Consultation on Forecasting Accuracy Report Methodology

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.

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.