Process stage
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Forecasting Reference Group discussion of draft report:29 November 2023
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Forecast Accuracy Report and Forecast Improvement Plan published:5 January 2024
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Submissions due on Forecast Improvement Plan:5 February 2024
Matter under consultation
The publication of the 2023 Forecast Accuracy Report (FAR) marks the commencement of AEMO’s Forecast Improvement Plan consultation. The 2023 Forecast Improvement Plan can be found in Chapter 8 of the 2023 FAR below.
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 is the subject of this consultation.
AEMO uses the consultation process outlined in Appendix B of the Forecasting Best Practice Guidelines.
Submissions on the Draft 2023 Forecast Improvement Plan are due to forecasting.planning@aemo.com.au by 5 February 2024. Please note that submissions will be published, other than confidential material, as per AEMO’s Consultation submission guidelines.