NATIONAL THIRD PARTY ACCESS CODE FOR NATURAL GAS PIPELINE SYSTEMS - REG 8.5A

NATIONAL THIRD PARTY ACCESS CODE FOR NATURAL GAS PIPELINE SYSTEMS - REG 8.5A

8.5A .

                Any of the methodologies described in section 8.4 or permitted under section 8.5, may be applied:

            (a)         on a nominal basis (under which the Capital Base and Depreciation are expressed in historical cost terms and all other costs and revenues are expressed in current prices and a nominal Rate of Return is allowed); or

            (b)         on a real basis under which the Capital Base, Depreciation and all costs and revenues are expressed in constant prices and a real Rate of Return is allowed); or

            (c)         on any other basis in dealing with the effects of inflation,

                provided that the basis used is specified in the Access Arrangement, is approved by the Relevant Regulator and is applied consistently in determining the Total Revenue and Reference Tarrifs.

        [Section 8.5A inserted: Gazette 7 January 2000 p. 62.]