On 11 April the Commission outlined the impacts they anticipate from changing the settlement period for the electricity spot price from 30 minutes to five minutes in a directions paper. A move to five minute settlement would align the physical electricity system that currently matches demand and supply every five minutes with the price signal provided by the spot market for that five minute period. It is anticipated that an efficient price signal will help drive investment in the range of technologies required to meet consumers’ future electricity needs.
The Commission held a public forum in Sydney on 4 May on a proposed fundamental change to the national electricity market’s design – changing the settlement period for the wholesale electricity spot price from 30 minutes to five minutes.
A recording of the webcast is now available on our website, as well as a transcript.