The AEMC has today published a final determination confirming that no delay is needed to the implementation of five minute settlement (5MS) and that it will begin as scheduled on 1 October 2021.
The determination was on a precautionary rule change request submitted by the Australian Energy Market Operator (AEMO). AEMO sought to delay 5MS if an issue occurred that it could not manage for the successful start of the reform on 1 October 2021.
In making its decision, the Commission considered AEMO’s readiness assessment published on 1 September that recommended no delay and stakeholder submissions agreed.
The Commission’s decision to make no rule ensures the benefits of 5MS will be realised as early as possible. It also means no delay will be needed to other regulatory reforms (e.g. global settlements and wholesale demand response) and consequently their benefits will also be realised as quickly as possible.
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