The Australian Energy Market Commission has published annual indexations 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 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 the 2023-24 financial year (compared with the 2022-23 financial year) are as follows:
|Market price cap||$15,500 / MWh||$16,600 / MWh|
|Cumulative price threshold||$1,398,100||$1,490,200|
The updated values, which will apply from 1 July 2023, and underlying calculations are available in a schedule of reliability settings on the AEMC website.