Australia’s latest reliability outlook is a reminder that the energy transition is ultimately a delivery challenge. AEMO sees a stronger pipeline of generation and storage, with no near-term reliability gaps identified for 2027–28 or 2029–30. But maintaining that outlook depends on new generation, storage, transmission, and demand-side resources being delivered on time as electricity demand rises and aging coal plants retire. The takeaway: planning capacity is not the same as operating capacity. A reliable grid requires resources that are built, connected, available when needed, and able to sustain supply through periods of system stress. That is the real test of the transition.