The Australian Energy Market Commission has republished updates to key reliability settings that apply to the national electricity market.
Under the National Electricity Rules, the Australian Energy Market Commission is required to adjust the market price cap and cumulative price threshold for the national electricity market, in line with the consumer price index, by 28 February each year. The schedule that was originally published on 18 February 2021 was incomplete because it did not account for changes in the calculation of the cumulative price threshold that will arise from the commencement of five minute settlement on 1 October 2021.
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.
Using the method set out in the National Electricity Rules, the values for the market price cap and cumulative price threshold for 1 July 2021-30 September 2021 (compared with the 2020-21 financial year) are:
|1 July 2020-30 June 2021||1 July 2021-30 September 2021|
|Market price cap||$15,000 / MWh||$15,100 / MWh|
|Cumulative price threshold||$224,600||$226,500|
The values for the market price cap and cumulative price threshold for 1 October 2021-30 June 2022 are:
|1 October 2021-30 June 2022|
|Market price cap||$15,100 / MWh|
|Cumulative price threshold||$1,359,100|
The updated values and underlying calculations are available in a schedule of reliability settings on the AEMC website.