The publication of the 2020 Forecast Accuracy Report (FAR) marks the commencement of AEMO’s Forecast Improvement Plan consultation.
The Forecast Accuracy Report is for the purposes of clause 3.13.3A(h) of the National Electricity Rules and has been prepared consistent with AEMO's Interim Reliability Forecast Guidelines and Forecast Accuracy Reporting Methodology for forecast improvements and accuracy. It reports on the accuracy of demand and supply forecasts in the 2019 Electricity Statement of Opportunities (ESOO) for each region in the National Electricity Market (NEM). Based on these observations, AEMO proposes a number of forecast improvements.
AEMO used the consultation process outlined in Appendix A of the Interim Reliability Forecast Guidelines.
Consultation timeline table
|
Consultation steps |
Indicative dates |
|
Forecasting Reference Group discussion of draft report |
28 October 2020 |
|
Forecast Accuracy Report and Improvement plan published |
2 December 2020 |
|
Submissions due on Improvement plan |
15 January 2021 |
|
Final methodology improvements updated and published in existing methodology documents along with a Submission Response document |
12 February 2021 |