2023 Forecast Improvement Plan consultation

Market National Electricity Market
StageFinal Report
ConvenorAEMO NEM
Accepting submissions?No

Process stage

  • Forecasting Reference Group discussion of draft report:
    29 November 2023
  • Forecast Accuracy Report and Forecast Improvement Plan published:
    5 January 2024
  • Submissions due on Forecast Improvement Plan:
    5 February 2024
  • Publication of final report
    27 May 2024

Matter under 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 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 2022 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, which was the subject of this consultation and forms the Forecast Improvement Plan.

The final report of the 2023 Forecast Improvement Plan is found below. The draft version of the 2023 Forecast Improvement Plan can be found in Chapter 8 of the 2023 FAR below.

AEMO uses the consultation process outlined in Appendix B of the Forecasting Best Practice Guidelines.

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