Today the Australian Energy Regulator (AER) released its Draft Interim Forecasting Best Practice Guideline for consultation. The guideline is one of six guidelines that the AER will develop to set out how it will exercise its functions under the Retailer Reliability Obligation (RRO).
The RRO may be triggered if the Australian Electricity Market Operator’s (AEMO) annual forecast identifies a reliability gap in three years’ time. The significant obligations imposed by the RRO means that forecasting best practices and processes are critical.
The AER Draft Interim Forecasting Best Practice Guidelines seeks to support this best practice, particularly in relation to the transparency and quality of the reliability forecasts.
The AER will publish the final Interim Forecasting Best Practice Guidelines on 30 September 2019.
A final version of the Forecasting Best Practice Guidelines will be subsequently developed, using a full consultation process, and will be published on 30 November 2020.
Invitation for Submissions
We invite interested stakeholders to make written submissions in response to any matter covered in this guideline, by the close of business 19 June 2019.
Submissions should be sent electronically to RRO@aer.gov.au with the following title in the email: For Consultation – Draft Interim Forecasting Best Practice Guideline.
Alternatively, submissions can be mailed to:
Mr Peter Adams
General Manager, Market Performance
Australian Energy Regulator
GPO Box 520
Melbourne Vic 3001
We prefer that all submissions be publicly available to facilitate an informed and transparent consultative process. Submissions will be treated as public documents and posted on our website unless prior arrangements are made with us to treat the submission, or portions of it, as confidential. Those wishing to submit confidential information are requested to clearly identify the information that is the subject of the confidentiality claim, and provide a non-confidential versions of the submission.
For further information regarding our use and disclosure of information provided to us, see the ACCC/AER Information Policy.