The Australian Energy Regulator (AER) has released a compliance bulletin outlining our expectations regarding compliance with demand forecasting obligations under the National Gas Rules.
Demand forecasts are used by the Australian Energy Market Operator to determine the traded prices of gas on a daily basis in both the Short Term Trading Markets and Declared Wholesale Gas Market. Accurate demand forecasting helps pricing outcomes and facilitates effective competition, allowing the gas market to operate more efficiently.
Participants should ensure they have robust systems and processes in place to support compliance with the accurate and timely submission of demand forecasts at all times.