Consultation on Forecasting Accuracy Report Methodology

05/01/2024
Market National Electricity Market
StageDiscussion Paper
ConvenorAEMO NEM
Initiated05/01/2024
Accepting submissions?Yes
Submissions close05/02/2024

Timeline

AEMO’s indicative process and timeline for this consultation are outlined below. Future dates may be adjusted and additional steps may be included if necessary, as the consultation progresses. In the event that these dates change, AEMO will clearly identify the timetable on this webpage for this consultation.

  • Notice of first stage consultation and Issues Paper published
    5 January 2024
  • First stage submissions closed
    5 February 2024
  • Draft Determination & Notice of second stage consultation published
    TBA
  • Submissions due on Draft Determination
    TBA
  • Final Determination published
    TBA

Matter under consultation

AEMO develops a number of demand and supply forecasts for both operational purposes (short-term forecasts) and reliability/planning purposes (long-term forecasts) for the National Electricity Market (NEM). The Forecast Accuracy Report Methodology focuses on longer-term electricity demand and supply forecasts and the method used by AEMO to assess the accuracy of these.

AEMO must maintain its Forecast Accuracy Report Methodology in accordance with the Australian Energy Regulator’s (AER’s) Forecasting Best Practice Guidelines (FBPG). Apart from any minor or administrative changes, any revisions must be consulted on consistent with AEMO’s Reliability Forecast Guidelines. The FBPG require AEMO to consult on this methodology at least once every four years.

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