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ARTICLE · 06 JULY 2009

The What And Why Of Road Availability Charges

Clayton Utz
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Although common in social infrastructure projects, the availability charge model is yet to be used here for roads. The model has some important advantages over patronage risk, especially when the credit markets are tight.

AustraliaGovernment, Public Sector
Stuart Cosgriff
Stuart Cosgriff
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Key Points:
Although common in social infrastructure projects, the availability charge model is yet to be used here for roads. The model has some important advantages over patronage risk, especially when the credit markets are tight.

In the recent history (ie. within the last 10 to 15 years) of privately financed road projects in Australia, the Project Company raising the finance for the construction of the road has been granted a concession which, amongst other things, permitted the Project Company to collect and retain tolls from motorists.

Typically, the Project Company has applied those tolls to:

  • pay its operating and maintenance costs;
  • repay its financiers (be they lenders or bond holders); and

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