This Lessons Learnt Report outlines the key learnings Meridian Energy Australia has learnt during the period of October 2020 – March 2021.
This report outlines lessons that Meridian Energy Australia and the University of Melbourne have recently learnt regarding assessment methodology to estimate the savings the self-forecast has generated compared to utilising the AWEFS forecast for Mt Mercer. It has also identified the two philosophical approaches to forecasting – one which targets a reduced MAE and RMSE whilst another which focuses on correcting grid frequency irrespective of the accuracy of the forecast. We have to date adopted the former approach and expect that overtime as all generators work toward an accurate forecast for their generator that the market and rules will continue to reward this behaviour. We have also identified some new learnings associated with the setup and running of a longer horizon (24 hr) forecast using publicly available BOM data.