We approved DBCT Management’s amended 2015 draft access undertaking (DAU) on 16 February 2017.
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.
The approved DAU became the 2017 access undertaking. It has since been amended under the QCA Act.
The most recent 2017 access undertaking, and the approved amendments, are available here.
In accordance with section 134(1) of the QCA Act, we considered DBCT Management Pty Ltd’s (DBCTM’s) 2015 draft access undertaking (DAU). Our decision was 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.
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.
All information relating to the 2015 DAU, including our draft decision, consultant reports and stakeholder submissions received is available below.
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 therefore 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,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.
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 until 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.
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.
Report and papers
|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|
|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|
|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|
|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|
|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|
|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|
|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|
|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|
|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|
|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|
|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|