AEMO has established the 5MS program to implement the 5MS and GS rules as one integrated program, comprising the following workstreams:
Procedures – to define the required changes to market procedures
AEMO has completed the necessary procedural changes that are required to give effect to the Five-Minute Settlement (5MS) and Global Settlement (GS) rule changes.
Through the procedures working group, AEMO identified approximately 70 procedures, policies and guides that are affected by the 5MS Rule across four functional areas.
These procedures were grouped into packages for consultation and each package contained the:
- Updated procedure effective at the time of consultation,
- High-Level Impacts Assessments (HLIA), and
- Consultation history.
To access the latest (live) versions of AEMO’s procedural documents, please refer to the Retail and metering page.
Systems – to design, develop, test, and implement changes to AEMO’s market systems
AEMO’s Systems workstream is responsible for the design, development, testing and implementation of systems to support the changes to rules and procedures as a result of the Five-Minute Settlement (5MS) and Global Settlement (GS) initiatives.
The workstream will produce the required technical documentation to facilitate participant changes to systems.
Refer to the System and Procedure Documents page for the work packages that have been developed to facilitate systems changes and consultation.
Readiness – to coordinate, assist and prepare AEMO and the industry for the transition
AEMO's Readiness Workstream is responsible for activities in preparation for commencement and transition to Five-Minute Settlement (5MS) and Global Settlement (GS). These activities include:
- Market readiness strategy and planning
- Transition and cutover execution and planning
- Industry testing and market trials
- Risk and contingency management
- Readiness reporting
- Metering service provider accreditation updates
In addition to the Readiness workstream, AEMO has established a Readiness Working Group (RWG) to coordinate 5MS and GS readiness activities across the industry.