Our draft determination sets out the methodology we intend to use when we undertake our five-yearly update of the Values of Customer Reliability (VCR) in 2024. The VCR estimates the value various types of customers place on reliable electricity supply under different conditions.
The VCR play an important role in ensuring customers pay no more than necessary for safe and reliable energy, helping regulated energy businesses identify the right level of investment to deliver reliable energy services to customers.
We are required to review the VCR methodology and update the VCR at least once every five years.
Interested stakeholders are invited to make submissions on the proposed VCR methodology by 23 April 2024. We will then consider stakeholder feedback and finalise the VCR methodology.
We expect to publish our final determination on the VCR methodology in June 2024, with the final updated VCR to be published by December 2024.
Written submission and any questions about the 2024 VCR review should be emailed to VCR2024
aer [dot] gov [dot] au (VCR2024[at]aer[dot]gov[dot]au).
Interested stakeholders are also invited to participate in a public forum on the draft determination on 4 April 2024. Further detail on the forum and how to register is available on the 2024 VCR web page.
The AER will separately undertake work to address outages that are longer than 12 hours.