David Lawrence discussed his experiences in developing markets and new products for markets, including: the importance of homogeneity in reducing costs, and increasing efficiency, liquidity, and availability of risk management tools. the risks of vested interests for a market. increasing liquidity through introducing intermediaries 7 Draft Terms of The team discussed the draft (All) Provide feedback on Reference Terms of Reference and: the Draft Terms of Noted the starting point from Reference to be finalised the work done by the AEMC. next meeting. Clarified the level of scope for the group. Commented on the potential for an assessment framework. Commented that emphasis needs to be given to the goal of facilitating secondary capacity market trading, and the scope is to find solutions for current impediments. 8 Starting a road As a starting point, the group (AL) Develop a table map considered the following items as comparing the standard priorities for consideration: agreements available from Operational terms pipeline operators. Examine standard plate’ ‘boiler (All) Consider potential contracts contacts to provide the Examine terms at perspective of an conceptual level. intermediary. Identify risk that is managed (or not) through the contracts. Assess distance to standardisation. Trading scenarios. Inclusion of an intermediary in the project team or as a guest to project team meetings. 9 Next Meeting: The team noted the date of the (All project team Thursday, 16 next meeting. members) Give March 2017 consideration to previous to be included on the agenda experiences with for the next meeting: standardising contracts. Presentations (10-15mins) on previous experience with standardisation of contracts. Angelo Mantsio to present on current observations Terms of Reference to be finalised. Upcoming meetings: Define the scope and projected road map. Develop assessment framework.
David Lawrence discussed his experiences in developing markets and new products for markets, including: the importance of homogeneity in reducing costs, and increasing efficiency, liquidity, and availability of risk management tools. the risks of vested interests for a market. increasing liquidity through introducing intermediaries 7 Draft Terms of Reference The team discussed the draft Terms of Reference and: Noted the starting point from the work done by the AEMC. Clarified the level of scope for the group. Commented on the potential for an assessment framework. Commented that emphasis needs to be given to the goal of facilitating secondary capacity market trading, and the scope is to find solutions for current impediments. (All) Provide feedback on the Draft Terms of Reference to be finalised next meeting. 8 Starting a road map As a starting point, the group considered the following items as priorities for consideration: Operational terms Examine standard ‘boiler plate’ contracts Examine terms at conceptual level. Identify risk that is managed (or not) through the contracts. Assess distance to standardisation. Trading scenarios. Inclusion of an intermediary in the project team or as a guest to project team meetings. (AL) Develop a table comparing the standard agreements available from pipeline operators. (All) Consider potential contacts to provide the perspective of an intermediary. 9 Next Meeting: Thursday, 16 March 2017 The team noted the date of the next meeting. to be included on the agenda for the next meeting: Presentations (10-15mins) on previous experience with standardisation of contracts. Angelo Mantsio to present on current observations Terms of Reference to be finalised. Upcoming meetings: Define the scope and projected road map. Develop assessment framework. (All project team members) Give consideration to previous experiences with standardising contracts.
20170228%20gmrg%20standardisation%20pt%20-%20minutes%201.docx