Past review
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
|
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 |
|
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 |
|
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 |
|
Title | Document | |
---|---|---|---|
31 October 2014 | Draft report | Draft Decision on 2013 SUFA DAAU | pdf, 1.63 Mb |
|
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 |
|
Title | Document | |
---|---|---|---|
15 January 2015 | Notice | SUFA DD DAAU Submission Extension | pdf, 139.11 Kb |
|
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 |
|
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 |
|
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 |
|
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 |
|
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 |
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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 |
|
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
|
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
|
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 |
|
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
|
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 |