Building on our previous Chart of the week in October, where we reviewed the first couple of weeks of 5-minute settlement, we wanted to revisit this topic. Now two months in, we take another look and see how well the fastest responding assets in the NEM are capturing the best prices in the 5-minute market.
The expectation across the market is that battery storage and fast ramping gas assets are best placed to take advantage of the new 5-minute settlement rules. This is premised on their ability to respond quickly to fluctuations in prices and capture large price spikes without being subjected to the averaging that occurred under 30-minute settlement.
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