Global Settlement (including GS soft-start)
On 6 December 2018, the AEMC made a final ruling to change the way in which settlement of the NEM is completed for retailers, to ensure all retailers are settled in the same way.
The AEMC’s Global Settlement (GS) ruling, will affect how unaccounted for energy (UFE) costs are distributed across Retailers, moving from a settlement-by-difference to a global settlement framework.
On 1 October, as part of the GS soft-start, AEMO began publishing Unaccounted For Energy (UFE) data to assist industry to prepare for the introduction to global settlements on 1 May 2022.
AEMO will continue to work with industry to update market procedures, systems and facilitate the transition to the new global settlement arrangements. Refer to the factsheet for further details.