Five Minute Settlements
In November 2017, the AEMC made a final ruling to change the settlement period for the electricity spot price from 30-minutes to five-minutes.
AEMO, through its 5MS Program and in consultation with industry, was tasked with implementing the system and procedural changes required to perform five-minute settlement, as well as managing and monitoring industry readiness.
On 1 October 2021, the AEMC’s rule came into effect and the NEM commenced operating in five-minute mode. To learn more about 5MS, refer to the 5MS Factsheet.