In our Values of Customer Reliability (VCR) final decision on methodology we outlined a process for applying annual updates to the VCR. The annual adjustment mechanism applies an annual change in the September quarter CPI. We will continue to adjust the VCR annually for CPI and will revisit this approach in the next VCR review due by 31 December 2024.

• On 18 December 2020 we updated the VCR based on a CPI of 0.69 per cent
• On 18 December 2021 we updated the VCR based on a CPI of 3.01 per cent
• On 18 December 2022 we updated the VCR based on a CPI of 7.27 per cent

Network businesses, market operators and regulators that are required to apply the VCR should adopt the adjusted values from 18 December each year.