Response to AEMC Rule Change of Five Minute Settlement Alternative formats available on request to PIAC - Contact PIAC
PIAC supports the rule change as it considers it will lead to sustained lower costs for all consumers through greater efficiency of the wholesale electricity market and by helping to accelerate the introduction of new technologies. PIAC notes that the reason for the current misalignment of dispatch and financial settlement in the wholesale market was due to technological limitations in metering and data processing in the 1990s. Technology has improved considerably since then and there is no need to maintain this misalignment.