1) is calculated individually for all ~110,000 dispatch intervals each year
2) represents the simple sum of dispatch targets for all supply-side units that are fully dispatchable in the NEM:
(a) Hence it includes the older thermal technology (coal, gas and liquid-fired), hydro and also batteries and negawatts.
(b) The one criteria is that the units must be fully dispatchable … so this does not take account of Targets for Semi-Scheduled units (which don’t have to follow targets) and Non-Scheduled units (which don’t even get given targets).
More to be added…