On 22 April 2016, we released a draft decision on DBCT Management's 2015 DAU.
We invited stakeholders to comment on our draft decision by 8 July 2016. We received submissions from DBCT Management, DBCT User Group, Glencore, Aurizon Operations and Aurizon Network. Submissions will be considered by the QCA prior to making a final decision on the 2015 DAU.
Our draft decision was to refuse to approve the 2015 DAU. We identified the manner in which we considered the 2015 DAU should be amended to enable us to approve it in accordance with our obligations under the QCA Act. In forming our draft decision, we considered submissions from DBCT Management, the DBCT User Group and Vale, as well as other submissions received on related processes.
All information relating to the 2015 DAU, including our draft decision, consultant reports and stakeholder submissions received to date, is available below.
The QCA received submissions from five stakeholders on its draft decision on DBCT Management’s 2015 DAU.
QCA staff considered there were a small number of new proposals and/or information presented by stakeholders in their initial submissions on the draft decision that warranted further consultation with stakeholders. QCA staff developed a list of issues/questions to assist stakeholders in considering matters associated with the identified new proposals and/or information.
We received two submissions by the due date, 26 August 2016 - these were from DBCT Management and the DBCT User Group. In addition, DBCT Management also provided an additional submission commenting on some other issues. The submissions are available below.
On 30 June 2016, we released a report from Incenta Economic Consulting on DBCT Management's debt risk premium and the risk-free rate for the 2015 DAU. We invited submissions on this report and received one submission by the deadline, which is available below, along with Incenta's report.
In light of the submissions we received on our draft decision, we commissionned Jeremy Brasington to provide advice on interest rate swap transaction costs. The report is available below.