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TICCS® 2020 change log

Document: The Infrastructure Company Classification Standard

Document version: TICCS 2018.10

Change no.

Location of change

Current

Description of change

I/c

Date submitted

Date approved

Status

TICCS001

TICCS Overview

Information entailed below:

TICCS, A Standard for the Industry

TICCS, Structure and Methodology

Key Features of TICCS

The TICCS Comparative Advantage

Inclusion of TICCS definition “What is TICCS?”

TW

JL

26 Feb 2020

28 Feb 2020

Approved

TICCS002

Defining Infrastructure

Definitions and perspectives by various parties (i.e. OECD, World Bank and EIOPA)

Defining how infrastructure cascaded into the four pillars.

Inclusion of fundamental economic criteria (Single-use investment, sunk or irreversible capital investment, large size requiring a long repayment period, high operating leverage, infrastructure as a service and not a store of value)

TW

JL

26 Feb 2020

28 Feb 2020

Approved

TICCS003

Pillar 1: Business Risk

BR10 – Fully contracted income

Availability-based infrastructure or project

Take-or-pay off-take agreement

Feed-in tariff

Capacity agreements

Renewable obligation certificates

Large-scale generation certificates (LGCs) and small-scale technology certificates (STCs) BR11 – Partially contracted income

BR11 – Partially-contracted income

Shadow tolling arrangements

Partial capacity agreements

Partial power purchase agreements

Tolling agreements

Reclassification of synonyms

BR10 – Fully contracted income

· Availability-based infrastructure or project

· Take-or-pay off-take agreement

· Capacity agreements

·  Tolling agreements

· Large-scale generation certificates (LGCs) and small-scale technology certificates (STCs) BR11 – Partially contracted income

BR11 – Partially-contracted income

· Shadow tolling arrangements

· Partial capacity agreements

· Partial power purchase agreements

· Feed-in tariff

TW

JL

26 Feb 2020

28 Feb 2020

Approved

TICCS004

Pillar 2: Industrial Activities and Assets

8 Industrial Superclass

32 Industrial Class

85 Industrial Asset Subclass

Subclasses

Solid Waste Treatment (IC2010)

Water Treatment (IC2020)

Pipeline Companies (IC4010)

Inclusion of further classes and subclasses

8 Industrial Superclass

33 Industrial Class

95 Industrial Asset Subclass

Renaming of subclasses

Waste treatment (IC2010)

Water Supply and Treatment (IC2020)

Natural Resources Transportation Companies (IC4010)

TW

JL

26 Feb 2020

28 Feb 2020

Approved

TICCS005

Pillar 4: Corporate Governance

CG10 – Monitored project companies

CG11 – Unmonitored project companies

CG20 – Monitored infrastructure corporates

CG21 – Unmonitored infrastructure corporates

CG10 – With creditor oversight project companies: Infrastructure project companies with presence of external senior debt

CG11 – Without creditor oversight project companies: Infrastructure project companies without presence of external senior debt

Removed CG20 and CG21

TW

JL

26 Feb 2020

28 Feb 2020

Approved

TICCS006

Implementation Guidelines

Implementations guidelines to the four pillars are absent.

Inclusion of TICCS 2020 Implementation Guidelines

TW

JL

26 Feb 2020

28 Feb 2020

Approved

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