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Volume Weighted FCAS Prices

In response to a request from the Australian Financial Markets Association (AFMA), on behalf of Market Participants, AEMO has agreed to calculate and publish a system volume weighted average (VWA) half-hour price for each Frequency Control Ancillary Service (FCAS) to assist participants in managing their risks. The Volume-Weighted Average half-hour prices will be determined on a system wide basis to correlate with the exposure of participants (recovery of FCAS payments is on NEM wide basis) and published once per day for each of the half hour periods in the previous trading day.

For example, for the Regulation Lower FCAS service, the system volume weighted average price for a half hour period would be equal to the NEM wide procurement costs for Regulation Lower FCAS for a half hour period divided by the total enabled volume for the corresponding half hour period.

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