Fluxys Belgium Sa Class D · EURONEXT:FLUX
Fluxys Belgium Sa Class D — Investor Presentation (June 2016)
28 slides from Fluxys Belgium Sa Class D's investor presentation, Jun 15, 2016
Slide 1: Info Session, Wednesday 15 June 2016
INFO SESSION Wednesday 15 June 2016, 14:30 – 16:30
Slide 2: Non-binding document for discussion & information purposes only
2 Fluxys Belgium non-binding document for discussion & information purposes only 15 June 2016
Slide 3: Consultation content; Changes in details; Q&A
1. Consultation content 2. Changes in details 3. Q&A on Standard Transmission Agreement 4. Q&A on Access Code for Transmission 3 Fluxys Belgium non-binding document for discussion & information purposes only 15 June 2016
Slide 4: Consultations & Subscription – Q2/2016
CONSULTATIONS & SUBSCRIPTION – Q2/2016 2016 Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec QC SW 25/2 Final Services Allocation 2/2 20/2 Yearly Quarter Auctions Publicat. Auctions Auctions 7/2 8/3 30/5 6/6 Consult. Consult CREG ACT/STA Docs 7/3 28/3 Consult. Consult CREG ACT/STA Docs 06/06 01/07
Slide 5: New Services: Hub Services Integration and Within-day on Beach
NEW SERVICES Integration of HUB Services Within-day services on Beach • STA: hub services become a regulated services (provided under existing STA) • Balance-of-day capacity services enabled on EBS • ACT/A: − Description of service • Start-hour set by the system – FH+3 − Description of invoicing of
Slide 6: ACT General Improvements
ACT GENERAL IMPROVEMENTS Alignment with current processes Textual improvements • Integrate GOS Allocation • Improve Imbalance Smoothing Agreement into Attach C1 & G description in Attach C1 • Correct old references to webtrack • Describe Maintenance Planning • Correct IP naming inconsistencies publi
Slide 7: Agenda: Changes in details
1. Consultation content 2. Changes in details a) Within-Day Services on Beach b) HSA integration in Transmission Documents c) PRISMA Secondary 3. Q&A on Standard Transmission Agreement 4. Q&A on Access Code for Transmission 7 Fluxys Belgium non-binding document for discussion & information purposes
Slide 8: W/D on Zeebrugge Beach via EBS
W/D ON ZEEBRUGGE BEACH VIA EBS … Gas Day X-1 Gas Day X Gas Day X+1 6am 6am 6am 6am 24H = Full day 3am 23H … Start Time = FH(now)+3 18H Automatically set by system 9am … 1H 8 Fluxys Belgium non-binding document for discussion & information purposes only 15 June 2016
Slide 9: Agenda: Changes in details
1. Consultation content 2. Changes in details a) Within-Day Services on Beach b) HSA integration in Transmission Documents c) PRISMA Secondary 3. Q&A on Standard Transmission Agreement 4. Q&A on Access Code for Transmission 9 Fluxys Belgium non-binding document for discussion & information purposes
Slide 10: Integration of Hub Services: Overview of Changes in Documents
INTEGRATION OF HUB SERVICES OVERVIEW OF CHANGES IN DOCUMENTS HSA STA ACT/A Attach A: Operating procedures ACT/B ACT/C1 ACT/G 10 Fluxys Belgium non-binding document for discussion & information purposes only 15 June 2016
Slide 11: HSA: Proposed Contractual Transition (I)
HSA: PROPOSED CONTRACTUAL TRANSITION (I) Overview 2016 2017 June Jul Aug Sept Oct Nov Dec Jan Fev Mar Apr Consultation Document CREG (+ shippers introduction approval meeting) to CREG Letter sent to all hub customers: End of HSA (end of hub services for all (6 months) • notice of end HSA clients hav
Slide 12: HSA: Proposed Contractual Transition (II)
HSA: PROPOSED CONTRACTUAL TRANSITION (II) What does it mean concretely for you ? • As soon as CREG has approved changes to STA/ACT, you will receive a letter − Informing you that HSA will be ended 6 months later (according to HSA, article 6.1) − Inviting you to subscribe to hub services, under STA •
Slide 13: Agenda: Changes in details
1. Consultation content 2. Changes in details a) Within-Day Services on Beach b) HSA integration in Transmission Documents c) PRISMA Secondary 3. Q&A on Standard Transmission Agreement 4. Q&A on Access Code for Transmission 13 Fluxys Belgium non-binding document for discussion & information purposes
Slide 14: PRISMA Secondary
PRISMA SECONDARY • All types of assignment will be made possible via PRISMA − Full assignment or Transfer of Use − OTC reported via PRISMA, or market-based trading (aka FCFS or CFO) • Reporting of OTC towards Fluxys Belgium, via assignment form, remains possible • Please note that contract reference
Slide 15: PRISMA Secondary Market Configuration
PRISMA SECONDARY MARKET CONFIGURATION 4 working-days Field is mandatory for REMIT reporting supported 4 working-days 15 Fluxys Belgium non-binding document for discussion & information purposes only 15 June 2016
Slide 16: Contract Reference
CONTRACT REFERENCE source/ID of underlying deal • REMIT reporting aims at “contract lifecycle” tracking − When and at which conditions was is bought − When and at which conditions was it further (re)traded • As from April 7th 2016, an assignment must therefore always refer to the contract from which
Slide 17: Contract Reference on Portfolio
CONTRACT REFERENCE ON PORTFOLIO (source/ID of underlying deal) This reference is used as tracking ID for REMIT reporting 17 Fluxys Belgium non-binding document for discussion & information purposes only 15 June 2016
Slide 18: Contract Reference on Form
CONTRACT REFERENCE ON FORM (source/ID of underlying deal) Contract Reference is expected here! 18 Fluxys Belgium non-binding document for discussion & information purposes only 15 June 2016
Slide 19: Contract Reference on PRISMA
CONTRACT REFERENCE ON PRISMA (source/ID of underlying deal) Contract Reference is expected here! This is currently on PRISMA a free-text field, but will be made mandatory 19 Fluxys Belgium non-binding document for discussion & information purposes only 15 June 2016
Slide 20: Agenda: Q&A on Standard Transmission Agreement
1. Consultation content 2. Changes in details 3. Q&A on Standard Transmission Agreement 4. Q&A on Access Code for Transmission 20 Fluxys Belgium non-binding document for discussion & information purposes only 15 June 2016
Slide 21: Main Proposed Changes in Documents: STA
MAIN PROPOSED CHANGES IN DOCUMENTS STA • Overall: wording improvements • GC/Article 2 (“operation & maintenance”) − text moved from ACT/C1 to STA, but no content change • GC/Article 6.5 (process in case of invoice dispute): − Removal of “Escrow Account” system in case of dispute of VAR invoice (not
Slide 22: STA Creditworthiness Principle
MAIN PROPOSED CHANGES IN DOCUMENTS STA Creditworthiness principle STA HSA New STA 3 options 2 options 3 options • Bank guarantee (2 x fix • Rating (A-) • Collateral (bank guarantee or cash invoices with, min 100 deposit). Level of collateral not k€) • Collateral (only higher than previous HSA and ST
Slide 23: Main Proposed Changes in Documents: STA Definitions
MAIN PROPOSED CHANGES IN DOCUMENTS STA • Definitions: − Some definitions moved to/from ACT/A (e.g. “Fix/Flex”, Monthly Capacity Fee for Zeeplatform”, etc.) − New, simplified definition of “Services” or “Transmission Services”, which includes all services offered under STA (including Hub Services) −
Slide 24: Agenda: Q&A on Access Code for Transmission
1. Consultation content 2. Changes in details 3. Q&A on Standard Transmission Agreement 4. Q&A on Access Code for Transmission 24 Fluxys Belgium non-binding document for discussion & information purposes only 15 June 2016
Slide 25: Main Proposed Changes in Documents: ACT/A, ACT/B
MAIN PROPOSED CHANGES IN DOCUMENTS ACT/A, ACT/B • Overall: deletion of the chapter “Interpretation” which is sent to ACT- Main + wording improvements • Attachment A: − Description of the hub services and the related invoicing part + some new definitions (Variable hub fee + fix hub fee) − New definit
Slide 26: Main Proposed Changes in Documents: ACT/C1
MAIN PROPOSED CHANGES IN DOCUMENTS ACT/C1 • Overall: wording improvements • Inclusion of hub services (principles are unchanged) − Section 3: Nomination process & lead times for hub services − Section 4.3: Matching rules for Hub services − Section 4.6: Balance check on Zeebrugge Beach Physical tradi
Slide 27: Main Proposed Changes: Other ACT Attachments + TP
MAIN PROPOSED CHANGES IN DOCUMENTS in others ACT-attachments + TP • Overall: deletion of the chapter “Interpretation” which is sent to ACT- Main + wording improvements • Attachment F: − Alignment of the document with the new hub service regime • Attachment G: − New form for HUB services • Transmissi
Slide 28: Thank You for Your Attention!
THANK YOU FOR YOUR ATTENTION! 28 Fluxys Belgium non-binding document for discussion & information purposes only 15 June 2016