Consumer care guidelines published
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We have worked closely with a wide range of stakeholders to produce new consumer care guidelines. The consumer care guidelines will replace the existing guidelines on arrangements for retailers to assist medically dependent and vulnerable consumers, and the addendum to those guidelines.
The guidelines are effective from 1 July 2021. We expect all retailers to align fully with them by the end of 2021.
The guidelines are available on our website. Thank you to everyone who has been involved in their development.
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Decision paper on permanent mandatory market making backstop
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The Authority has decided to amend the Code to insert a permanent mandatory market making backstop as part of its enduring approach to market making.
The dormant scheme is a backstop measure that would only be triggered into effect for one or more market makers if the performance standards set out in the Code amendment are not met.
The permanent backstop will build on the success of the temporary arrangements which worked well to support market making performance during periods of market stress throughout last year.
The Authority has been monitoring market making performance closely since the temporary arrangements ended in November 2020 and will continue to do so as the permanent backstop comes into force on 27 April 2021.
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Raising consumer awareness of Utilities Disputes and Powerswitch services
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The Code amendment requiring retailers and distributors to raise awareness of Utilities Disputes and Powerswitch takes effect on Thursday, 1 April 2021.
In response to stakeholder feedback, the Authority and Utilities Disputes have worked together to produce a factsheet outlining how the Code amendment aligns with the existing Utilities Disputes Scheme Rules.
The factsheet complements the Guidelines for raising consumer awareness of Utilities Disputes and Powerswitch services published on 12 January 2021. The factsheet and guidelines are available on our website.
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Amendments to EIEP1 come into force on 1 April 2021
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In January 2020, we made the decision to mandate ‘replacement RM normalised’ as the standard reporting methodology in EIEP1. This decision comes into force on Thursday, 1 April 2021 and includes amendments to EIEP1, as well as to the overview document and EIEPs 2 and 3.
Traders and distributors are expected to use version 11.1 of the regulated EIEPs from 1 April 2021, unless agreed otherwise under clause 3 of Schedule 12A.2 of Part 12A of the Electricity Industry Participation Code 2010.
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Reporting on Wholesale Market Information Disclosure Code amendment goes live on 1 April
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On 26 January 2021 the Authority announced a decision to amend the Code to improve the availability of thermal fuel information.
The Code amendment goes live on Thursday, 1 April 2021. The amendment imposes further obligations on a new class of participants, called major participants, including an obligation to report to the Authority on how they are meeting their disclosure obligations under clause 13.2A of the Code.
From 1 April, all major participants must start to keep a record of their disclosure decisions, ready to report on in July.
For more information please refer to the Guidelines or stakeholder briefing slides.
The Authority is in the process of developing a secure web form for you to use to complete the reporting obligations. Today the Authority has published the questions that will be the basis for this web form.
If you have any questions about the implementation of the new provisions please contact WMID@ea.govt.nz
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Reminder: Consultation on UTS proposed actions to correct
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The Authority has published the Proposed Actions to Correct: Undesirable Trading Situation 2019 paper for consultation.
The Authority encourages and welcomes submissions on the proposed actions to correct. Submissions close 5.00pm Tuesday, 27 April 2021. We will then publish submissions and open a three-week cross submission consultation period.
Please note the Authority wants to publish all submissions it receives. If you consider that we should not publish any part of your submission, please follow the steps in the Consultation Paper.
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Market Brief over the Easter break
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We will not publish a Market Brief newsletter on Tuesday, 6 April 2021 due to Easter.
The next edition of Market Brief will be published on Thursday, 8 April 2021.
In the meantime please check our website and Twitter for any announcements.
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Draft determination of the causer of the 30 October 2020 under-frequency event
Ending: 13/04/2021 5pm
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Proposed Actions to Correct: UTS 2019
Ending: 27/04/2021 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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