Five Minute Settlement
The Australian Energy Market Operator (AEMO) is working with industry to implement changes arising from an Australian Energy Market Commission (AEMC) Final Determination to implement Five Minute settlement in the National Electricity Market, which will commence on 1 July 2021, however there are transitional arrangements that will be in place.
This Rule change requires AEMO to amend a range of procedures prior to December 2019.
AEMO is planning on consulting on the required procedure changes with the aim to engage early with stakeholders on the expected changes prior to going into formal consultation.
This rule change impacts indirectly with a number of other documents (which will be updated).
A major component of this project is changes to market systems, including:
- Meter Data Management – to be able to receive five-minute metering data and facilitate new profiling calculations.
- Settlement – settlement based on five-minute energy data and distribution of appropriate data for reconciliation.
- Bidding – receipt of bids/offers with five-minute granularity.
Following the soon to be released relevant Terms of References, Working Groups will be established to cover specific work streams including, procedures, systems and readiness.
AEMO’s website will be updated as further information is available.
For Further Information
Please direct any queries regarding the Five-Minute Settlement (5MS) Working Groups to firstname.lastname@example.org.