The Australian Energy Market Operator (AEMO) performs a range of gas and electricity market, operational, development, and planning functions. It manages the National Electricity Market, the Wholesale Electricity Market, and the Victorian gas transmission network.
In 2021, AEMO rolled out the Five-Minute Settlement (5MS) program in Australia. A first-of-its-kind project, 5MS shifted the existing 30-minute wholesale electricity spot market settlement period to five minutes, providing a better price signal for investment in faster response technologies, such as batteries and gas peaking generators. It also enables more efficient bidding, operational decisions, and investments, aligned to dispatch and financial settlement periods.
AEMO joined hands with Tata Consultancy Services (TCS) as its strategic implementation partner to define the solution, engagement, and approach plan. Along with its core governance structure, TCS helped AEMO define and implement a similar structure based on a metering workstream that contributed to the largest component of changes and transformation.