The Australian Energy Market Operator (AEMO) has published its 2022 Electricity Statement of Opportunities (ESOO) report. The report forecasts electricity reliability concerns that require an urgent response in most regions of the National Electricity Market (NEM) in the next 10 years.
The ESOO models the latest market data to identify combinations of circumstances when electricity supply won’t be sufficient to meet demand. This modelling helps inform the planning and decision-making of market participants, investors and governments.
AEMO CEO Daniel Westerman said, ‘The report reiterates the urgent need to progress generation, storage and transmission developments to maintain a secure, reliable and affordable supply of electricity to homes and businesses.’
AEMO will continue to work with governments, market bodies, industry and community to manage risks and potential solutions as the power system transitions from coal to firmed renewables, supported by efficient investment in the transmission system.
Structural reforms to the NEM and amendments to the National Electricity Objective agreed by Energy Ministers will assist in improving the investment environment for the transformation of the NEM.
Tomorrow 1 September 2022 AEMO will host a webinar on the 2022 ESOO report from 11am – 12:30pm AEST.