received results from a survey on the hedge market, run by UMR Research
received an independent study by Energy Link, which the Authority commissioned on the WAG’s behalf.
The WAG has developed this discussion paper with the information gathered. It provides a view of the current state of the hedge market, with a sizable range of possible options for further development provided.
The WAG looks forward to receiving submissions from interested parties to assist them in making recommendations to the Authority Board in the new year.
Submissions close at 5pm on Friday 19 December 2014.
The Authority intends to make a minor Code amendment that will amend Parts 1, 3, 6, 8, 10, 11, 13, 14, 15, & 17 of the Code. The amendments will be made without consultation or a regulatory statement as the Authority is satisfied that the amendments are technical and non-controversial. The proposed amendments are on the Authority’s website at:
Normal frequency asset owner performance obligations: Proposed Code amendment
The Electricity Authority and the system operator plan to hold an industry workshop to discuss the next steps and the submissions on the proposed Code amendment regarding normal frequency asset owner performance obligations.
The workshop will be held on Thursday, 4 December 2014 from 10am to 2pm at the Authority’s offices in Wellington. Please email info@ea.govt.nz by Tuesday 25 November 2014 to indicate if your organisation would like to attend. Include the number of people attending and 'Normal Frequency AOPO Workshop' in the subject line.
Prior to the workshop, the Authority will publish a summary of submissions and an indicative response to submissions. The workshop will provide attendees with an opportunity to discuss submissions and the next steps, plus discuss any relevant matters raised at the system operator’s Reserve and Frequency Management Industry Forum to be held on 24 November 2014.
Publication of future prudential information, including the adder
The clearing manager has published the 2015 adder and the first quarter exit period prices, which will form part of the calculation for the general prudential requirement once the Settlement and Prudential Security Code amendment comes into effect on 24 March 2015.
The clearing manager has also published two more information sheets for participants on the Settlement and Prudential Security project page. One explains how the clearing manager will calculate new prudentials and one explains the changes that participants need to be aware of as the new prudential arrangements come into effect.
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.
