5-minute settlement

PIAC lodged a submission to the AEMC’s draft determination on the Five minute settlement rule change. PIAC reiterated its support for the rule change as it will lead to sustained lower costs for all consumers through greater efficiency in the wholesale electricity market and accelerating new technology introduction. PIAC understands that AEMO is able to update the necessary procedures and systems within the timeframe proposed, and on that basis, supports the AEMC’s implementation timetable.