This exposure draft sets out proposed changes to the Wholesale Electricity Market (WEM) Rules to implement five-minute settlement in the WEM.
The amendments continue the implementation of the WA Government’s Energy Transformation Strategy, and reflect decisions made by the Energy Transformation Taskforce and presented in the following information papers:
- Information Paper: Foundation Settings for Market Settlement; and
- Information Paper: Market settlement: Implementation of five-minute settlement, uplift payments and Essential System Services settlement
The draft Amending Rules include:
- changes to require Meters Data Submissions to be provided at the five-minute level;
- a requirement for AEMO to determine Metered Schedules for each Dispatch Interval and each Trading Interval;
- changes to calculate Energy Trading Amounts by Dispatch Interval;
- removal of the Reference Trading Price concept;
- changes to calculate Energy Uplift Payments using Dispatch Interval Metered Schedules;
- changes to calculate Essential System Service amounts at the Dispatch Interval Level; and
- new transitional rules.
The amendments are proposed to commence at the start of the first Trading Week on or after 1 October 2025.
A copy of the exposure draft of the Five-Minute Settlement WEM Amending Rules is available below.
The window for submitting feedback closed at 5:00pm on 7 August 2023.
