![\"National](\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/08\/5-minute-settlement.jpg\")
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On October 1st, Australia’s National Electricity Market is changing from 30-minute to 5-minute settlement.<\/p>\n
In this article, I’ll explain exactly what Australian households need to do to prepare for this event.\u00a0 This is easy because what’s required is…<\/p>\n
…absolutely nothing.<\/p>\n
While all grid users will benefit from the coming change, there’s nothing households have to do.\u00a0 Unless you’re in the business of selling wholesale electricity, you can chill.<\/p>\n
But if you happen to own a coal power station, you are permitted to sob with impotent rage.\u00a0 This is because, a sweet, long-standing arrangement favouring fossil fuels will disappear.\u00a0 If you find you’re physically incapable of crying, please feel free to crack open one of your finest bottles of orphan tears.<\/p>\n
While consumers won’t need to do anything, benefits from the change will include…<\/p>\n
Update August 5th 2021: <\/strong><\/em> The AEMO (Australian Energy Market Operator) now says 5 minute settlement may be further delayed than it is already.\u00a0 It may not start until early 2022.<\/em><\/p>\n In Australia’s National Electricity Market — or NEM<\/a> to its friends — the dispatch of electricity by larger generators is based on 5-minute periods<\/a>.\u00a0 This is a convenient length of time because, barring disaster, electricity demand doesn’t change fast enough to cause problems over the time it takes Yoda to sing about his stick.<\/p>\nWhat’s A Settlement Period?<\/h2>\n