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AEMC release their final determination on five minute settlement

The Australian Energy Market Commission (AEMC) has released its final determination into the five minute settlement rule proposal. The AEMC decided to change the draft rule however most of the changes it made were fairly minimal. The substantial change, that generators would be paid on a five minute basis instead of 30 was adopted.

The most material change was that all demand would be settled on the five minutes instead of 30 minutes which was originally proposed.  This means that all type 4 meters will have to be able to record five minute data. AEMC has allowed a transitional period for this change to take place.

The final rule will commence 1 July 2021 with transitional provisions starting 19 December 2017.