MDAG's recommendations paper on the review of the trading conduct provisions published
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The Market Development Advisory Group’s (MDAG) recommendations paper on the Review of the Trading Conduct Provisions is now available. The Authority has accepted MDAG’s recommendations. We will consult on the proposed new trading conduct rule in early 2021.
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Advance notice of a services contract opportunity for commercial market making
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The Authority has a services contract opportunity for commercial market makers.
In January we will release a Request for Information (RFI) which will help inform key decisions regarding the establishment of a commercial market making scheme for New Zealand Electricity futures contracts.
The purpose of the RFI is to:
- outline the design of the commercial scheme; and
- seek feedback on assumptions and aspects requiring further development.
It is important that market making services support a robust forward price curve and enable efficient risk management for the long-term benefit of consumers.
The Authority wants to hear from potential commercial scheme service providers - parties interested in providing commercial market making services under the commercial scheme. Respondents’ feedback will be considered as we set up a commercial scheme that efficiently meets the needs of New Zealand electricity consumers.
We are asking interested parties to register their details with us to be notified when the RFI is released in January. Please email your contact details to commercialmarketmaking@ea.govt.nz
The Advance Notice will also be published on GETS.govt.nz, the New Zealand Government’s procurement portal.
For more information on the stages of the procurement process and what the new market making scheme could look please see our website.
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Operational review of metering and related registry processes decision paper
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We are amending the Electricity Industry Participation Code 2010 (Code) to make several improvements. The amendments will come into force on 1 February 2021.
These improvements stem from the Operational Review of Metering and Related Registry Processes we consulted on in the last quarter of 2018, and affect Parts 1, 10, 11, and 15.
The decision paper, summary of submissions and our response are available on our website.
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Call for nominations for the Security and Reliability Council
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We are calling for nominations for an independent chair and four members of the Security and Reliability Council (SRC). The SRC provides us with independent advice on reliability of supply issues, and on the performance of the electricity system and the system operator. The SRC comprises senior members of the New Zealand electricity industry, including consumers.
We are particularly interested in nominations from people who have experience in governance or management roles responsible for:
- electricity generation, particularly hydro, wind or thermal
- natural gas industry
- electricity distribution
- power system operations and performance.
We intend to appoint the successful nominees in March 2020 for an expected term of three years.
Nominations close on 22nd January 2021. Please see our website for more information.
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Work programme report for the four-month period to 31 October 2020
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We have published our work programme report for the period covering 1 July to 31 October 2020. This is a progress report against the work programme we published in October 2020. The 2020/21 work programme and the four-month report are available on our website.
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New exemptions granted and gazetted
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The Authority has granted and gazetted new exemptions for:
- Meridian Energy Limited (No. 287) from complying with the obligation in clause 10.24(c) of the Code not to use subtraction to determine submission information for ICP 0000840407WE388
- Vector Metering Limited (No. 296) from complying with the obligation in clause 4(2)(a) of Schedule 10.7 of the Code not to use subtraction to determine submission information for ICP 0000840407WE388
- AccuCal Limited (No. 292) from complying with the obligation in clause 10.24(c) of the Code not to use subtraction to determine submission information for ICP 0003133903AA777
- Contact Energy Limited (No. 293) from complying with the obligation in clause 4(2)(a) of Schedule 10.7 of the Code not to use subtraction to determine submission information for ICP 0003133903AA777.
The Gazette notices, including reasons for the approval, are available on the Authority's website. The exemptions came into force on 10 December 2020.
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Reminder: Beginner registry user training 2021 - expressions of interest sought
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The Authority is running two-day, hands on, training courses for registry users in Auckland (17/18 February 2021), Christchurch (25/26 February 2021) and Wellington (10/11 March 2021).
The course is suitable for new registry users and participants who want to gain knowledge of how the registry and associated processes work.
Registration is essential. To express an interest in attending please email your name, contact details and preferred location to conference@ea.govt.nz by COB Tuesday 24 December 2020 with ‘registry training’ in the subject line. Please do not book flights and accommodation until you have received confirmation of location, dates and registration.
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IPAG and MDAG Annual Reports now published
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Happy holidays and office hours
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Our office will close on Thursday, 24 December 2020 to Tuesday, 5 January 2021.
Thanks to everyone who has worked with us in 2020. It has been a remarkable and challenging year and we appreciate the time and contribution over the past 12 months.
Like many other industries the electricity sector has had to adapt and respond. Thank you for your service and commitment on behalf of all New Zealand electricity consumers.
We wish you all the best for the festive season and look forward to working with you again next year.
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Hedge Market Enhancements - permanent mandatory market making backstop proposal
Ending: 18/01/2021 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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