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19 May 2020

Welcome to Market Brief, the Electricity Authority’s weekly update on regulatory and market developments.

Authority approves urgent Code amendment
Compliance investigations commenced and open for participants to join
Settlement with Transpower approved
Appointment of Security and Reliability Council members
Reminder: Cross submissions on the MDAG's High Standard of Trading Conduct discussion paper closes on 27 May 2020
COVID-19 update
Current consultations

Authority approves urgent Code amendment

EIPCA: COVID-19 Deferred Payment of Distribution Charges 2020.

The Authority has approved an urgent Electricity Industry Participation Code 2010 (Code) change requiring the six largest distributors to offer deferred debt payment terms to qualifying retailers. The urgent Code will come into effect on Wednesday 20 May and will expire after nine months. The Code has been approved as part the Authority’s response to COVID-19.

The Authority notified the six largest distributors of the intended urgent Code change earlier this month. We have received a lot of correspondence from distributors questioning our decision to amend the Code. We have responded to the distributors and a copy of the letter is on our website.

You can find out more about the reasons for the amendment here. Information for retailers and the application process are also on our website.

Compliance investigations commenced and open for participants to join

The Authority has commenced an investigation into alleged breaches of the Code by Genesis Energy Limited.

Flick Energy Limited alleged that Genesis attempted to winback a customer during the switch protected period. On investigating the breach alleged by Flick, Genesis reported further instances where it similarly breached.

Electric Kiwi Limited also alleged similar breaches by Genesis in addition to those instances reported by Genesis.

Participants who consider they are affected by the matter being investigated may join as a party to the investigation. To join the investigation, participants should notify the investigator no later than 28 May 2020. The investigator’s contact details are in the notices of investigation on our website.

Read notice of investigation.

Settlement with Transpower approved

We have approved a settlement between Transpower New Zealand Limited, as the grid owner and as the system operator, concerning self-reported breaches of the Code by the grid owner.

The breaches concerned the grid owner’s failure to provide the system operator with an updated actual operational status of the Roxburgh special protection scheme from 13 June 2017 to 9 August 2018.

The settlement agreement is available to view on our website.

Appointment of Security and Reliability Council members

We have appointed three members to the Security and Reliability Council (SRC).

Barbara Elliston (Director of Elliston Power Consultants Ltd) has been reappointed for another three-year term.
Nanette Moreau (Ex Commissioner Utilities Disputes) has been appointed for a three-year term.
Gretta Stephens (Chief Executive at BlueScope) has been appointed for a three-year term.

Reminder: Cross submissions on the MDAG's High Standard of Trading Conduct discussion paper closes on 27 May 2020

The consultation period for the Market Development Advisory Group’s High Standard of Trading Conduct discussion paper closed on 4 May 2020 and submissions are now published online.

The cross submission period is now open. Please email your cross submission to MDAG@ea.govt.nz with “High standard of trading conduct provisions – Discussion paper – cross submission” in the subject line.

The purpose of this cross-submissions process is to allow participants to respond to issues raised in submissions. The closing date for cross submissions is 5pm, Wednesday 27 May 2020.

COVID-19 update

We have the latest updates in relation to the Authority's response to COVID-19, including advice for consumers.

Please visit our website for more information.

Current consultations

Cross submissions on MDAG’s High Standard of Trading Conduct discussion paper

Ending: 27/05/2020 5pm

Hedge Market Enhancements Market Making consultation paper

Ending: 16/06/2020 5pm

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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