Date first published on the Independent Market Operator's website: 22 October 2014
Closing date: 5:00pm Wednesday 19 November 2014
Current status: The Final Report was published on 12 December 2014
Background: Under clause 4.11.3C of the Market Rules, the Independent Market Operator (IMO) must conduct a review of the Relevant Level Methodology (methodology) every three years. The methodology, which is specified in Appendix 9 of the Market Rules, is used by the IMO to determine the quantity of Certified Reserve Capacity for a Facility for a given Reserve Capacity Cycle, where the Market Participant has applied for certification of the Facility (usually an Intermittent Generator) under clause 4.11.2(b).
In conducting a review, the IMO is required under clause 4.11.3C to:
- Examine the effectiveness of the methodology in meeting the Wholesale Market Objectives.
- Determine the values of the parameters K and U in step 17 of the methodology to be applied for each of the three Reserve Capacity Cycles commencing in the relevant period.
An independent consultant, Sapere Research Group, was engaged to assist the IMO with the 2014 Review and prepared a Draft Report for public consultation.
Documents relating to this consultation
Invitation for Submissions on Relevant Level Methodology Review - Draft Report [PDF 469kB]
IMO Final Report [PDF 370kB]
Sapere Final Report [PDF 1.2MB]
Values for the parameters K and U
In accordance with clause 4.11.3C of the Market Rules the IMO has determined the following values for the parameters K and U in step 17 of the Relevant Level Methodology: