We appreciate the opportunity to comment on the National Electricity Amendment (Delayed Implementation of Five Minute and Global Settlement) Rule 2020 Consultation Paper (the Paper) by the Australian Energy Market Commission (the AEMC) on 14 May 2020.
In our submissions on the initial consultation paper and the Directions Paper and in our response to the Draft Determination, we supported the early alignment of dispatch and settlement intervals in the wholesale market via Five Minute Settlement. We see the change as critical for the transition of the electricity system because it improves the economics of storage and is a pre-requisite for greater consumer or ‘demand-side’ participation. We are not assured that it is necessary to delay the implementation of this important reform.
We also believe that the prioritisation exercise the market bodies have undertaken because of COVID19 has longer-term value which we discuss in this submission.
The full submission can be read here.