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10 June 2020

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

Transmission Pricing Methodology decision
Compliance investigations commenced and open for participants to join
Meeting papers from MDAG meeting 19 (held 21 April 2020)
Market insight - what caused the high spot prices in May?
Current consultations

Transmission Pricing Methodology decision

The Electricity Authority has released its decision on the transmission pricing methodology (TPM) review and published new TPM guidelines.

The Authority considers the new guidelines will deliver significant benefits to consumers and support New Zealand’s transition to a low carbon economy.

Thank you to everyone who provided feedback - the new TPM guidelines reflect the Authority’s consideration of the many submissions received and heard since our July 2019 proposal and the supplementary consultation earlier this year.

You can read the decision paper, guidelines and additional information on our website.

Compliance investigations commenced and open for participants to join

The Authority has commenced an investigation into an alleged breach of the Electricity Industry Participation Code 2010 by Genesis Energy Limited.

Genesis reported that it failed to comply with a dispatch instruction issued to Unit 6 at its Huntly power station.

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 19 June 2020. The investigator’s contact details are in the notices of investigation on our website.

Read notice of investigation.

Meeting papers from MDAG meeting 19 (held 21 April 2020)

We have published the agenda, workplan update and actions list from the Market Development Advisory Group (MDAG) meeting held on 21 April 2020.

We have also published the presentation by Nevill Gluyas to the MDAG. Please see our website to view these meeting papers and the presentation.

Market insight - what caused the high spot prices in May?

The Authority monitors spot prices and forecast prices in real time. Over the past few weeks, we have seen very high wholesale spot prices after a long period of low prices.

Read more in our latest market insight.

Current consultations

Hedge Market Enhancements market making consultation paper

Ending: 16/06/2020 5pm

Feedback on a proposed addendum applying to the "Guideline on arrangements to assist vulnerable consumers" and the "Guideline on arrangements to assist medically dependent consumers."