We have considered submissions on our consultation paper on four components of Transpower's proposed variation to the Transmission Pricing Methodology (TPM). The consultation paper and submissions are available here. We have decided to amend the TPM to implement the n = 100 component and reverse flows component. We have decided to implement a modified version of the Regional Coincident Peak Demand (RCPD) capacity measurement period component. Specifically, the Code will provide for summer trading periods to be excluded from the calculation of RCPD in the lower South Island, lower North Island and upper North Island regions. The RCPD capacity measurement period for the upper South Island will continue to include summer trading periods. We have decided not to implement the RCPD quantity adjustment provision.

After consultation with Transpower, we have decided that the proposed changes will take effect from 1 April 2017, ie, for the calculation of prices for the 2017/18 and subsequent pricing years. As the capacity measurement period for the 2017/18 pricing year begins on 1 September 2015, this means that participants will need to take into account the impact of the change from 1 September 2015.

We expect to release a paper setting out the reasons for our decision shortly. An amendment instrument and Gazette notice will be published after we have considered and made decisions on the HVDC component of Transpower's proposed variation, so that all changes are published in the Gazette together.

We have published submissions on the HVDC component of Transpower’s proposed variation to the TPM.

• Submissions

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We have released a new publication with information and commentary on the performance of the residential electricity market in 2014. The document is available as a fully digital document, which allows readers to customise displays by changing parameters, share links, download images, and access the underlying data. 

The publication covers:

• national electricity switching rates and the estimated potential savings available to consumers in different regions 
• residential electricity use, including consumption levels by region and information about solar installation rates 
• information about the number of retailers available in different regions
• information on residential electricity pricing and market structure changes. 
   
• Publication

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In conjunction with the release of the residential electricity market performance review, we’ve added nine new data reports to www.emi.ea.govt.nz. Two of the reports provide detail on residential consumption volumes. This information is provided for the first-time and highlights significant differences across the regions.

Map reports are now a feature of EMI and provide yet another way to visualise information. As with all reports on EMI, users can customise what is displayed by changing parameters, share links, download images, and access the underlying data.

The new data reports are:

1. Residential consumption (map)
2. Residential consumption (bar chart)
3. Residential savings (map)
4. Residential savings (bar chart)
5. Retailer growth (bar chart)
6. Relative switching (map)
7. Market concentration (map)
8. Electricity connections snapshot (bar chart)
9. Growth in electricity connections (bar chart)

For discussion on the insights drawn from these reports please see the residential electricity market review.

• Publication

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On 13 July 2015 we signed a Memorandum of Understanding (MoU) with the Financial Markets Authority (FMA).
 
Both organisations recognised that stakeholders could be confused as to the respective statutory functions with regard to the electricity industry.  The MoU records a shared commitment to:

• identify common regulatory objectives and roles
• work together to minimise the scope for uncertainties regarding any jurisdictional issues
• record the spirit of cooperation that will operate between the agencies.
   
• MOU

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We have published recordings from the Transmission Pricing Methodology workshops that were held in Wellington, Christchurch and Invercargill. 

• Workshop recordings

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Retail Data: Access to tariff and connection data 

The Authority is consulting on access to retail tariff and connection data.

• Retail data

Started: 23/06/2015; Ending: 4/08/2015 5pm

Transmission Pricing Review: Transmission Pricing Methodology

The Authority is consulting on a Transmission Pricing Methodology options working paper and a companion paper.

• Transmission Pricing Review

Started: 16/06/2015; Ending: 11/08/2015 5 pm

Code Review Programme 2015

The Authority is consulting on a number of discrete amendments to various parts of the Code.

• Code Review Programme

Started: 30/06/2015; Ending: 14/08/2015 5 pm

Bid and offer provisions of the Code: Shortened gate closure and revised bid and offer revision provisions

The Authority is consulting on shortened gate closure and revised bid and offer revision provisions.

• Bid and offer provisions of the Code

Started: 07/07/2015; Ending: 19/08/2015 5 pm

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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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