69CPI adjustment to base penalty rates—the Act, Schedule 4A, cl 16(2)(a)(ii)

69 CPI adjustment to base penalty rates—the Act, Schedule 4A, cl 16(2)(a)(ii)

69 CPI adjustment to base penalty rates—the Act, Schedule 4A, cl 16(2)(a)(ii)

The base penalty rate for each year is the amount per notional megawatt hour calculated as follows, rounded up to the nearest cent—

where—

Base penalty rateyear is the base penalty rate for the year.

CPIyear-1 is the Consumer Price Index for the September quarter of the immediately preceding year.

CPISep 21 is the Consumer Price Index for the September quarter 2021.