Consistent with most global fuel charging regimes, from 1 October 2020, a Fuel Service Rate (FSR) will be charged on a per litre basis for fuel supplied to the Facilities.
This charge is designed to cover:
- the return on the purchase costs for the Facilities;
- ongoing operating and maintenance costs that will now be borne by SYD;
- additional insurances required by SYD in relation to the Facility;
- environmental liabilities and remediation costs assumed by SYD;
- initial capital works required to rectify and/or replace assets that are at end of life or are no longer code compliant; and
- ongoing capital works to supplement and/or enhance assets to meet fuel demand requirements
SYD has adopted a long-term view of the investment in the Facilities and has set the following FSR:
|Fuel Service Rate (from 1 October 2022 to 30 September 2023)||1.21c/litre (excl. GST)|
|Fuel Service Rate (from 1 October 2023)||1.29c/litre (excl. GST)*|
Rate will increase annually by CPI and may be adjusted in the future to cover the costs of additional capital works undertaken by SYD to replace, modify or expand the Facilities.
*Over the twelve months to the June 2023 quarter, the CPI rose 6.0% (Source: Australian Bureau of Statistics).