Settlement Technical Guides
This page provides technical specifications, guides and other documentation related to settlement of the WEM.
WEM Settlement Formulation
The Prudential and Settlement System (PaSS) application is built on the basis of the independently certified WEM Metering, Settlement and Prudential Calculation formulation document.
This document creates a mathematically accurate representation of the WEM Rules, including:
- Representation of Sets for use within the document;
- Mathematical equation representation of the WEM Rules;
- Specification for Variables used by the calculations;
- Trading Margin calculation for Participants on a given day;
- Settlement of the relevant market services;
- Interest calculation for the Adjustment Process; and
- Input estimation methodology for Prudentials.
Current versions
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19/12/2023
WEM Metering Settlement and Prudential Calculations Version 6.0
Effective 13 December 2023
946.01 KB -
19/12/2023
WEM Metering Settlement and Prudential Calculations Version 6.0 - Text
Effective 13 December 2023
325.58 KB -
21/11/2023
WEM Metering Settlement and Prudential Calculations Version 5.2
Effective 1 October 2023
955.55 KB -
21/11/2023
WEM Metering Settlement and Prudential Calculations Version 5.2 - Text
Effective 1 October 2023
332.53 KB -
11/01/2023
WEM Metering Settlement and Prudential Calculations Version 4.2
Effective 1 October 2021
1.05 MB -
11/01/2023
WEM Metering Settlement and Prudential Calculations Version 4.2 - Text
Effective 1 October 2021
406.83 KB
Historic versions
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02/10/2023
WEM Metering Settlement and Prudential Calculations Version 5.1
Effective 1 October 2023
945.7 KB -
02/10/2023
WEM Metering Settlement and Prudential Calculations Version 5.1 - Text
Effective 1 October 2023
329.49 KB -
22/08/2023
WEM Metering Settlement and Prudential Calculations Version 5.0
Effective 1 October 2023
927.21 KB -
22/08/2023
WEM Metering Settlement and Prudential Calculations Version 5.0 - Text
Effective 1 October 2023
316.62 KB -
21/08/2020
WEM Metering Settlement and Prudential Calculations Version 1
Effective 1 September 2019 to 21 February 2020
1.03 MB -
21/08/2020
WEM Metering Settlement and Prudential Calculations Version 2
Effective 22 February 2020
1.03 MB -
26/05/2021
WEM Metering Settlement and Prudential Calculations Version 3
Effective 1 July 2021
1.07 MB -
26/05/2021
WEM Metering Settlement and Prudential Calculations Version 3 - Text
Effective 1 July 2021
416.85 KB -
04/10/2021
WEM Metering Settlement and Prudential Calculations Version 4.1
Effective 1 October 2021 - Changes as a result of Wholesale Electricity Market Amendments – Reserve Capacity Pricing Reforms
1.06 MB -
04/10/2021
WEM Metering Settlement and Prudential Calculations Version 4.1 - Text
Effective 1 October 2021 - Changes as a result of Wholesale Electricity Market Amendments – Reserve Capacity Pricing Reforms
407.37 KB
Other Settlement Formulations
Historic versions
Settlement Statements and Invoices
This WEM Settlement Statement and Invoice Technical Guide provides general information about the formats of the Settlement Statements and Invoices produced by AEMO in accordance with the WEM Rules.