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Benchmark Reserve Capacity Price

The Reserve Capacity mechanism is intended to ensure that the South West Interconnected System has adequate installed capacity available from generators and demand-side management options at all times in order to:

  • Cover expected system peak demand, including additional capacity to cover the failure of the largest generator on the system and a capability to respond to frequency variations.
  • Remove the need for high and volatile energy prices in the Wholesale Electricity Market.

The Australian Energy Market Operator (AEMO) administers the Reserve Capacity mechanism.

A Benchmark Reserve Capacity Price is set for each Capacity Year and determines the expected cost of new entrant peaking plant and other costs required to establish plant capable of supplying electricity to the South West Interconnected System.

From 1 July 2021, the ERA must determine the value of the Benchmark Reserve Capacity Price consistent with the method specified in the Wholesale Electricity Market rules. This includes public consultation on the proposed value before the ERA determines the Benchmark Reserve Capacity Price to apply in the capacity year.

Current decision

Date Documents File type
29-Jan-21 Decision 2023/24
Adobe PDF 342 kB

29-Jan-21 AEMO Submission 2023/24
Adobe PDF 645 kB

Previous years decisions

Date Documents File type
16-Dec-19 Decision 2022/23 (Historical Document)
Adobe PDF 236 kB

24-Jan-19 Decision 2021/22 (Historical Document)
Adobe PDF 398 kB

25-Jan-18 Decision 2020/21 (Historical Document)
Adobe PDF 688 kB

31-Jan-17 Decision 2019/20 (Historical Document)
Adobe PDF 505 kB

Description: Decision on the Benchmark Reserve Capacity Price proposed by the Australian Energy Market Operator for the 2019/20 Reserve Capacity Year
08-Mar-16 Decision 2018/19 (Historical Document)
Adobe PDF 385 kB

Description: Maximum Reserve Capacity Price Decision 2018 to 2019
30-Jan-13 Decision 2015/16 (Historical Document)
Adobe PDF 323 kB

16-Dec-19 AEMO Submission 2022/23 (Historical Document)
Adobe PDF 596 kB

24-Jan-19 AEMO Submission 2021/22 (Historical Document)
Adobe PDF 682 kB

25-Jan-18 AEMO Submission 2020/21 (Historical Document)
Adobe PDF 1 MB

Description: AEMO’s proposal for the 2020–21 BRCP
31-Jan-17 AEMO Submission 2019/20 (Historical Document)
Adobe PDF 1 MB

Description: Submission - Benchmark Reserve Capacity Price for the 2019/20 Reserve Capacity Year - AEMO
08-Mar-16 AEMO Submission 2018/19 (Historical Document)
Adobe PDF 2 MB

Description: Submission - Maximum Reserve Capacity Price for the 201819 Capacity Year - AEMO
30-Jan-15 Decision 2017/18 (Historical Document)
Adobe PDF 112 kB

Description: Decision on the Maximum Reserve Capacity Price Proposal for 2017/18
30-Jan-14 Decision 2016/17 (Historical Document)
Adobe PDF 298 kB

30-Jan-13 AEMO Submission 2015/16 (Historical Document)
Adobe PDF 15 MB

27-Feb-12 Decision 2014/15 (Historical Document)
Adobe PDF 178 kB

28-Jan-11 Decision 2013/14 (Historical Document)
Adobe PDF 140 kB

29-Jan-10 Decision 2012/13 (Historical Document)
Adobe PDF 134 kB

20-Jan-09 Decision 2011/12 (Historical Document)
Adobe PDF 107 kB

Description: (Competition, Markets & Electricity Division) Markets>Wholesale Electricity Market Surveillance>Maximum Reserve Capacity Price
16-Jan-08 Decision 2010/11 (Historical Document)
Adobe PDF 85 kB

Description: (Competition, Markets & Electricity Division) Markets>Wholesale Electricity Market Surveillance>Maximum Reserve Capacity Price
30-Jan-07 Decision 2009/10 (Historical Document)
Adobe PDF 2 MB

Description: (Competition, Markets & Electricity Division) Markets>Wholesale Electricity Market Surveillance>Maximum Reserve Capacity Price
Page last updated: 02 Jul 2021