Correction note:

This file was updated in May 2025 to correct the below data entry errors:

App A - VCR values - Bus

  • Table 1-3: the VCR for Industrial and Commercial sectors were incorrectly switched for years 2022 and 2023 only (cells E6:F7).
  • Table 1-4: the VCR for very large business sectors were incorrectly switched for year 2019 only (cells B13:B16).

App B – Detailed VCR – Res:

  • Tables 2-1 to 2-12: three values for 2024 Residential VCRs by event (cells B18, E27, and H35)

App B – Detailed VCR – Bus:             

  • Tables 2-13 to 2-18: two values for 2024 Business VCRs by event (cells B27 and I25)

App B – Consumption – Res:             

  • Table 2-37: average residential consumption values by state/territory (cells B19:B24 and B26)

These amendments have been noted within the updated file. 

The corrections have no impact on the calculation of the 2024 VCR as published: the values in the final report and fact sheet were published correctly and are unaffected. We apologise for any inconvenience caused. 

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2024-12-18 AER - Appendices A-C to final report - detailed values - 2024 VCR review (updated May 2025)

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Final report

Step

On 18 December 2024 we published our final report on the 2024 Values of Customer Reliability (VCR).  VCR seek to reflect the value that different types of customers place on reliable electricity supply and were last updated in 2019. 

The report sets out the methodology, the data collection and computation, and the final values. The updated values will be used as key inputs for energy businesses and the AER in determining the appropriate level of investment in reliability. The VCR cover unplanned outages of up to 12 hours, the most common type of unplanned outage in the electricity system.   

It follows our final determination on the 2024 methodology, published on 30 August. For the 2024 VCR update, we used the same survey-based methodology as in 2019, but we changed one of the data inputs to use more detailed data based on meter readings for individual customers. This will allow the AER to use more detailed and accurate residential consumption data to calculate the VCR, now and into the future.

Throughout the course of this review we engaged with market bodies, governments, network businesses, customer and industry representatives, and customers themselves. We acknowledge the considerable contributions of stakeholders who provided feedback, information, time, and effort to support to the 2024 VCR review. 

Authors

AER

Author