Status of compensation claim: Final decision

Overview

On 22 June 2022, the Australian Energy Market Commission (AEMC) received notification of a claim for compensation under clause 3.14.6 of the National Electricity Rules (NER) from Basslink Pty Ltd (Basslink) following the application of the administered price cap during an administered price period in Queensland, New South Wales, Victoria and South Australia between 12 June 2022 and 15 June 2022.

Basslink is claiming compensation for direct costs only incurred in operating the Basslink interconnector during the administered price period. Basslink provided information in support of its claim on 1 August 2022.

Commencement of formal assessment

On 15 September 2022, the AEMC commenced formal assessment of the direct cost claim made by Basslink Pty Ltd under clause 3.14.6(k) of the NER.

Under the NER, the AEMC has 45 business days to make a final decision in relation to this claim.

The statutory notice of commencement is published below.

The AEMC extended the timeframe for making a final decision on Basslink's direct cost claim until 22 December 2022 due to the complexity of assessing the claim. The statutory notice of extension is published below.

Final determination

On 15 December 2022, the Commission published its final decision stating that Basslink is entitled to compensation in respect of its compensation claim for direct costs following the application of the administered price cap during an administered price period in Queensland, New South Wales, Victoria and South Australia in June 2022.  The amount of compensation that Basslink is entitled to is $15,257,754.

For more information, see the final decision document published below. 

Note: Basslink made a claim for confidentiality in respect of specific elements of its claim. The basis for seeking confidentiality is that the information is commercially sensitive. The decision document, therefore, redacts this confidential information.