2021 Forecast Improvement Plan consultation

22/11/2021
Market National Electricity Market
StageFirst Stage
ConvenorAEMO NEM
Initiated27/10/2021
Accepting submissions?Yes
Submissions close22/12/2021

Process stage

  • Forecasting Reference Group discussion of draft report
    27 October 2021
  • Forecast Accuracy Report and draft Improvement Plan published
    22 November 2021
  • Submissions due on Forecast Improvement Plan
    22 December 2021
  • Final Forecast Improvement Plan published
    4 February 2022

The publication of the 2021 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 2020 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 B of the Forecasting Best Practice Guidelines.

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