Aurizon Holdings' (ASX:AZJ) 2025 UT5 Draft Amending Access Undertaking has received broad preliminary backing from the Queensland Competition Authority (QCA), which said key elements are acceptable while further assessment is required before a final approval, according to a Wednesday Australian bourse filing.

UT5 Plus was submitted in December 2025 with strong customer support, outlining access and pricing arrangements for the Central Queensland coal network covering the period from July 1, 2027 to June 30, 2037, per the filing.

The QCA's draft decision supports key elements of the proposal, including the weighted average cost of capital methodology, accelerated depreciation, and throughput payments, but withholds approval pending further consultation due to concerns over the operating expenditure allowance, the filing said.

The regulator has called for stakeholder submissions by Aug. 20 and outlined steps for the company to resolve outstanding issues before its final approval, the filing added.