Requirement for annual review of Reference Tariffs Sample Clauses

Requirement for annual review of Reference Tariffs. (a) Prior to the beginning of each Year during the Term (except for the first Year) the Reference Tariff for each Coal System will be adjusted by Aurizon Network to reflect the variations to the applicable System Allowable Revenue: (i) for the relevant Year due to an adjustment to Second Year System Allowable Revenue under clause 4.5; and (ii) for the relevant Year and each subsequent Year during the Term in accordance with clause 4.1(b). (b) Aurizon Network will submit to the QCA by 28 February of each Year during the Term: (i) a revised System Forecast for each Coal System for the next Year; (ii) details of the methodology, data and assumptions used to estimate the revised System Forecast; (iii) an adjustment to the System Allowable Revenue for each Coal System for the next Year for changes in maintenance costs attributable to the difference between the approved System Forecast and revised System Forecasts calculated as: (A) the System Forecast for that Coal System for that next Year minus the revised System Forecast, under clause 4.1(b)(i), for that Coal System for that next Year; multiplied by (B) the Short Run Variable Maintenance Cost Rate for that next Year, where the Short Run Variable Maintenance Cost Rate for a Year is as follows: Year Short Run Variable Maintenance Cost Rate ($/’000gtk) 2013/14 0.98 2014/15 1.01 2015/16 1.00 2016/17 1.01 and (iv) the proposed adjustments, for each Coal System, arising from any difference between the relevant revised System Forecast and the System Forecast used for the purpose of determining the System Allowable Revenue for that Coal System, to: (A) the System Allowable Revenue for the Coal System for each subsequent Year during the Term; and (B) the Reference Tariffs for the Coal System for the next Year. (c) If, after receiving a submission under clause 4.1(b), the QCA considers that an error has been made in the proposed revised System Forecast or adjustments to System Allowable Revenue or Reference Tariffs for a Coal System, then: (i) the QCA must notify Aurizon Network by the 1 May of the relevant Year, providing details of the error and how the proposal needs to be amended in order for the QCA to approve it; and (ii) after receiving that notice, Aurizon Network must within 10 Business Days either: (A) show why it does not consider that the error has been made; or (B) resubmit a corrected version of the submission. (d) The QCA will approve the revised System Forecast, System Allowable Revenues and Reference ...
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