Rule Changes: Open

Five Minute Settlement

Reference:
ERC0201
Stage:
Preparation of Directions Paper
Proponents:
Sun Metals Corporation Pty Ltd
Project Leader:
Ben Noone
Date initiated:
19-May-2016
Overview

Sun Metals Pty Ltd has submitted a rule change request to reduce the time interval for settlement in the wholesale electricity market from 30 minutes to five minutes.

Sun Metals Pty Ltd has submitted a rule change request to reduce the time interval for settlement in the wholesale electricity market from 30 minutes to five minutes.

The proposal involves compulsory five minute settlement for generators, scheduled loads and market interconnectors. Demand side participants in the wholesale market, including retailers and large consumers, could choose to be settled on either a five or 30 minute basis.

On 19 May 2016 the Commission initiated its assessment of the proposed rule with the publication of a consultation paper for stakeholder comment.

On 22 August 2016 the Commission extended the period of time to make the draft determination on the rule change proposal to 30 March 2017, under section 107 of the National Electricity Law. The Commission considered the extension necessary due to the complexity of the issues raised by the rule change request and stakeholder submissions on the consultation paper.

On 2 February 2017 the Commission extended the period of time to make the draft determination on the rule change proposal to 6 July 2017, under section 107 of the National Electricity Law, following requests from stakeholders. The Commission considered the extension necessary to enable further consultation to better understand the costs and benefits of the proposal and implementation issues.

A directions paper will be published on 11 April 2017 setting out the Commission’s initial positions on the key issues raised in the rule change request. Stakeholders will be able to make submissions on the directions paper and also participate in further stakeholder engagement ahead of a draft determination in July 2017. These opportunities will be published in the AEMC’s weekly e-newsletter which you can subscribe to subscribe to here

 

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