Mojo Power strongly supports the Australian Energy Markets Commission signalling a shift to settling the market at five minute intervals, rather than the existing 30-minutes.
The existing settlement arrangements blunt the signal for fast and flexible players to come in and balance the wholesale market in near real-time. It’s those flexible players that will form the backbone of a smarter, more integrated and resilient grid that can accommodate the transition to decarbonisation that we know we need to achieve.
The big old fossils are going to come out swinging at this decision. They’re going to say the costs are too high and they outweigh the benefits, and they’re going to say that we can’t be sure that flexible capacity will come in to meet the supply/demand equation in five minute intervals.
Dominic Adams is Regulatory Strategy Manager for retailer Mojo Power