Update on proposed new TPM consultation
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CBA technical materials
The Authority has published a set of technical documents as part of its proposed new TPM consultation. These documents relate to the CBA for the proposed new TPM.
Cross-submissions
The Authority can also confirm that cross submissions for the proposed new TPM close on 23 December 2021.
Regional information sessions
Following the Government’s 18 October announcement that Auckland will remain at Covid alert level 3 for at least a further two weeks, the Authority has moved the Auckland and Whangarei regional information session online.
This 3 November online session will also be open to anyone who wishes to attend an online TPM information session. Other regional sessions will be held in person if COVID alert levels allow. If COVID alert levels do not allow face-to-face events, a further online session may be scheduled.
The Authority will also hold additional online information sharing sessions on how the residual charge applies to batteries and similar storage, indicative pricing and case studies, and the CBA. More details on the events are provided below:
Thank you to those who have registered for an information session already. If you wish to attend and haven’t yet registered your interest, please email TPM@ea.govt.nz. Those registering for online sessions will be sent an email with the link to join.
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Permanent change to definition of disclosure information
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The Authority has decided to permanently amend the definition of ‘disclosure information’ in the Electricity Industry Participation Code 2010 (Code) by replacing the words “is likely to” with the words “will, or is likely to”.
This amendment follows the urgent Code amendment which is due to expire in January 2022.
The effect of this amendment is to lower the threshold for determining whether information is disclosure information from the threshold applied by the Rulings Panel in its decision Haast Energy Trading Ltd v Genesis Energy Ltd under the definition of “disclosure information” that applied prior to the urgent amendment.
The amendment will allow for an effective disclosure regime where relevant information is disclosed into the market. It is important that consumers are in the best possible position to benefit from a well-functioning market where market participants are well informed to make decisions that increases competition, leading to more efficient pricing for consumers.
The decision paper is available on the Authority's website.
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Internal transfer pricing and segmented profitability reporting - Code amendment
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In October, the Authority decided to amend the Electricity Industry Participation Code 2010 (Code) to require the disclosure of mass market internal transfer price (ITP) information by large integrated generator retailers and retail gross margin reports by certain retailers.
The Code amendment, available in the decision paper, will come into force on 30 November 2021.
Disclosing participants will be required to provide the Authority with ITP information and/or retail gross margin reports by no later than 90 days after the end of their financial year. This information must be disclosed to the Authority on its Information Provision Portal. The Authority will advise participants on how to disclose the required information at a later date.
The Authority intends to publish the disclosed ITP information and information received in the retail gross margin reports and is developing a benchmarking tool which allows users to compare the internal transfer prices of the disclosing participants to a series of benchmarks. This tool facilitates the interpretation of the ITP information and the methodologies used to derive it. This tool will be made available on the Authority’s website at a later date.
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Authority consultation on 2021/22 and 2022/23 levy-funded appropriations
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We have published a consultation paper seeking feedback on our 2021/22 and 2022/23 levy-funded appropriations.
The consultation paper and information on how to provide responses are available on our website.
The consultation closes at 5pm on Tuesday, 30 November 2021.
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An exemption under Part 3 of the Act has been granted to Top Energy Limited
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We have granted an exemption under Section 90(1)(a) of the Electricity Industry Act 2010 (Act) to Top Energy Limited. Section 90 permits the Authority to grant exemptions from obligations in Part 3 of the Act, which relate to the separation of distribution from certain generation and retailing activities.
The exemption came into force on 13 October 2021. Applications and Gazette notices for exemptions made under Section 90 are available on our website.
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We have discontinued an investigation into alleged breaches by Advanced Metering Services Limited concerning the provision of edited certificates to an auditor.
No settlement was possible.
Notice of our decision and the reasons is on our website.
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Assisting distribution networks with faster pricing reform
Ending: 3/11/2021 5pm
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Setting the Authority's Compliance Strategy
Ending: 23/11/2021 5pm
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2021/22 and 2022/23 levy-funded appropriations
Ending: 30/11/2021 5pm
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Proposed new Transmission Pricing Methodology
Ending: 2/12/2021 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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