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 |