87 million higher than the ERA’s
Draft Decision, but around $30 million lower than our original Final Plan. The key drivers of the uplift from the Draft Decision are:

Reinstatement of our 2024 updates to our internal labour charge out rates, which was rejected in the Draft Decision;

Application of actual 2024 and 2025 opex outcomes to derive our AA6 forecast, instead of the of the Draft Decision’s use of 2019 to 2023 as benchmark period for labour cost efficiency; and

Changes to account for increased IT costs.

Forecast AA6 capital expenditure (capex) in our revised Final Plan is $262 million for AA6, $42 million more than the ERA’s Draft Decision but around $26 million less than our original Final Plan. The uplift largely relates to:

Our proposed Jandakot redevelopment, which redevelopment we provide additional detail as requested in the ERA’s Draft Decision; and

For actual capex incurred in the current AA5 period, we have largely reinstated the $20 million excluded in the Draft Decision.

Overall, our revised Final Plan includes building block revenue of $2,295 million required to operate, maintain and fund the pipeline through AA6—an increase of $78 million relative to the Draft Decision but $7 million lower than the original Final Plan. This delivers a price of $2.35/GJ (Full Haul Equivalent), $0.16/GJ higher than the Draft Decision of $2.19/GJ, but $0.10/GJ lower than the original Final Plan tariff of $2.45/GJ.

Public submissions on the ERA's Draft Decision and our Revised Final Plan are open until 17 September 2025. To make a submission, please see the ERA's website.

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