Five Minute Settlement and Global Settlement
AEMO established the 5MS Program to work with industry to implement the AEMC’s rule changes relating to five-minute settlement and global settlement within the National Electricity Market (NEM).
On 1 October 2021, the NEM successfully commenced operating in accordance with the AEMC’s five-minute settlement (5MS) rule, aligning operational dispatch and financial settlement at five-minutes. This change was implemented through AEMO's 5MS Program over a three year period and included a staggered systems implementation, changes to procedures and a coordinated readiness approach.
AEMO also began reporting on unaccounted for energy (UFE) values as part of the global settlement (GS) soft-start. AEMO will continue to work with industry to implement the full GS changes on 1 May 2022, as per the AEMC’s GS rule.