The ACCC conducted an preliminary inquiry into the appropriate revenue cap to apply to the non-contestable elements of the Snowy Mountains Hydro-Electric Authority (SMHEA) transmission network services. As part of this inquiry, the ACCC engaged PB Power to conduct a review of the SMHEA transmission assets valuation.

As part of its inquiry, the ACCC received a submission from SMHEA which outlined its preliminary views on various revenue cap issues.