DBCT's 2017 access undertaking

Status
In effect
Final report
03/10/2017

We approved DBCT Management Pty Ltd’s (DBCTM’s) amended 2015 draft access undertaking (DAU) on 16 February 2017. The amended DAU, submitted on 9 February 2017, is now the 2017 access undertaking for DBCT.

The approved DAU markup and our letter to DBCT Management about our decision can be downloaded below from the ‘Final approval’ folder. In addition, clean versions of the documents are available for information.

In accordance with section 134(1) of the QCA Act, we considered DBCT Management Pty Ltd’s (DBCTM’s) 2015 draft access undertaking (DAU) and did not to approve it.

In accordance with section 134(2) of the QCA Act, on 21 November 2016, we gave DBCTM a notice (a ‘secondary undertaking notice’) stating the reasons for the refusal (being those reasons contained in the attachment, including the appendices) and asking DBCTM to amend its 2015 DAU in the way set out in Appendices A and B of that attachment.

We asked DBCTM to provide a copy of the amended DAU within 60 days of receiving the secondary undertaking notice. This period was later extended to 17 February 2017.

The secondary undertaking notice and related documents can be found in the ‘Final decision’ folder on this page. Additional correspondence can be found in the ‘Post final decision correspondence’ folder.

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.

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 is available below.

Further submissions

We received submissions from five stakeholders on our draft decision on DBCT Management’s 2015 DAU.

We 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. We therfore 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.

WACC

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.

On 23 June 2015, we issued an initial undertaking notice under section 133 of the Queensland Competition Authority Act 1997 (the QCA Act) requiring Dalrymple Bay Coal Terminal (DBCT) Management to submit a draft access undertaking (DAU) to us within 90 days after receiving the notice—that is,  by 21 September 2015.

This notice started a process under the QCA Act for putting in place a new approved access undertaking for DBCT.

In response to a request by DBCT Management, and in accordance with section 133 of the QCA Act, we extended the period referred to in the initial undertaking notice. DBCT Management was then required to submit a DAU by 5 pm on 19 October 2015. The notice of extension, and our response to DBCT Management are included below.

On 12 October 2015, we received a draft access undertaking (2015 DAU) from DBCT Management within the time specified in our extension to the initial undertaking notice.

Under section 134 of the QCA Act, we must consider a DAU submitted in response to an initial undertaking notice and decide whether to approve that DAU.

We received submissions on DBCT Management’s 2015 DAU from the DBCT User Group and Vale Australia. These are available below.

We also received supplementary submissions after the deadline from the DBCT User Group and DBCT Management.  We considered these submissions in our draft decision, but noted that further analysis may be required on some issues.

The timely consideration of DBCT Management’s 2015 DAU is a priority for us.  Subject to section 168B of the QCA Act, we may make a decision without taking into account late information (submissions or other information provided after the deadline stated by the QCA).

Report and papers

Date
Title Document
24 March 2017 Final report QCA acceptance of DBCTM-s proposed final true-up amount pdf, 238.56 Kb
24 March 2017 Submission DBCTM 2017 DAU final true-up amount proposal pdf, 235.46 Kb
16 February 2017 Final report QCA-letter re final approval of DBCT 2015 DAU pdf, 231.55 Kb
09 February 2017 Submission DBCTM-letter accompanying resubmitted DBCT 2015 DAU pdf, 236.43 Kb
09 February 2017 Submission DBCTM-resubmitted 2015 DAU markup pdf, 2.12 Mb
09 February 2017 Submission DBCTM-resubmitted 2015 DAU User Agreement markup pdf, 1.24 Mb
09 February 2017 Submission DBCTM-2016 Terminal Master Plan – Sch F of 2015 DAU pdf, 3.67 Mb
16 February 2017 Submission QCA-DBCT 2017 access undertaking – clean pdf, 1.87 Mb
16 February 2017 Submission QCA-DBCT 2017 AU User Agreement – clean pdf, 1.29 Mb
Date
Title Document
03 February 2017 Other documents QCA response to DBCTM – 2 Feb 2017 pdf, 1.84 Mb
03 February 2017 Submission DBCT 2015 DAU Final Decision Concerns – 22 Dec 2016 pdf, 258.54 Kb
03 February 2017 Other documents QCA response to DBCTM SUN response extension request – 8 Dec 2016 pdf, 223.75 Kb
03 February 2017 Submission DBCTM Request for SUN response extension – 23 Nov 2016 pdf, 230.35 Kb
Date
Title Document
21 November 2016 Final report Secondary Undertaking Notice-DBCTM 2015 DAU pdf, 273.38 Kb
21 November 2016 Final report Secondary Undertaking Notice – Attachment QCA decision pdf, 2.86 Mb
21 November 2016 Final report Secondary Undertaking Notice – Att QCA Final Decision – Appendix A mark-up to the 2015 DAU pdf, 2.12 Mb
21 November 2016 Final report Secondary Undertaking Notice – Att QCA Final Decision – Appendix B mark-up to the 2015 DAU User Agreement pdf, 1.24 Mb
Date
Title Document
21 November 2016 Consultant report Turner – Townsend-Site rehabilitation addenda pdf, 567.04 Kb
04 August 2016 Consultant report Brasington-Interest rate swap transaction costs pdf, 500.72 Kb
30 June 2016 Consultant report Incenta-Debt risk premium and risk-free rate pdf, 1.05 Mb
Date
Title Document
12 October 2016 Notice Notice of time periods-October 2016 pdf, 576.48 Kb
30 June 2016 Notice Notice of time periods-June 2016 pdf, 438.49 Kb
18 May 2016 Notice Extended consultation notice of time periods pdf, 351.31 Kb
22 April 2016 Notice Revised notice of time periods-April 2016 pdf, 376.45 Kb
21 September 2015 Other documents Cover letter to extension notice pdf, 373.03 Kb
21 September 2015 Notice Notice of Extension pdf, 133.83 Kb
13 October 2015 Notice Notice of time periods pdf, 227.07 Kb
12 October 2015 Notice Notice of investigation pdf, 513.74 Kb
23 June 2015 Submission DBCT Initial Undertaking Notice 23 June 2015 pdf, 16.05 Kb
Date
Title Document
30 September 2016 Submission The DBCT User Group – Submission on other matters raised by DBCTM – Sept 2016 pdf, 199.05 Kb
01 September 2016 Submission DBCT 2015 DAU Other Issues Submission pdf, 988.49 Kb
30 August 2016 Submission DBCTM Submission on QCA Staff Questions pdf, 738.19 Kb
30 August 2016 Submission DBCT User Group-Submission in response to QCA Staff Questions docx, 512.56 Kb
03 August 2016 Other documents QCA staff-Questions for stakeholders pdf, 322.79 Kb
Date
Title Document
21 July 2016 Submission DBCT User Group – Debt risk premium pdf, 69.10 Kb
11 July 2016 Submission DBCT User Group pdf, 1.44 Mb
11 July 2016 Submission Glencore pdf, 594.04 Kb
11 July 2016 Submission Aurizon Network pdf, 100.96 Kb
11 July 2016 Submission Aurizon Operations pdf, 1.26 Mb
11 July 2016 Submission DBCT Management – Cover Letter – redacted pdf, 506.26 Kb
11 July 2016 Submission DBCT Management – Submission -redacted- pdf, 1.21 Mb
11 July 2016 Submission DBCT Management – DAU Clean pdf, 1014.47 Kb
11 July 2016 Submission DBCT Management – DAU Compare QCA Draft Decision pdf, 1.92 Mb
11 July 2016 Submission DBCT Management – DAU Compare to Original Submission pdf, 1.80 Mb
11 July 2016 Submission DBCT Management – Master Plan pdf, 3.67 Mb
11 July 2016 Submission DBCT Management – SAA Clean pdf, 569.96 Kb
11 July 2016 Submission DBCT Management – SAA Compare to Original Submission pdf, 595.81 Kb
11 July 2016 Submission DBCT Management – SAA Compare to QCA Draft Decision pdf, 574.13 Kb
Date
Title Document
19 April 2016 Draft report QCA – Draft Decision DBCTM 2015 DAU pdf, 3.17 Mb
19 April 2016 Other documents QCA – Draft Decision Appendix A – Markup of 2015 DAU pdf, 2.07 Mb
19 April 2016 Other documents QCA – Draft Decision Appendix B – Markup of User Agreement pdf, 1.31 Mb
31 March 2016 Consultant report Incenta – Review of WACC parameters pdf, 1.46 Mb
24 December 2015 Consultant report RMI – Review of economic life of DBCT assets pdf, 1.61 Mb
28 January 2016 Consultant report Turner – Townsend – Review of proposed DBCT site rehabilitation pdf, 481.99 Kb
Date
Title Document
24 March 2016 Submission DBCTM Supplementary Submission 2015 DAU – Issued to QCA pdf, 730.48 Kb
08 February 2016 Submission DBCT User Group Supplementry Submission – 22 January 2016 pdf, 213.25 Kb
03 December 2015 Submission Vale Australia Submission – DBCT 2015 DAU pdf, 11.12 Mb
03 December 2015 Submission 2015 DAU – DBCT User Group Submission pdf, 1.00 Mb
03 December 2015 Submission DBCT User Group Submission Schedule 1 – Allens advice pdf, 84.33 Kb
03 December 2015 Submission DBCT User Group Schedule 3 – DBCT WACC report pdf, 391.19 Kb
03 December 2015 Submission DBCT User Group Schedule 4 – DBCT User Group Initial Differential Pricing Submission pdf, 2.63 Mb
03 December 2015 Submission DBCT User Group Schedule 4 – DBCT User Group Second Differential Pricing Submission pdf, 4.12 Mb
03 December 2015 Submission DBCT User Group Schedule 6 – Draft Access Undertaking docx, 460.61 Kb
03 December 2015 Submission DBCT User Group Schedule 7 – DBCT Standard User Agreement docx, 200.48 Kb
Date
Title Document
09 February 2016 Submission DBCTM – 20-day averaging period pdf, 242.65 Kb
14 March 2016 Other documents QCA – WACC averaging period and end of regulatory period pdf, 338.67 Kb
Date
Title Document
12 October 2015 Submission DBCT Management 2015 DAU Submission Cover Letter pdf, 192.84 Kb
13 October 2015 Submission DBCT Management – 2015 DAU Submission pdf, 1.23 Mb
12 October 2015 Submission Terminal Master Plan – Schedule F to Access Undertaking pdf, 21.33 Mb
12 October 2015 Submission 2015 DBCT Draft Access Undertaking – DAU submission version docx, 385.74 Kb
12 October 2015 Submission 2015 DBCT Standard User Agreement – DAU submission version docx, 191.27 Kb
12 October 2015 Submission Compare – 2015 DAU SAA against 2010 SAA – final pdf, 531.91 Kb
12 October 2015 Submission Compare – 2015 DAU against 2010 DAU pdf, 1.49 Mb
Date
Title Document
12 October 2015 Submission Attachment A – Shipper Mine Life Analysis pdf, 2.42 Mb
12 October 2015 Submission Attachment B – Term of Risk Free Rate pdf, 556.06 Kb
12 October 2015 Submission Attachment C – Required Return on Equity for DBCT pdf, 550.86 Kb
12 October 2015 Submission Attachment D – Estimating Gamma pdf, 504.42 Kb
12 October 2015 Submission Attachment E – Dalrymple Bay Coal Terminal – Corporate Costs pdf, 1.51 Mb
12 October 2015 Submission Attachment F – Rehabilitation Valuation 2015 pdf, 5.37 Mb
12 October 2015 Submission Attachment G – Review of Dalrymple Bay Coal Terminal Remediation Charge pdf, 558.42 Kb