On 28 April 2015 Gas Industry Company issued its Final Recommendation on 10 October 2014 MPOC Market Based Balancing (MBB) Change Request. MBB will be introduced on 1 October 2015 and allows for the daily cash-out of parties with imbalance position outside of the allowed tolerance. Cash-outs that Vector receives as a Transmission Pipeline Welded Party under the MPOC will be passed to its shippers through a VTC mechanism known as the Balancing and Peaking Pool (BPP). To provide more timely information to shippers, Gas Industry Co is running a daily allocation (D+1) trial. A number of consequential changes are also required, in particular:
On 14 August 2015, Contact Energy issued a Change Request Notification proposing VTC changes that would allow the BPP to be performed daily (at present it is performed monthly). In particular, this would require daily information from the Gas Transfer Agent about each shipper’s receipts into the Vector transmission system, so the proposed VTC change requires parties to provide traded gas information under their respective Gas Transfer Agreements by 9am each morning.
On 28 August 2015, Contact Energy issued a Draft Change Request, and invited submissions by 11 September 2015.
The Change Request received the required support and the amendments relating to Gas Transfer Agreement timing arrangements were added to the VTC which came into effect on 1 October 2015. The current version of the VTC and any additional information can be found here.