Updated guidelines on wholesale market information disclosure obligations
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Thank you to those who took the time to submit on the Authority’s recent consultation, wholesale market information disclosure – review of thermal fuels. We have been reviewing submissions and are currently planning next steps. A draft decision paper will be presented to the Authority Board in December 2020.
The Authority’s proposal to update the guidelines was well received. We will hold a short consultation with stakeholders on the proposed wording to update the guidelines. The consultation will run from Tuesday, 20 October until Monday, 2 November 2020. Further details about the upcoming consultation will be released shortly.
A focus group with selected participants will be held on Thursday, 8 October 2020, to help inform the proposed wording update on the guidelines.
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Discover information disclosed about thermal fuels on EMI
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The wholesale market information disclosure review is a project within the Authority’s wider wholesale programme which aims to ensure parties have sufficient information to remain confident in wholesale market competition, and the efficiency of the prices and forward curve it produces.
As part of the wholesale market information disclosure review, participants told us it was hard to access some of the information that is currently disclosed about thermal fuels.
We have published a list of websites containing information that is disclosed about thermal fuels. The list is not exhaustive, but it will assist participants in finding information that might be useful to better understand the thermal fuels market.
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Regulatory change affecting traders of electricity contracts on the ASX
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The Authority is gathering better quality data on risk management contracts as part of its ongoing work to make improvements to the wholesale electricity market.
In October, a Code change will come into effect requiring participants trading electricity contracts on the ASX to give permission for their de-anonymised trading data to be shared by the ASX with the Authority.
Many participants have already agreed to this arrangement on a time limited basis. The Code change will make this an ongoing requirement from Thursday, 29 October 2020.
If you trade electricity contracts on the ASX you need to:
- Sign a consent form to share your data with the Authority, and return it to the ASX and the Authority.
- Ensure you have appropriate arrangements in place with your broker and other market intermediaries including providing your account identifier to the ASX.
The consent form is available on the Authority’s website and should be returned by Tuesday, 20 October 2020. At this stage this Code change does not remove participants’ obligations to report trades onto the Hedge Disclosure Website (Subpart 5 of Part 13 of the Code).
Please contact HME.feedback@ea.govt.nz if you have any questions.
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2019/20 Electricity Authority Annual Report
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The Annual Report covers the Authority's key achievements and provides detailed reports on our financial and non-financial performance.
The report will be tabled in Parliament post-election and has been published in accordance with the Crown Entities Act 2004.
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Authority website - important announcements
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Authority website maintenance - 9am to 12pm, Thursday, 15 October 2020
The Authority website will be unavailable from 9am to 12pm on Thursday, 15 October 2020. This planned outage is for necessary routine maintenance to the website.
We appreciate your patience and we apologise for any inconvenience this may cause.
Changes to the way the Code is displayed
We’ve taken the opportunity to make some small changes to the website including the way we publish the Code.
From Friday, 16 October 2020, the Code will be published as downloadable searchable PDFs with a brief summary for each section. Users can search and download a specific section of the Code or download the Code as one document.
This simplifies the Code section and responds to how people like to view and download both individual parts and the full Code.
If you have any questions about the upcoming planned outage or feedback about the changes to the new Code format, please email: communications@ea.govt.nz
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Reminder: Workshop on guidelines for raising consumer awareness of Utilities Disputes and Powerswitch
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The Authority has produced guidelines to assist retailers and distributors to understand and implement the Code change which requires them to raise consumer awareness of Utilities Disputes and Powerswitch in certain situations.
On Thursday, 15 October 2020 we will be holding a workshop, via Zoom, to answer questions about the Code change and to discuss how we can help retailers and distributors to comply with the Code requirements.
If you would like to register for the Zoom workshop, please email: AwarenessOfUDandPS@ea.govt.nz
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Guidelines for raising consumer awareness of Utilities Disputes and Powerswitch services
Ending: 10/11/2020 5pm
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Level 7, Harbour Tower, 2 Hunter Street, PO Box 10041, Wellington 6143, New Zealand
Tel: + 64 4 460 8860 Email: communications@ea.govt.nz
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