12Energy security target monitor to set and monitor targets

12 Energy security target monitor to set and monitor targets

12 Energy security target monitor to set and monitor targets

(1) The energy security target monitor is to calculate an energy security target for each of the following 10 financial years using the following formula—

where—

maximum demand is the forecast peak demand for megawatts of electricity used by NSW electricity customers, based on a 10% probability of exceedance (POE) forecast methodology.

Note.

A 10% POE forecast is expected to be exceeded, on average, 1 year in 10 years.

reserve margin is the sum of the amount of megawatts of electricity capable of being produced by the 2 generating units in the State that are capable of producing the largest amounts of megawatts of electricity according to AEMO for the financial year or a different amount prescribed by the regulations.

(2) The energy security target monitor is to assess and monitor whether or not the firm capacity will meet the energy security target for a financial year.

(3) The regulations may prescribe—

(a) the factors to be considered in calculating the maximum demand, and

(b) the method for calculating the maximum demand.

(4) In this section—

generating unit has the same meaning as in the National Electricity Rules.