The Australian Energy Market Operator (AEMO) today released the 2014 National Electricity Forecasting Report (NEFR) Action Plan. The plan outlines actions to address all of the main findings and recommendations from the independent peer review by Frontier (Australia) of the 2013 NEFR, as well as additional improvements identified by AEMO's internal review.
Frontier’s independent review focused on the methodological issues involved in the selection, development and implementation of the econometric and statistical models for forecasting energy consumption and maximum demand. Frontier recommended specific improvements to assist AEMO’s ongoing commitment to enhancing its forecasting methodology and transparency.
Frontier (Australia) regularly advises public and private clients on forecasting methodologies requiring advanced econometric and statistical techniques.
For more information, please contact Marita O’Keeffe at firstname.lastname@example.org or call on +61 (0)3 9620 4488.