Process stage
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Forecasting Reference Group discussion of draft report26 October 2022
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Forecast Accuracy Report and Forecast Improvement Plan published16 December 2022
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Submissions due on Forecast Improvement Plan27 January 2023
The publication of the 2022 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 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 2021 Electricity Statement of Opportunities (ESOO) for each region in the National Electricity Market (NEM). The Update to the 2021 ESOO published in April 2022 will be discussed where comparisons are relevant.
Based on these observations, AEMO proposes a number of forecast improvements, which is the subject of this consultation.
AEMO uses the consultation process outlined in Appendix B of the Forecasting Best Practice Guidelines.