News story

SSRO referral investigation closed after parties reach agreement

The SSRO has agreed to discontinue its investigation of a referral for a determination

The SSRO has agreed to discontinue its investigation of a referral for a determination on the amount of a final price adjustment after the parties to the referred contract reached a negotiated settlement. The parties had previously been unable to agree what, if any, final price adjustment was due under the contract. After beginning an investigation in November 2023 and having discussions with the parties the SSRO decided there was merit in allowing them more time to continue their engagement on the matters of dispute. The parties confirmed in March 2024 that they had reached an agreement and a determination by the SSRO was no longer required.

The Referral Committee appointed to consider the referral welcomed the news of the parties’ agreement. Joanne Watts, the SSRO’s Chief Regulatory Officer, said

The referral has presented a valuable opportunity for the SSRO to examine the legislative provisions for final price adjustment which will result in us using our new powers to prepare guidance on this topic later this year.

Further information on how to raise questions with the SSRO about applying the regulatory framework, our new non-referral advice service, and the matters that can be referred to the SSRO and how these are considered can be found on our website.

Published 20 May 2024