The Authority's target of 1,000 GWh (Gigawatt hours) unmatched open interest (UOI) by 1 December 2011, was met in trading on the New Zealand Electricity Hedge Market on Friday 25 November.

The Government set a target (outside of the Electricity Industry Act 2010) for UOI of 3,000 GWh by 1 June 2010. This was effectively achieved by SOE generators indexing their virtual-asset-swap (VAS) contracts to the ASX futures prices.

Nevertheless the Authority was concerned to ensure UOI levels were transparent, and to that end on 21 October set targets for UOI traded on the ASX market, the first of which has now been achieved. The next targets for UOI are:
• 2,000 GWh by 1 March 2012; and
• 3,000 GWh by 1 June 2012.

An overview document and information paper on hedge market development is available at:

The Authority has released a joint consultation paper with the Energy Efficiency and Conservation Authority (EECA) on the proposed 2012/13 appropriations.

The paper covers all Authority appropriations and also EECA and Ministry of Consumer Affairs (MCA) activities that are funded by the levy.

In addition to appropriations information, the consultation paper includes information on:
• The Authority's outputs and performance measures for 2012/13;
• The Authority's draft Path to Competition, Reliability and Efficiency (CRE) three-year plan; and
• EECA's levy-funded electricity efficiency priorities for 2012/13.

The appropriation consultation period commences on 29 November and submissions are due by Monday 9 January 2012.

Submissions should be sent individually to the Authority, EECA or MCA, depending on which appropriations and work priorities are being addressed.

The consultation paper is available at: http://www.ea.govt.nz/our-work/consultations/

Information about the planning process is available at: http://www.ea.govt.nz/our-work/2012-15-planning/

The Authority has published its first Annual Report, covering the period since its formation on 1 November 2010 to 30 June 2011.

The report is available at:

A briefing paper on the data access and nomination of the metering equipment provider (MEP) aspects of the Part 10 review has been published as a basis for discussion at the AMI Forum to be held on 30 November 2011 at the Abel Tasman Hotel, Wellington.

The briefing paper and agenda are available at:

Meeting papers for the meeting of the Locational Price Risk Technical Group (LPRTG) held on 23 November are available at:

Submissions on a proposal to revise the terms of reference for the Authority's Advisory Groups so that members' appointment terms can be staggered are available at: