In December 2020, the Authority found there was an undesirable trading situation (UTS) between 3 and 27 December 2019.
The UTS claim, submissions and decision paper are on our website.
The UTS provisions of the Code provide the Authority with the ability to address such situations and restore the normal operation of the market.
The Authority is working on a preliminary ‘actions to correct’ paper for consultation.
We intend to release the preliminary paper by the end of March 2021.
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Trading Conduct consultation now live
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The Authority is consulting on a new trading conduct rule.
The proposed rule would replace the current trading conduct provisions in the Code which are intended to encourage appropriate trading behaviour by wholesale electricity market participants. The proposed rule is intended to provide more clarity in the interpretation and enforcement of the provisions.
Under the proposed rule, generators and ancillary service agents would be required to ensure any offers they make in the wholesale electricity spot market are consistent with offers they would have made in a market where no party could exercise significant market power.
We anticipate this change will promote more efficient prices when competition is weak and improve confidence in the wholesale market for the long-term benefit of consumers.
The Authority will support any changes to the rule with enhanced monitoring and enforcement.
We encourage interested stakeholders to respond with their feedback by 5pm Tuesday 23 March 2021.
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Electricity Industry Participation Code amendment (Reporting on Wholesale Market Information Disclosure) 2020
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On 1 April 2021 the Electricity Industry Participation Code Amendment (Reporting on Wholesale Market Information Disclosure) 2020, will come into force.
The amendment relates to Parts 1 and 13 of the Code.
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Draft determination of the causer of the 4 February 2020 under-frequency event
Ending today at 5pm
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Trading conduct consultation
Ending: 23/3/2021 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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