The Australian Energy Market Operator (AEMO) has launched its Corporate Plan for 2020-23 setting out its opportunities, challenges and risks in the volatile and fast-changing energy industry.
In a statement, the AEMO said that having recently reached its first decade as the independent market and system operator, it was committed to another decade of producing solutions to support Australian household and business consumers.
“The energy industry in Australia is undergoing unprecedented, rapid and transformational change. Indeed, by many metrics, change is occurring faster in Australia than in almost all other developed economies,” AEMO said.
This was happening in a physical and operating environment that posed greater technical and design challenges.
“Our experience over the last several years demonstrates that the challenges — and opportunities — in our industry are only increasing in scale,” it said.
“The forces of innovation that are changing the way energy is produced, delivered and consumed are also offering new ways to meet the essential requirements of affordable, secure and reliable energy that addresses community and environmental objectives.”
AEMO said Australia was leading the world in many ways in the speed of adoption of variable renewable energy, distributed energy resources, and storage as core elements of the energy economy.
“AEMO is supporting Australian household and business consumers in the choices they are making so they get the benefits of the energy industry transformation, today and into the future,” it said.
It said that while it had always developed annual action, budget and risk management plans “this Corporate Plan is the first time we have presented a unified three-year strategic plan”.
AEMO’s 34-page Corporate Plan can be accessed at this PS News link.
