Market insight – wholesale spot prices
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We have released a market insight on wholesale spot prices and how gas market conditions are affecting electricity spot prices.
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Distributors’ Pricing – 2019 Baseline Assessment
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The Authority has published its assessment of distributors’ 2019 pricing methodologies and distributors’ plans to reform pricing. We are publishing the assessment to highlight good practice, identify gaps, and suggest improvement opportunities.
Distributors urgently need to improve the efficiency of their distribution prices because technology is rapidly changing how electricity is produced and consumed. These changes affect how distribution networks are used, and how distribution services should be priced. Cost-reflective pricing is for the long-term benefit of consumers, by ensuring that distributors make efficient investments in their networks and consumers make efficient network use decisions and investments in solar power, batteries, and electric vehicles.
We have found that most distributors have work to do. The assessment identifies steps distributors could take to improve their pricing reform strategies. Some distributors have already made changes to pricing and others have well-defined plans. A number of distributors have made little progress.
This assessment is part of the Authority’s approach to encourage and support distributors to adopt more efficient distribution prices, sooner. The Authority will discuss its assessment with each distributor.
We will conduct another assessment of distribution pricing next year, when we also plan to publish a scorecard for each distributor.
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Post-implementation review of the national market for instantaneous reserves
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We have published our post-implementation review of the national market for instantaneous reserves. The purpose of post-implementation reviews is to evaluate an initiative against its expected outcomes.
The national market replaced two separate markets for reserve, one on each island. The Authority expected the national market would lead to increased efficiency of the reserve market by decreasing the amount of reserve needed to meet security requirements and by procuring reserve from the cheapest source. Changes to the market for instantaneous reserves came into force on 20 October 2016.
This review found the national market for instantaneous reserve was successful in increasing the efficiency of the reserve market without sacrificing security. More reserve was procured from the South Island, where reserve is usually cheaper, and less from the North Island. However, the price of reserve in the North Island did not change significantly as a result of changes to reserve offers.
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Type A industrial co-generating station application
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Nova Energy has submitted an application for the Kapuni Energy Joint Venture co-generation station to be approved as a Type A industrial co-generating station. We are assessing the application in accordance with Schedule 13.4 of the Electricity Industry Participation Code 2010.
Any comments on the application should be sent to marketoperations@ea.govt.nz by 5pm on Tuesday, 17 December 2019. The application is available on our website.
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MDAG operating procedures published
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The Market Development Advisory Group (MDAG) has published its operating procedures. MDAG has developed these operating procedures to ensure shared expectations between MDAG members, and may be amended from time to time. The MDAG welcomes feedback on these operating procedures. Feedback can be sent to MDAG@ea.govt.nz at any time.
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IPAG meeting papers published
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We have published papers from the Innovation and Participation Advisory Group (IPAG) meeting held at the Commerce Commission’s offices on 16 October 2019.
IPAG worked through and developed its approach for finalising its advice to the Authority on access to input services. The IPAG also discussed opportunities for future work.
We have also published the minutes from the IPAG meeting held on 4 September 2019.
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ACCES Quick Wins technical consultation paper – closing today
Ending 19/11/2019 5.00 pm
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Hedge Market Enhancements market making discussion paper
Ending 02/12/2019 5.00 pm
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Integrating hosting capacity into Part 6 of the Code
Ending 03/12/2019 5.00 pm
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Saves and win-backs Code amendment consultation paper 2019
Ending 03/12/2019 5.00 pm
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2020/21 Levy-funded appropriations
Ending 03/12/2019 5.00 pm
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Switch Process Review - Issues with the ICP switching processes and possible options to address these issues
Ending 17/12/2019 5.00 pm
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Level 7, Harbour Tower, 2 Hunter Street, PO Box 10041, Wellington 6143, New Zealand
Tel: + 64 4 460 8860 Email: info@ea.govt.nz
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