On 22 March 2024 we released our consultation paper* on the VCR methodology (consultation paper) and commenced our formal consultation under the National Electricity Rules. 

It sets out the updated VCR methodology (by way of proposed amendments to the 2019 VCR methodology), the reasons for the updated VCR methodology and the reasons for considering the proposed amendments to the VCR methodology are a Non-material Proposal.

* The consultation paper was initially published as a draft determination under the expedited rules consultation procedure. Following stakeholder feedback, we decided to switch to the standard rules consultation procedure and the draft is now considered a consultation paper. 

We held an online stakeholder forum on 4 April 2024. The forum was attended by a range of stakeholders and there were presentations from the AER, the AEMC and the EUAA.

The forum provided an opportunity for stakeholders to discuss our draft determination on the values of customer reliability methodology. Stakeholders also had the opportunity to ask questions about, and comment on, the three presentations.

Our formal consultation commenced with the publication of our draft determination on 22 March 2024 using the expedited rules consultation procedure in the National Electricity Rules (NER). Submissions on the Values of Customer Reliability draft determination closed on 9 April 2024.

Submissions on the Values of Customer Reliability first draft determination closed on 23 April 2024.