Wholesale electricity market competition review submissions published
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The consultation period for the Wholesale electricity market competition review ended on 22 December 2021.
The Authority received 34 submissions which are available on our website.
The Authority would like to thank those participants who have provided their feedback on the papers. The feedback will help inform the next stages of the review on the options that could be considered further and the criteria the Authority could use to assess the long-term benefits to consumers of potential interventions. As stated in the consultation paper, the Authority intends to consult again drawing on the feedback from submissions in Q1 2022.
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Submissions on proposed SRAM principles now invited
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The Authority has begun consultation on proposed principles for a new settlement residual allocation methodology (SRAM).
The SRAM determines the allocation of the settlement residue – often referred to as the residual loss and constraint excess (LCE) – the remainder of the wholesale market LCE and Financial Transmission Rights (FTR) auction revenue after FTR payments have been made. The current SRAM will be obsolete once the 2020 TPM guidelines are implemented.
The submission period for the proposed SRAM principles ends at 5pm on 1 March 2022.
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Transmission Pricing Methodology proposal update
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The cross-submission period for the proposed new TPM ended on 23 December 2021.
The Authority received 12 cross-submissions on the proposed new TPM, which can be viewed on the Authority's website, along with the consultation documentation. The accompanying supporting information and analysis is available on the EMI website.
We are currently considering the initial submissions, along with the 12 cross-submissions.
The Authority has previously indicated that it was targeting a commencement date of 1 April 2023, but that there were still several steps remaining in the process that could impact on this. Our view on the timing of commencement for any new TPM is likely to become clearer after we have completed analysis and fully considered information provided in initial submissions and cross-submissions.
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Annual Review of the System Operator’s Performance
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We have published our annual review of the performance of the system operator (Transpower) for the period ended 30 June 2021.
The review concludes the system operator has generally performed at a high level during the review period.
The annual review is available on our website.
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Electricity Authority 2020/21 Annual Report
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The Electricity Authority’s Annual Report for the 2020/21 financial year has been published and is available to view on our website.
The Annual Report covers the Authority’s key achievements from the 2020/21 year and provides detailed reports on our financial and non-financial performance.
For the 2020/21 Annual Report, we commissioned UMR Research to undertake surveys on participant and consumer perceptions, and MartinJenkins to undertake independent assessments on consumer centricity and trust and confidence.
Reports from the surveys and assessments, and what the Authority is doing to respond to the feedback received, are now available on our website.
The Annual Report has been tabled in Parliament and published in accordance with the Crown Entities Act 2004.
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IPAG meeting papers published, 14 December 2021
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IPAG’s 33rd meeting papers are now published. At the meeting, James Stevenson-Wallace and Andrew Doube welcomed the new IPAG members, the new members presented on key challenges and opportunities in the sector, and John Hancock gave a refresher on previous IPAG projects.
The South Island Distribution Group (SIDG) provided an update on new operating models, Concept Consulting continued their presentation on electricity supply arrangements for EVs and Transpower gave an update on the development of flexibility services and platform providers. Authority staff joined the meeting to further discuss the data and information theme and the market settings theme set out in the discussion paper “updating regulatory settings for distribution networks”.
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MDAG meeting papers published
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MDAG’s 35th meeting papers are now published: The Authority has published papers from the Market Development Advisory Group (MDAG) meeting 35 on 15 December 2021 and the minutes of the MDAG meetings held on 17 November and 2 December 2021.
At the 15 December 2021 meeting, the MDAG discussed its draft issues paper on price discovery under 100% renewable electricity supply.
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2021 Dry Year Event Review
Ends 5pm 25th January 2022
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9 August 2021 – UTS Preliminary Decision
Ending: 5pm 3 February 2022
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Proposed SRAM Principles
Ends 5pm, 1st March 2022
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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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