Budget & Fees

Under the Market Rules Chapter 2 Section 12.1.3, PSO is required to publish its finalised budget and fees for 5 consecutive fiscal years. Where there is under/over recovery at the end of each fiscal year, Chapter 2 Section 12.1.5 of the Market Rules required the PSO to publish the revised expenditure and revenue requirements and schedule of fees as soon as reasonably practicable. The revised expenditure and revenue requirements and schedule of fees (as at 1 Apr 2020) are shown below:

  FY 2016/17 FY 2017/18 FY 2018/19 FY 2019/20

FY 2020/21
(with projected FY2019/20
refund)

PSO finalised expenditure and revenue requirement for 5-fiscal year period ($'000)

24,781

26,837

27,483

28,212

29,300

Previous year's audited adjustments

(450)

(1,976)

(3,692)

(1,875)

-

Estimated un-audited adjustment for previous year

 -

 -

 -

 -

 (3,066)

PSO finalised expenditure and revenue requirement for each FY

24,331

24,861

23,791

26,337

26,234

Projected Electricity Sales (GWh)

48,664*

49,643*

50,445*

51,259

52,328

Estimated PSO Fees ($/MWh)**

$0.2500

$0.2504

$0.2358

$0.2569

$0.2507

Note:
(1)  * Actual electricity sales figure for previous fiscal years.
(2)  **Based on MWh traded (~2 times of projected electricity sales) in the wholesale electricity market.
(3)  The following PSO Fixed Fees were introduced with effect from 1 Jul 2018 as part of cost recovery of PSO fee. The total PSO’s expenditure and revenue remains the same as published in the above table.

  • Market Participant (MP) fee (annual) - $3,500 per MP
  • MP Registration fee (one-off) - $1,650 per legal entity registration
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