Strategic directions for market development

Strategic directions for market development

The Authority has finalised and published its strategic directions for market development. The strategic directions reflect the Authority’s view of the key challenges and characteristics likely to influence the electricity sector in the next 10 years. The Authority’s focus or strategic directions for market development are to promote competition in, reliable supply by, and the efficient operation of the electricity industry for the long-term benefit of consumers by:

reducing barriers to entry, expansion and exit of parties in electricity markets
facilitating consumer participation
providing efficient price signals
promoting flexibility and resilience into the market and market systems.

Strategic directions for market development

The Authority has also published a summary of submissions on the draft strategic directions for market development (published for consultation on 12 March 2013) and the Authority’s decisions and reasons in response to submissions.

Summary of submissions & decisions and reasons paper

Part 10 Code amendments

Parts 1, 10, 11 and 15 of the Code have been amended by the Electricity Industry Participation (Metering Arrangements) Code Amendment 2011, the Electricity Industry Participation (Additional Registry Fields) Code Amendment 2012, and three further related Code amendments. Although the changes made by these Code amendments do not come into force until 29 August, to assist participants the Authority has published track change versions of these Parts of the Code.

Track change versions of the Code

Please note that these documents are provided as a guide only, they are not the official version of the Code. If there is any discrepancy between the Code amendments and these documents, the Code amendments take priority.
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Guideline for Metering Equipment Provider Audits

The Authority has published the Guideline for Metering Equipment Provider Audits that will apply from 29 August 2013

MEP audit guideline

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Quarterly disconnection statistics

The Authority has released the disconnection statistics for the second quarter of 2013. They are available at:

Disconnection statistics

Removal of the in-band frequency keeping constrained on and off compensation

The current method for selecting the frequency keeper does not always allow the lowest priced provider or providers to be selected. The Authority is seeking feedback on a proposed Code amendment to address this issue. Submissions on the consultation paper are due by 5 pm on 17 September 2013.

Removal of the in-band frequency keeping constrained on and off compensation

Draft determination of causer of under-frequency event on 20 June 2013

The system operator has made a draft determination on the causer of the under-frequency event on 20 June 2013. The draft determination has been published on WITS and submissions on it should be forwarded to the system operator at market.services@transpower.co.nz by 5pm on Thursday, 8 August 2013.
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Retail Advisory Group minutes for 17 July 2013

The minutes for the Retail Advisory Group meeting held on 17 July 2013 have been published.

Minutes

Reminder: Participant registration and information update

The Authority reminds participants that it is their responsibility to register with the Authority as a participant, and ensure the information they provide for registration is up to date.
Failure to register or to update information is an offence under section 31 of the Electricity Industry Act 2010.

Further details regarding who is a participant and registration

Current consultations

Settlement and prudential security review

The Authority is seeking feedback on a proposal to amend the Code to improve the wholesale market settlement and prudential security system. The proposed Code amendments are substantially based on the work of the Wholesale Advisory Group, and take into account feedback received from the Settlement and Prudential Security Technical Group. The proposals in this paper are important for enhancing competition in the retail electricity market.

Settlement and prudential security review

Started: 18/06/2013; Ending: 20/08/2013, 5pm.

Arrangements to manage a retailer default situation

The Authority is seeking feedback on a proposal to amend the Code to establish arrangements for managing a situation where an electricity retailer does not meet its financial obligations or becomes insolvent (a retailer default situation). The Authority is also proposing to introduce guidelines describing the detailed processes and actions that would be taken if there is a retailer default situation.

Arrangements to manage a retailer default situation

Started: 18/06/2013, Ending: 20/08/2013, 5pm.

Improving transparency of consumers’ electricity charges

The Retail Advisory Group is undertaking a review of whether there should be more transparency around consumers’ electricity charges. The purpose of the review is to identify and recommend alternatives that promote competition by ensuring consumers have timely access to sufficient information so they can understand their bills, see what is driving price changes and make choices about their retailer.

Improving transparency of consumers' electricity charges

Started: 9/07/2013, Ending: 20/08/2013, 5pm.

Amendments to the procurement plan

The Authority has published a consultation paper ‘Amendments to the procurement plan’. The majority of the changes proposed by the system operator relate to the multiple frequency keeping provisions in the existing procurement plan.

Amendments to the procurement plan

Starting: 9/07/2013, Ending: 20/08/ 2013, 5pm.

Aligning forecast and final prices

The Wholesale Advisory Group seeks feedback from interested parties on a discussion paper entitled: ‘Aligning forecast and final prices’. At the request of the Electricity Authority, the Wholesale Advisory Group is reviewing the feasibility, benefits and costs of measures to improve the alignment between forecast and final prices as a way of promoting greater competition.

Aligning forecast and final prices

Starting: 9/07/2013, Ending: 23/08/2013, 5pm.

Modified design of dispatchable demand

The Authority is seeking feedback on a proposal to amend the Electricity Participation Code 2010 to implement a modified design of the dispatchable demand regime. The proposed dispatchable demand regime is expected to enhance competition in the spot market as it allows demand-side participants to compete against generators for dispatch and for setting final prices. The regime should also enhance the efficiency of the electricity industry for the long-term benefit of consumers.

Modified design of dispatchable demand

Starting: 23/07/13; Ending: 03/09/13, 5pm.

NZ electricity hedge contracts - 2 August 2013

Information plays an important part in building market confidence and strength.

To assist interested parties in tracking market development, the Authority publishes NZ electricity hedge contracts as a standard section of its weekly Market Brief.
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