• could be designed so as to provide sufficiently accurate price signals to promote efficient operation of, and investment in, the electricity industry
• would complement the signals provided by nodal pricing in the wholesale market
• would be practicable within a regulatory environment.

• Transmission Pricing Methodology: Long Run Marginal Cost (LRMC) Charges working paper

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Following receipt of comments on an information paper on the South Island cutover date, the Authority has decided to proceed with the introduction of multiple frequency keeping on the planned date of 4 August 2014.

• Decision paper

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On 2 July the Authority agreed and launched a relationship charter with Transpower in its role as the system operator. The charter sets a joint objective to deliver long term benefits to New Zealand consumers in the course of operating and developing the broader electricity market. 

This objective will be achieved by:

• promoting competition, for example by removing technical barriers to entry and participation in the wholesale market
• ensuring reliable supply, for example by efficiently balancing risk and the costs of risk reduction and by taking advantage of new technologies as they become commercial
• promoting efficient operation of the New Zealand electricity industry, for example by delivering an efficient and effective system operator service and by developing and implementing improvements in the market.

This is the first relationship charter between the Authority and the system operator, and is an important step towards an aligned and future-focused relationship that helps achieve the Authority’s statutory objective in the Electricity Industry Act 2010. 

• Relationship charter 

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The Authority and the Commerce Commission (Commission) have reviewed the Memorandum of Understanding (MoU) between the two agencies. The MoU helps clarify the border issues between the Commission and the Authority to remove potential confusion for stakeholders. As the border issues remain the same and the MoU remains fit for purpose, the Authority and Commission agreed the MoU should continue unchanged.

• MoU 

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Proposed Code amendment - saves and early win-backs

The Authority is consulting on the effect on competition of saves and early win-backs.

• Proposed Code amendment - saves and early win-backs

Started: 24/06/2014; Ending: 05/08/2014 5pm

Improving transparency of consumers’ electricity charges

The Authority is consulting on improving transparency of consumers’ electricity charges.

• Improving transparency of consumers’ electricity charges

Started: 24/06/2014; Ending: 26/09/2014 5pm
 

Access to consumption data

The Authority is consulting on access to consumption data.

• Access to consumption data

Started: 15/07/2014; Ending: 26/08/2014 5pm

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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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