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EMC Budget and Admin Fees
Budget for FY2013/2014
Under the Market Rules Chapter 2 Section 11.1.6, EMC is required to publish its proposed expenditure, revenue and schedule of fees as soon as reasonably practicable following the receipt of the Energy Market Authority's approval. On 19 March 2013, the Authority has approved the EMC's budget as attached containing the requisite items.
Recovery of Admin Fees in FY2013/2014
Under a price cap regime as determined by the EMA on 13 March 2013, EMC will be recovering 28.48 cents/MWh from the market with effect from 1 April 2013.
In accordance to the revenue regulatory framework, EMC will be refunding monies arising from the audited revenue adjustments of FY2012/2013 to the market participants with effect from 1 September 2013 to 31 March 2014. The total amount refundable is as follows:
|
|
Refund/(Recovery) |
|---|---|
|
|
$ |
|
Depreciation adjustment |
2,214,004.36 |
|
Exogenous items |
566,130.37 |
|
Interest on NEMS bank accounts |
21,698.85 |
|
PIMS bonus |
(415,183.43) |
|
Total revenue adjustments refundable |
2,386,650.15 |
