Energy Consumers Australia has provided comments on the Australian Energy Regulator’s (AER) ‘Draft Interim Forecasting Best Practice Guideline: Retailer Reliability Obligation’.
The Guideline is part of the process for implementing the Retailer Reliability Obligation (RRO). While this is an important market-based reform, all of AEMO’s forecasts have significant financial implications for consumers. We think that the guideline should be prepared to not only meet the requirements of the RRO rules (which requires that the AER make the Guideline) but as a tool that could be applied more widely. We make specific recommendations on how the guideline should promote transparency, consultation and forecasting quality.
The full submission can be read here.