The AEMC today held a stakeholder briefing on a rule change proposal from the Australian Energy Market Operator (AEMO) to delay the implementation of five minute settlement and global settlement by 12 months.

More than 120 stakeholders attended the briefing, where AEMC explained how it is considering the issues raised in the rule change proposal and AEMO explained different scenarios for how a proposed 12-month delay might work.

The AEMC wants to know whether a delay would help or hinder energy businesses to adapt during COVID-19 and will weigh up the evidence gathered as part of the rule change process.

The suggestion to consider a delay to the implementation of the rules arose as the energy market bodies assessed ways of easing regulatory pressure on industry during the COVID-19 pandemic. Stakeholders have expressed varied views about the impact of a delay and can make further formal submissions by 11 June.

The Commission has noted in our recent consultation paper that the reform is a critical market reform that will go ahead. Indefinite delays are not being considered.

The slide deck presented at the briefing is now available. Anyone who would like to meet with us to discuss their submission or issues relating to the rule change process can contact Prabpreet Calais.