NI Network Gas Transmission Code Modification No 14
| Published date | 23 November 2022 |
| Energy Sector | Gas networks |
Northern Ireland Authority for Utility Regulation
Queens House, 10-14 Queen Street, BELFAST, BT1 6ED
T: +44 (0) 28 9031 1575 F: +44 (0) 28 9031 1740
Mr Stephen English
Gas Market Operator (NI),
Fourth Floor,
The Arena Building,
85 Ormeau Road,
Belfast,
BT7 1SH
Ref: NET/G/RMcL/606
22 November 2022
Dear Stephen,
RE : NI Network Gas Transmission Code Modification No 14
Thank you for your submission of the Final Modification Report (FMR) in respect of
the above named modification. The purpose of the modification is to reflect in the NI
Network Gas Transmission Code the replacement of references to LIBOR, which
ceased on 31 December 2021, with Bank of England base rate.
Authority review and conclusions
The Utility Regulator has considered the information provided in this FMR. We note
that the Transporter received one response to the Initial Modification Report (IMR),
which raised no objection. The Utility Regulator also notes that no changes were made
to the Proposed Modification following the consultation and that the Transporter has
considered that the modification will have no impact on Designated Pipeline
Operators, Adjacent Transporters and/or relevant agreements in respect of the
Northern Ireland gas network.
We are content that the proposal would better facilitate the ‘relevant objective’. It will
support the efficient development and operation of the network by ensuring that
interest rates can be applied by switching to the Bank of England base rate. The UR
anticipates consulting on a complementary change to the gas conveyance licences in
due course.
We agree that these changes should support the efficient development and operation
of the NI Gas Transmission Network.
To continue reading
Request your trial