If, by the release of the final 2024 ISP, the NER have not been amended to require AEMO to consider the additional policies in the Emissions Targets Statement, and the additional policies do not meet the NER requirements but are still advanced and/or continuing to progress, AEMO will exclude the additional policies from the ISP scenarios. [...] The results for the economy-wide emissions budget for the Progressive Change scenario is chosen as the basis for the cumulative budget from 2025 to 2030 as it closely aligns with the intent of the Act, and the NEM share was derived using the latest data from the Quarterly Update of Australia's National Greenhouse Gas Inventory, March Quarter 2022 update19. [...] While this approach may be appropriate, we expect AEMO to provide further explanation in the draft 2024 ISP to make explicit the reasons for this assumption.” AEMO’s response The 2023 IASR outlined the Rewiring the Nation program, and stated that AEMO will not incorporate the impact of concessional finance in the draft or final 2024 ISP. [...] The statement made in the 2023 Transmission Expansion Options Report that the unknown risk allowance is ‘up to 30%’ of the total network element cost being considered in the cost estimate was derived by aggregating the data from all published cost estimates for the 2023 Transmission Expansion Options Report and observing that the unknown risk allowance never exceeds 30% of the total network elemen. [...] The purpose of the sensitivity is to demonstrate the resilience of the investment mix to extended low renewable conditions, as is appropriate for sensitivity analysis, and the choice of the duration of the extension to eight days has not been scientifically formulated.
- Pages
- 32
- Published in
- Australia
