The AEMC has released updates to key reliability settings that apply to the national electricity market. Under the National Electricity Rules (NER) the market price cap and cumulative price threshold for the national electricity market must be adjusted in line with the consumer price index by 28 February each year.
The market price cap is the maximum price that can be reached on the spot market during any dispatch and trading interval. The cumulative price threshold is the maximum price across seven days’ worth of trade.
The market price cap and cumulative price threshold for the 2022-23 financial year, compared with the period from 1 October 2021 to 30 June 2022, are:
|1 October 2021 to 30 June 2022||1 July 2022 to 30 June 2023|
|Market price cap||$15,100 / MWh||$15,500 / MWh|
|Cumulative price threshold||$1,359,100||$1,398,100|
The 2021-2022 values were reset in October 2021 to align with the new 5-minute settlement arrangements.
The updated values and underlying calculations for 2022-23 are in a schedule of reliability settings on the AEMC website.