Fee Changes

We have carried out a review of our fees. We have developed a new fee structure and series of amendments to the Market Rules that aim to encourage and reward longer term and increased volume trading.

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

  • 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