The second quarter of this year has witnessed a series of high price events in Queensland. These price spikes have been profoundly influenced by the dynamics associated with 5-minute dispatch, 30-minute settlement (hereafter ‘5/30’). By way of background, in the NEM dispatch occurs every 5-minutes yielding a dispatch price. However, settlement is based on half-hourly outcomes, with the price determined as the average of the six dispatch prices for each trading interval. These arrangements will end later this year when the ‘5-minute settlement’ rule comes into effect.