SUFA DAAUs

Status
Past review
Final report
14/06/2016

The Standard User Funding Agreement, or SUFA, was intended to allow mining companies and other third-party investors to invest in expansion of Aurizon Network’s central Queensland coal network, where Aurizon Network is unable or unwilling to do so.

During the regulatory period, a number of different iterations of a SUFA model were proposed and considered.

Clause 7.6(a) of Aurizon Network’s 2010 access undertaking required that, within three months after the approval date (1 October 2010), it would submit to the QCA:

  • a proposed standard user funding agreement
  • a draft amending access undertaking (DAAU), incorporating amendments to its undertaking it considered reasonably necessary to implement the undertaking’s investment framework principles.

2013 Standard User Funding Agreement

On 22 July 2013, Aurizon Network submitted a Standard User Funding Agreement draft amending access andertaking (the 2013 SUFA DAAU) to us for approval. This followed Aurizon Network’s withdrawal of the 2012 SUFA DAAU.  On 25 July 2013, we issued Aurizon Network with a notice of investigation, under section 146 of the QCA Act.

Considerable progress had been made between Aurizon Network and the customer working froup with regard to developing the 2013 SUFA DAAU.  However, an agreed SUFA had not been developed.

In May 2014 we published a position paper, presenting a package of measures we consider necessary to facilitate the development of a workable, bankable and credible SUFA. We were assisted in our review by Grant Samuel (financial advisor), and Clayton Utz (legal advisor).  We received six stakeholder submissions on our position paper in July 2014.

On September 2014, in the lead-up to our draft decision, we released exposure drafts for a number of SUFA agreements to inform interested parties of our thinking and to elicit the views of interested parties.

We released our draft decision on Aurizon Network’s 2013 SUFA DAAU, including the full suite of SUFA documents, on 31 October 2014 and requested parties to provide submissions on the matters raised by 16 January 2015.  The date for stakeholder submissions was subsequently extended to 30 January 2015.  We received five submissions.

We also released two working papers, providing a stylised representation of how SUFA rents are determined and flow amongst parties under different hypothetical scenarios on an annual and monthly basis. We sought stakeholder comments on the working papers by 15 March 2016. No submissions were received.

On 4 April 2016 we released a position paper regarding SUFA rental streams in the event that the central Queensland coal network (CQCN) declaration expires or is revoked.

On 14 June 2016, we released our final decision on Aurizon Network’s 2013 SUFA DAAU. Our final decision was to refuse to approve the 2013 SUFA DAAU under section 142(2) of the QCA Act.

Following the release of the final decision, QCA staff contributed a summary to the September 2016 edition of Network (see p. 19).

Report and papers

Date
Title Document
14 June 2016 Final report QCA – 2013 SUFA DAAU Final Decision pdf, 1.62 Mb
14 June 2016 Final report QCA – Letter to Aurizon Network SUFA Final Decision pdf, 170.34 Kb
Date
Title Document
14 June 2016 Final report QCA – Construction Agreement – Formal Instrument of Agreement – Final Decision pdf, 105.38 Kb
14 June 2016 Final report QCA – Comparison Integrated Network Deed – Draft Decision vs Final Decision pdf, 298.11 Kb
14 June 2016 Final report QCA – Access Agreement Specific Terms Deed – Final Decision pdf, 475.71 Kb
14 June 2016 Final report QCA – Comparison Extension Infrastructure Head-Lease – 2013 SUFA DAAU vs Final Decision pdf, 340.55 Kb
14 June 2016 Final report QCA – Comparison Extension Infrastructure Head-Lease – Draft Decision vs Final Decision pdf, 265.74 Kb
14 June 2016 Final report QCA – Extension Infrastructure Head-Lease – Final Decision pdf, 686.65 Kb
14 June 2016 Final report QCA – Comparison Extension Infrastructure Sub-Lease – 2013 SUFA DAAU vs Final Decision pdf, 490.63 Kb
14 June 2016 Final report QCA – Comparison Extension Infrastructure Sub-Lease – Draft Decision vs Final Decision pdf, 289.79 Kb
14 June 2016 Final report QCA – Extension Infrastructure Sub-Lease – Final Decision pdf, 701.88 Kb
14 June 2016 Final report QCA – Comparison Extension Project Agreement – Draft Decision vs Final Decision pdf, 806.13 Kb
14 June 2016 Final report QCA – Extension Project Agreement – Final Decision pdf, 611.70 Kb
14 June 2016 Final report QCA – Comparison Financing Side Deed – Draft Decision vs Final Decision pdf, 166.78 Kb
14 June 2016 Final report QCA – Financing Side Deed – Final Decision pdf, 480.03 Kb
14 June 2016 Final report QCA – Comparison Integrated Network Deed – 2013 SUFA DAAU vs Final Decision pdf, 334.96 Kb
14 June 2016 Final report QCA – Integrated Network Deed – Final Decision pdf, 649.86 Kb
14 June 2016 Final report QCA – Comparison Construction Agreement – Formal Instrument of Agreement – Draft Decision vs Final Decision pdf, 67.58 Kb
14 June 2016 Final report QCA – Comparison Rail Corridor Agreement – 2013 SUFA DAAU vs Final Decision pdf, 321.04 Kb
14 June 2016 Final report QCA – Comparison Rail Corridor Agreement – Draft Decision vs Final Decision pdf, 127.50 Kb
14 June 2016 Final report QCA – Rail Corridor Agreement – Final Decision pdf, 496.15 Kb
14 June 2016 Final report QCA – Comparison Specific Security Agreement – Draft Decision vs Final Decision pdf, 116.44 Kb
14 June 2016 Final report QCA – Specific Security Agreement – Final Decision pdf, 364.25 Kb
14 June 2016 Final report QCA – Comparison Subscription and Unit Holders Deed – 2013 SUFA DAAU vs Final Decision pdf, 830.66 Kb
14 June 2016 Final report QCA – Comparison Subscription and Unit Holders Deed – Draft Decision vs Final Decision pdf, 498.94 Kb
14 June 2016 Final report QCA – Subscription and Unit Holders Deed – Final Decision pdf, 1.11 Mb
14 June 2016 Final report QCA – Comparison Trust Deed – 2013 SUFA DAAU vs Final Decision pdf, 265.09 Kb
14 June 2016 Final report QCA – Comparison Trust Deed – Draft Decision vs Final Decision pdf, 213.84 Kb
14 June 2016 Final report QCA – Trust Deed – Final Decision pdf, 521.54 Kb
14 June 2016 Final report QCA – Comparison Construction Agreement – General Conditions – Draft Decision vs Final Decision pdf, 323.84 Kb
14 June 2016 Final report QCA – Construction Agreement – General Conditions – Final Decision pdf, 315.32 Kb
14 June 2016 Final report QCA – Comparison Access Agreement Specific Terms Deed – Draft Decision vs Final Decision pdf, 156.12 Kb
Date
Title Document
19 May 2016 Submission QRC – Submission on Position Paper CQCN Undeclared pdf, 55.86 Kb
05 May 2016 Submission Aurizon Network – Submission on Position Paper CQCN Undeclared pdf, 127.73 Kb
04 April 2016 Other papers Position Paper CQCN undeclared pdf, 459.57 Kb
Date
Title Document
10 August 2015 Other documents Attachment- SUFA Monthly Rent-related Cash Flow Model xlsx, 142.30 Kb
10 August 2015 Other documents SUFA Rent Model – Monthly pdf, 562.36 Kb
10 August 2015 Other documents Attachment – SUFA Annual Rent Model xlsx, 114.58 Kb
10 August 2015 Other documents SUFA Rent Model – Annual pdf, 817.38 Kb
Date
Title Document
31 October 2014 Draft report Draft Decision on 2013 SUFA DAAU pdf, 1.63 Mb
Date
Title Document
09 February 2015 Submission Anglo American – Submission pdf, 61.97 Kb
06 February 2015 Submission AN – Clean – UHD – AN response to QCA DD pdf, 557.59 Kb
06 February 2015 Submission AN – Aurizon Network SUFA DD submission pdf, 1.21 Mb
06 February 2015 Submission AN – Clean – AASTD – AN response to QCA DD pdf, 113.41 Kb
06 February 2015 Submission AN – Clean – CA – FIA – AN response to QCA DD pdf, 144.60 Kb
06 February 2015 Submission AN – Clean – CA – GC – AN response to QCA DD pdf, 386.74 Kb
06 February 2015 Submission AN – Clean – EIHL – AN response to QCA DD pdf, 296.23 Kb
06 February 2015 Submission AN – Clean – EISL – AN response to QCA DD pdf, 305.19 Kb
06 February 2015 Submission AN – Clean – EPA – AN response to QCA DD pdf, 204.59 Kb
06 February 2015 Submission AN – Clean – FSD – AN response to QCA DD pdf, 122.86 Kb
06 February 2015 Submission AN – Clean – IND – AN response to QCA DD pdf, 202.34 Kb
06 February 2015 Submission AN – Clean – RCA – AN response to QCA DD pdf, 88.11 Kb
06 February 2015 Submission AN – Clean – SSA – AN response to QCA DD pdf, 88.86 Kb
06 February 2015 Submission AN – Clean – TD – AN response to QCA DD pdf, 219.36 Kb
06 February 2015 Submission AN – Mark up – AASTD – AN response to QCA DD pdf, 161.97 Kb
06 February 2015 Submission Asciano SUFA Submission pdf, 77.13 Kb
06 February 2015 Submission AN – Mark up – CA – FIA – AN response to QCA DD pdf, 199.59 Kb
06 February 2015 Submission AN – Mark up – CA – GC – AN response to QCA DD pdf, 442.42 Kb
06 February 2015 Submission AN – Mark up – EIHL – AN response to QCA DD pdf, 307.96 Kb
06 February 2015 Submission AN – Mark up – EISL – AN response to QCA DD pdf, 333.89 Kb
06 February 2015 Submission AN – Mark up – EPA – AN response to QCA DD pdf, 263.35 Kb
06 February 2015 Submission AN – Mark up – FSD – AN response to QCA DD pdf, 195.49 Kb
06 February 2015 Submission AN – Mark up – IND – AN response to QCA DD pdf, 246.40 Kb
06 February 2015 Submission AN – Mark up – RCA – AN response to QCA DD pdf, 135.97 Kb
06 February 2015 Submission AN – Mark up – SSA – AN response to QCA DD pdf, 148.81 Kb
06 February 2015 Submission AN – Mark up – TD – AN response to QCA DD pdf, 246.23 Kb
06 February 2015 Submission AN – Mark up – UHD – AN response to QCA DD pdf, 536.44 Kb
06 February 2015 Submission Vale SUFA Submission pdf, 802.82 Kb
06 February 2015 Submission QRC SUFA Submission pdf, 683.46 Kb
06 February 2015 Submission AN – Letter from Aurizon Network regarding SUFA DD submission pdf, 267.39 Kb
Date
Title Document
15 January 2015 Notice SUFA DD DAAU Submission Extension pdf, 139.11 Kb
Date
Title Document
31 October 2014 Draft report Access Agreement Specific Terms Deed – Draft Decision pdf, 470.88 Kb
31 October 2014 Draft report Construction-Agreement – General-Conditions – Draft Decision pdf, 912.50 Kb
31 October 2014 Draft report Construction Agreement – Formal Instrument of Agreement – Draft Decision pdf, 280.62 Kb
31 October 2014 Draft report Extension Infrastructure Head-Lease – Draft Decision pdf, 735.05 Kb
31 October 2014 Draft report Extension Infrastructure Sub-Lease – Draft Decision pdf, 787.87 Kb
31 October 2014 Draft report Extension Project Agreement – Draft Decision pdf, 615.59 Kb
31 October 2014 Draft report Financing Side Deed – Draft Decision pdf, 478.93 Kb
31 October 2014 Draft report Integrated Network Deed – Draft Decision pdf, 587.50 Kb
31 October 2014 Draft report Rail Corridor Agreement – Draft Decision pdf, 479.48 Kb
31 October 2014 Draft report Specific Security Agreement – Draft Decision pdf, 351.96 Kb
31 October 2014 Draft report Subscription and Unit Holders Deed – Draft Decision pdf, 1.31 Mb
31 October 2014 Draft report Trust Deed – Draft Decision pdf, 307.13 Kb
Date
Title Document
09 September 2014 Submission Construction Agreement Formal Instrument pdf, 287.79 Kb
08 September 2014 Submission Access Agreement Specific Terms Deed pdf, 456.38 Kb
08 September 2014 Submission Construction Agreement pdf, 1001.46 Kb
08 September 2014 Submission Extension Infrastructure Sub-Lease pdf, 796.50 Kb
08 September 2014 Submission Extension Project Agreement pdf, 578.87 Kb
08 September 2014 Submission Rail Corridor Agreement pdf, 468.90 Kb
08 September 2014 Submission Specific Security Agreement pdf, 433.19 Kb
08 September 2014 Submission Subscription and Unit Holders Deed pdf, 1.21 Mb
08 September 2014 Submission Trust Deed pdf, 584.43 Kb
Date
Title Document
09 July 2014 Submission QRC – submission – on tax issues pdf, 259.93 Kb
09 July 2014 Submission QRC pdf, 331.74 Kb
09 July 2014 Submission Glencore pdf, 1.25 Mb
09 July 2014 Submission BMA and BMC pdf, 1.03 Mb
09 July 2014 Submission Aurizon Network pdf, 2.94 Mb
09 July 2014 Submission Asciano pdf, 142.83 Kb
09 July 2014 Submission Anglo American pdf, 71.38 Kb
Date
Title Document
16 June 2014 Other papers Marked-up version pdf, 342.24 Kb
16 June 2014 Other papers Updated Term Sheets – 2013 SUFA DAAU pdf, 514.47 Kb
22 May 2014 Other papers Position Paper – 2013 SUFA DAAU pdf, 1.38 Mb
22 May 2014 Other papers Term Sheets – 2013 SUFA DAAU pdf, 468.72 Kb
22 May 2014 Consultant report Grant Samuel report – 2013 SUFA DAAU pdf, 110.47 Kb
Date
Title Document
18 June 2014 Notice Revised notice of time periods pdf, 39.27 Kb
14 February 2014 Submission Letter from Aurizon Network 1 pdf, 565.73 Kb
14 February 2014 Other documents Letter to Aurizon Network pdf, 485.50 Kb
15 July 2013 Submission Letter from Aurizon Network pdf, 213.08 Kb
15 July 2013 Notice Notice of Investigation pdf, 306.83 Kb
Date
Title Document
16 December 2013 Submission Anglo American – Supplementary Submission on the Standard User Funding Agreement DAAU pdf, 126.07 Kb
16 December 2013 Submission Aurizon Network – Aurizon Network SUFA Response Letter pdf, 774.00 Kb
16 December 2013 Submission QRC – Letter to the QCA in Relation to SUFA pdf, 27.63 Kb
11 December 2013 Submission Asciano – Asciano Submission to the QCA wrt Submission to Aurizon Network 2013 SUFA DAAU pdf, 133.72 Kb
Date
Title Document
16 August 2013 Submission Anglo American – Submission pdf, 101.43 Kb
16 August 2013 Submission QRC – Extension Infrastructure Head-Lease marked-up copy pdf, 709.75 Kb
16 August 2013 Submission QRC – Trust Deed marked-up copy pdf, 564.16 Kb
16 August 2013 Submission QRC – Subscription and Unit Holders Deed marked-up copy pdf, 1.31 Mb
16 August 2013 Submission QRC – Rail Corridor Agreement marked-up copy pdf, 649.33 Kb
16 August 2013 Submission QRC – Project Management Agreement marked-up copy pdf, 1.61 Mb
16 August 2013 Submission QRC – Integrated Network Deed marked-up copy pdf, 534.95 Kb
16 August 2013 Submission QRC – Extension Infrastructure Sub-Lease marked-up copy pdf, 926.44 Kb
16 August 2013 Submission QRC – Study Funding Agreement pdf, 336.60 Kb
16 August 2013 Submission Asciano – Submission pdf, 154.43 Kb
16 August 2013 Submission QRC- Key outstanding tax issues and drafting changes pdf, 206.55 Kb
16 August 2013 Submission QRC – Covering submission and Expansion Process principles pdf, 364.17 Kb
16 August 2013 Submission Vale Australia – Submission pdf, 588.51 Kb
16 August 2013 Submission BMA and BMC – Submission pdf, 403.84 Kb
16 August 2013 Submission QRC – Umbrella Agreement – marked-up copy pdf, 638.04 Kb
11 August 2013 Submission Glencore – Submission pdf, 233.38 Kb
15 February 2013 Submission QRC – Covering letter pdf, 242.58 Kb
Date
Title Document
15 July 2013 Submission Extension Infrastructure Head-Lease pdf, 324.01 Kb
15 July 2013 Submission Extension Infrastructure Sub-Lease – clean copy pdf, 440.03 Kb
15 July 2013 Submission Extension Infrastructure Sub-Lease – marked-up copy pdf, 376.69 Kb
15 July 2013 Submission Integrated Network Deed pdf, 245.01 Kb
15 July 2013 Submission Project Management Agreement – clean copy pdf, 662.74 Kb
15 July 2013 Submission Project Management Agreement – marked-up copy pdf, 690.55 Kb
15 July 2013 Submission Rail Corridor Agreement pdf, 265.84 Kb
15 July 2013 Submission Trust Deed – clean copy pdf, 280.46 Kb
15 July 2013 Submission Trust Deed – marked-up copy pdf, 300.04 Kb
15 July 2013 Submission Umbrella Agreement pdf, 345.42 Kb
11 July 2013 Submission Subscription and Unit Holders Deed – clean copy pdf, 679.32 Kb
11 July 2013 Submission Subscription and Unit Holders Deed – marked-up copy pdf, 695.98 Kb

SUFA and investment framework amendments

On 24 December 2010, Aurizon Network submitted a standard user funding agreement draft amending access undertaking (the 2011 SUFA DAAU) to us for approval.

However, the 2011 SUFA DAAU did not comply with the requirements of clause 7.6(a) of the 2010 access undertaking.  We therefore decided to exercise the powers under clause 7.6(b) of the undertaking, that allowed us to develop our own proposed SUFA and investment framework amendments.

Report and papers

Date
Title Document
15 April 2011 Other documents Letter to QR Network pdf, 272.70 Kb
15 March 2011 Other documents Letter from the QCA to QR Network pdf, 88.66 Kb

2012 SUFA DAAU

On 20 December 2012, Aurizon Network submitted a standard user funding agreement draft amending access undertaking (the 2012 SUFA DAAU) to us for approval.

On 22 July 2013, Aurizon Network withdrew its 2012 SUFA DAAU.

Our consideration of the 2012 SUFA DAAU thus concluded on that date.

Report and papers

Date
Title Document
15 July 2013 Notice Further revised notice of time periods pdf, 183.26 Kb
15 February 2013 Issues paper QCA Issues Paper pdf, 73.08 Kb
15 December 2012 Submission Volume 3 – Regulatory Notes pdf, 943.86 Kb
14 December 2012 Submission Submission Letter to the QCA pdf, 177.41 Kb
14 December 2012 Submission Volume 1 – Explanatory Notes pdf, 264.40 Kb
14 December 2012 Submission Volumes 2A and 2B – SUFA Template Legal Documents pdf, 3.04 Mb
14 December 2012 Submission Volume 4 – Aurizon Network 2012 Access Undertaking (UT3): Draft Amending Access Undertaking pdf, 2.09 Mb
14 December 2012 Notice Notice of time periods pdf, 135.50 Kb
14 December 2012 Notice Notice of investigation pdf, 151.09 Kb
Date
Title Document
15 May 2013 Submission Vale pdf, 617.58 Kb
15 May 2013 Submission QRC pdf, 239.25 Kb
15 May 2013 Submission Asciano pdf, 608.77 Kb
15 May 2013 Submission BMA pdf, 650.11 Kb
15 May 2013 Submission Aurizon Holdings pdf, 167.55 Kb

2011 SUFA DAAU

On 24 December 2010, Aurizon Network submitted a standard user funding agreement draft amending access undertaking (the 2011 SUFA DAAU) to us for approval.

On 30 April 2012, Aurizon Network withdrew its 2011 SUFA DAAU.  Our consideration of the 2011 SUFA DAAU thus concluded on that date.

Report and papers

Date
Title Document
08 May 2012 Notice Notice of Time Periods – May 12 pdf, 97.05 Kb
01 May 2012 Submission 30 April 2012 Letter from QR Network Withdrawing its 2011 Draft Amending Access Undertaking and Standard User Funding Agreements pdf, 369.79 Kb
25 January 2011 Submission Letter accompanying the explanatory note pdf, 90.81 Kb
05 January 2011 Notice Notice of Time Periods pdf, 44.39 Kb
05 January 2011 Notice Notice of Investigation pdf, 123.30 Kb
01 January 2011 Submission Explanatory note pdf, 997.35 Kb
24 December 2010 Submission Submission Letter to the QCA pdf, 357.04 Kb
24 December 2010 Submission DAAU to the 2010 Access Undertaking Implementing the Investment Framework (marked up version) pdf, 1.64 Mb
24 December 2010 Submission DAAU to the 2010 Access Undertaking Implementing the Investment Framework (clean version) pdf, 1.32 Mb
22 December 2010 Submission User Funding Construction Agreement pdf, 236.24 Kb
22 December 2010 Submission User Funding Participation Agreement pdf, 109.20 Kb
Date
Title Document
21 March 2011 Submission Anglo American pdf, 64.62 Kb
18 March 2011 Submission ARTC pdf, 7.79 Mb
18 March 2011 Submission Xstrata pdf, 1.21 Mb
18 March 2011 Submission Rio Tinto Coal Australia pdf, 184.28 Kb
18 March 2011 Submission QR National Coal pdf, 309.34 Kb
18 March 2011 Submission QRC Commentary on Participation Agreement pdf, 98.42 Kb
18 March 2011 Submission QRC Commentary on Construction Agreement pdf, 166.12 Kb
18 March 2011 Submission WICET Stage 1 Coal Customers pdf, 1.08 Mb
18 March 2011 Submission QRC Submission pdf, 384.05 Kb
18 March 2011 Submission Ensham Resources pdf, 1.31 Mb
18 March 2011 Submission BMA pdf, 3.20 Mb
17 March 2011 Submission QRC Expert Tax Advice from Greenwoods and Freehills pdf, 66.73 Kb
16 March 2011 Submission QRC Key Terms of Study Funding Agreement pdf, 100.21 Kb
15 March 2011 Submission QRC Analysis of QR User Funding Framework pdf, 797.92 Kb
14 March 2011 Submission QRC Schedule J Investment Framework Principles Comparison Table pdf, 313.54 Kb
01 February 2011 Submission Asciano pdf, 160.07 Kb
18 March 2010 Submission Vale pdf, 626.11 Kb