Rebidding and technical parameters guideline - amendments for 5 minute settlement 2019

Sector: 
Segment: 
Status: 
Date initiated: 
18 September 2019
Date completed: 
1 December 2019
Effective date: 
1 July 2021

Overview

The Rebidding and Technical Parameters Guideline outlines the detail that must be contained in a rebid reason submitted to the Australian Energy Market Operator and our process for requesting additional information to verify the rebid reasons. In addition, it covers several related areas associated with the bidding and rebidding of technical parameters.

Invitation for submissions

On 18 September 2019, the AER published for consultation, the draft decision and draft amendments to our Rebidding and Technical Parameters Guideline. Interested parties are invited to make written submissions on the draft Guideline by 16 October 2019.

Background

On 28 November 2017, the Australian Energy Market Commission (AEMC) released its final rule determination to change the settlement period for the electricity spot price from 30 minutes to five minutes, starting 1 July 2021 (“5 minute settlement Rule change”). As part of this rule change, the AER must amend and publish the guidelines maintained under clause 3.8.22 in respect of rebidding. We must publish the amended Rebidding and Technical Parameters Guideline by 1 December 2019 to take effect from the commencement of 5 minute settlement.