at our alternative estimate, we have had to weight the various techniques used in our assessment. Second, having established our alternative estimate of the total forecast capex, we can test the distributor's proposed total forecast capex. This includes comparing our alternative estimate total with the distributor's proposal total. If there is a difference between the two, we may need to exercise our judgement as to what is a reasonable margin of difference. If we are satisfied that the distributor's proposal reasonably reflects the capex criteria, we accept it. If we are not satisfied, the NER require us to put in place a substitute estimate which we are satisfied reasonably reflects the capex criteria. Where we have done this, our substitute estimate is based on our alternative estimate. The capex criteria are: the efficient of achieving the capital expenditure objectives the that a prudent operator would require to achieve the capital expenditure objectives a realistic expectation of the demand forecast and cost inputs required to achieve the capital expenditure objectives. The AEMC that '[t]hese criteria broadly reflect the NEO [National Electricity Objective]'. The capital expenditure objectives (capex objectives) referred to in the capex criteria, are to: meet or manage the expected demand for standard control services over the period comply with all regulatory obligations or requirements associated with the provision of standard control services to the extent that there are no such obligations or requirements, maintain service quality, reliability and security of supply of standard control services and maintain the reliability and security of the distribution system maintain the safety of the distribution system through the supply of standard control services. Importantly, our assessment is about the total forecast capex and not about particular categories or projects in the capex forecast. The AEMC has described our role in these terms: It should be here that what the AER approves in this context is expenditure allowances, not projects. In deciding whether we are satisfied that Energex's proposed total forecast capex reasonably reflects the capex criteria, we have regard to the capex factors. The capex factors are: the AER's most recent annual benchmarking report and benchmark capex that would be incurred by an efficient distributor over the relevant regulatory control period
at our alternative estimate, we have had to weight the various techniques used in our assessment. Second, having established our alternative estimate of the total forecast capex, we can test the distributor's proposed total forecast capex. This includes comparing our alternative estimate total with the distributor's proposal total. If there is a difference between the two, we may need to exercise our judgement as to what is a reasonable margin of difference. If we are satisfied that the distributor's proposal reasonably reflects the capex criteria, we accept it. If we are not satisfied, the NER require us to put in place a substitute estimate which we are satisfied reasonably reflects the capex criteria. Where we have done this, our substitute estimate is based on our alternative estimate. The capex criteria are: the efficient of achieving the capital expenditure objectives the that a prudent operator would require to achieve the capital expenditure objectives a realistic expectation of the demand forecast and cost inputs required to achieve the capital expenditure objectives. The AEMC that '[t]hese criteria broadly reflect the NEO [National Electricity Objective]'. The capital expenditure objectives (capex objectives) referred to in the capex criteria, are to: meet or manage the expected demand for standard control services over the period comply with all regulatory obligations or requirements associated with the provision of standard control services to the extent that there are no such obligations or requirements, maintain service quality, reliability and security of supply of standard control services and maintain the reliability and security of the distribution system maintain the safety of the distribution system through the supply of standard control services. Importantly, our assessment is about the total forecast capex and not about particular categories or projects in the capex forecast. The AEMC has described our role in these terms: It should be here that what the AER approves in this context is expenditure allowances, not projects. In deciding whether we are satisfied that Energex's proposed total forecast capex reasonably reflects the capex criteria, we have regard to the capex factors. The capex factors are: the AER's most recent annual benchmarking report and benchmark capex that would be incurred by an efficient distributor over the relevant regulatory control period