The AEMC has today advised there is a further and final opportunity for eligible participants to put in a claim for administered pricing compensation.
With AEMO notifying the market that the administered pricing period has officially ended in South Australia at 0400 hours on 22 June 2022, and in Queensland, New South Wales and Victoria at 0400 hours on 23 June 2022, eligible participants now have one final chance to put in a notice of claim if they incurred a net loss during this period.
If participants did not make a claim in the first round they now have until 29 June 2022 (South Australia) and 30 June 2022 (Queensland, New South Wales and Victoria) to provide the AEMC and AEMO with written notification of their claim.
The requirements for a valid claim are as follows:
- The claimant is an eligible party in accordance with 3.14.6(b) of the NER, i.e. a scheduled generator, non-scheduled generator, scheduled network service provider, scheduled load, demand response service provider or ancillary service provider.
- The notice has been sent to the AEMC by the due date. Notices for the administered pricing period in South Australia are due by 29 June 2022, and notices for the administered pricing period in Queensland, New South Wales and Victoria are due by 30 June 2022.
- The written notice has been sent to both:
- The notice states the administered price period(s) and price limit event(s) for which the claim relates as per section 3 of the guidelines. (Price limit events(s) refer to the actual trading intervals in which the spot price in a relevant region was either set by the administered price cap or reduced by scaling from an upstream region).
- The notice states the region(s) in which the administered price period(s) and price limit event(s) applied as per section 3 of the guidelines.
- If there are multiple claims within the notice, it should clearly identify which region(s) and price limit event(s) applied to each party.
- The notice states whether the claim is a direct cost claim or a claim that includes opportunity costs. It is possible to claim direct costs and opportunity costs for the same price limit event.
A valid example is as follows:
Party: [Relevant eligible party name]
Category of registered participant: [e.g. scheduled generator]
Region: [e.g. NSW]
Administered price period and price limit event(s) that applied: [Start date and time, end date and time]
Type of compensation: [Direct costs/opportunity costs]
The AEMC’s assessment of APC compensation will take into account any other compensation claimants have received, such as compensation due to market suspension pricing schedule periods, AEMO intervention events or compensation for directions.
The APC compensation guidelines can be accessed here.
To lodge a claim or for more information please contact firstname.lastname@example.org.
Contact: Georgina Kentwell - 0411043964