AEMO welcomes closer engagement with LNG industry
June 13, 2017 - 5:30 PM
The Australian Energy Market Operator (AEMO) has today met with a number of Liquefied Natural Gas (LNG) producers to share insights into its gas demand and supply forecasting methodology, and to gain a wider breadth of information and understanding from producers to inject into future modelling scenarios.
“Gas and electricity markets can no longer be viewed in isolation, as the overall convergence of energy markets in eastern and south-eastern Australia demands a single energy view from a national perspective,” said AEMO Chief Executive Officer Ms Audrey Zibelman.
“Forecasting energy supply and demand increasingly requires all facets of the energy system to be modelled, including data from beyond both the wholesale and retail market meters – data AEMO has historically had very low visibility on,” said Ms Zibelman.
As the independent energy markets and power systems operator in Australia, AEMO supports recommendations within the recently released Independent Review into the Future Security of the National Electricity Market, led by Chief Scientist Dr Alan Finkel, outlining methods for greater transparency within the gas industry, specifically relating to fuel availability for the domestic market.
It is also imperative AEMO continues to focus on gaining data from behind retail meters to improve its understanding of consumer patterns, reflecting evolving demand trends within its forecasting models.
AEMO’s latest assessment of the immediate electricity and gas supply outlook for Australia will be released later this week, and it looks forward to continuing its engagement with industry and policy makers to enable an efficient and secure Australian energy market for future generations.
To view a PDF version of this statement, please click here.