Demand Response How the Spot Market Works
Lesson 1, Topic 1
In Progress

How the Spot Market Works

Abdulaziz July 19, 2020
  • Generators submit offers ($/MWh) every 5 minutes
  • AEMO orders offers from least to most expensive & determines which generators are dispatched
  • AEMO dispatches electricity every 5 minutes
  • Electricity is supplied by the lowest cost mix of generators
  • For ‘settlement’, the $/MWh accepted is then averaged over 30 minutes
  • the spot price for a 30 minute trading interval is the average of the six dispatch interval prices
  • All generators dispatched in that trading interval receive the spot price

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