2020 Forecast Improvement Plan consultation

02/12/2020
Market National Electricity Market
StageDraft Report
ConvenorAEMO NEM
Initiated02/12/2020
Accepting submissions?Yes
Submissions close15/01/2021

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.

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

Invitation to make submissions:

AEMO invites written submissions to the matter under consultation, which follows the Single Stage Process set out in Appendix B of the Australian Energy Regulator's Forecasting Best Practice Guidelines

This consultation focuses on the initiatives outlined in the Forecast Improvement Plan only, as found in Section 8 of the 2020 Forecast Accuracy Report. See Section 1 for further information about this consultation.

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