AER - Draft forecasting best practice guidelines - 15 May 2020

On 15 May 2020, we published draft guidelines to make the ISP actionable, along with an explanatory statement and fact sheet. The draft guidelines include:

• a new 'cost benefit analysis guideline', which will apply to the Australian Energy Market Operator (AEMO) and regulatory investment test for transmission (RIT-T) proponents
• a new 'forecasting best practice guideline', which will replace the current interim forecasting best practice guideline and will apply to AEMO
• updates to the existing RIT-T instrument and application guidelines, which apply to RIT-T proponents

To assist stakeholders in viewing the changes we are proposing to the RIT-T application guidelines for non-ISP projects, we have also published a marked-up version of the draft against the current RIT-T application guidelines. Marked up versions of the forecasting best practice guidelines and RIT-T instrument are also available on request.