Correcting spot price misperceptions and an update on the wholesale market review
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Over the past few weeks, there has been public commentary on high spot electricity prices and security of electricity supply – some of which is inaccurate.
The Authority is taking the opportunity to correct these misperceptions and provide an update on our response to increased market volatility and periods of high prices.
Our review of the wholesale market has been re-focused to include competition in the spot market and will investigate the structure, conduct and performance of the spot market since 2018.
Some key points about the market and prices are clarified on our website.
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The Authority has published insights on the accuracy of the ASX forward price curve as a predictor of the spot price for a future period.
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Proposed Actions to Correct: UTS 2019
Ends today at 5pm
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Battery energy storage systems offering instantaneous reserve
Ending: 06/05/2021 5pm
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Extended reserve Code amendment
Ending: 11/05/2021 5pm
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Internal transfer pricing and profitability
Ending: 18/05/2021 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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