Highlights:
- reduction in NGP-TRS (W) and NGP-TRS (M) base fees
- tiered fee structure that applies a discount for participants who trade large volumes of gas on a continuous basis
- alternative fee structure for large one off trades
- changes to fees will apply from 1 November 2016
- changes to when trading fees are payable from 1 December 2016
- minor related changes to Market Rules will apply from 1 December 2016
Changes to fees
Key points:
- annual access fees and small participant trading fee remain unchanged
- hurdle rates must be achieved to receive trading fee discounts, and apply to each product separately (see table below)
- calculated trading volumes will run over a rolling 12 month window and will include the volume of the trade for which the trading fee is being calculated
- trading fee discounts for large one-off trades will also apply
- from 1 December trading fees will be payable in the month of trade execution, rather than the month of delivery.
12 month volume trading fees:
Participant’s total Trade volume in previous 12 Months for relevant Product (GJ) |
NGP-TRS (D) (per GJ, per Trade Leg) |
NGP-TRS (W) (per GJ, per Trade Leg) |
NGP-TRS (M) (per GJ, per Trade Leg) |
0 – 749,999 |
$0.075 |
$0.060 |
$0.050 |
750,000 – 1,499,999 |
$0.075 |
$0.050 |
$0.040 |
1,500,000 + |
$0.075 |
$0.040 |
$0.030 |
One-off volume trading fees:
Volume of one-off Trade (GJ) |
Standard Trading Fee for all Products (per GJ, per Trade Leg) |
0 – 49,999 |
$0.075 |
50,000 – 99,999 |
$0.060 |
100,000 – 199,999 |
$0.040 |
200,000 + |
$0.030 |
A new Statement of Charges for this fee structure is available here. This will replace the current Statement of Charges in the Market Rules from 1 November 2016.
Changes to fee settlement and market rules
In conjunction with the fee changes described above we are making some minor related changes to the Market Rules.
We have published an amended version of the market rules here. We will not formally consult on the changes, but welcome any feedback. The Effective Date for these amendments will be 1 December 2016.