Decision on undesirable trading situation claim
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The Electricity Authority has completed its investigation of the undesirable trading situation (UTS) claim. The claim from Haast Energy Trading Limited and Electric Kiwi Limited alleged that a UTS occurred on 9 August 2021 in relation to six trading periods (37 to 42). Two more parties subsequently joined the claim: Flick Energy Limited and Switch Utilities Ltd.
The Authority released a preliminary decision in December 2021 for consultation, followed by a supplementary consultation in April 2022.
The Authority has reached a final decision that there was no UTS.
The Authority’s decision document, previous consultation documents, submissions, and the claim are on our website. You can read the media release here.
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Revised delivery of dispatchable demand enhancements for real time pricing
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Development of the software changes related to the real time pricing (RTP) project have been under way with the Authority’s market service providers since 2019. This work has been progressing well with two market system change releases successfully deployed by the system operator so far.
Pandemic driven staff turnover at Transpower has impacted the software development and test phase of the remaining RTP changes. This has led to the need to re-schedule some aspects of the real time pricing software development to ensure that the market pricing changes release goes ahead as planned on 1 November 2022.
To achieve this, the Dispatchable Demand and Dispatch Notification enhancements, originally scheduled for February 2023, are now scheduled for market release in April 2023.
Participants interested in registering as Dispatchable Demand or Dispatch Notification participants should contact the system operator (market.operations@Transpower.co.nz) as early as possible to discuss the technical and compliance requirements.
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Trader default process update
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On 10 June the Authority triggered its trader default process after being alerted by the clearing manager that Platinum Power Retail Limited had defaulted on its prudential requirements.
The Authority notified Platinum Power’s customers directly and encouraged them to switch retailers using Powerswitch.
On 27 June 2022, the remaining 38 customers were automatically switched to new retailers to ensure continuation of their electricity supply. Those customers, and the recipient retailers, will be directly notified.
More information on the trader default process is available on our website.
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New MoU for the Electricity Authority and Utilities Disputes
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The Electricity Authority (the Authority) and Utilities Disputes Ltd (UDL) recently signed a Memorandum of Understanding (MoU), formalising an even closer working relationship for the two organisations based on mutual assistance and cooperation.
The Authority and Utilities Disputes share a common focus on improving the consumer experience in the electricity sector.
The new MoU will help to streamline communication, cooperation, and information sharing, where appropriate, between the two agencies.
The Authority has a particular responsibility to safeguard the long-term benefits of consumers, and also recently published new Consumer Care Guidelines. The guidelines educate retailers and consumers about their responsibilities and what consumers can expect of their retailer if they are in hardship or are medically dependent.
You can read more about the new MoU and the Consumer Care Guidelines on our website or visit Utilities Disputes at udl.co.nz.
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Statement of Performance Expectations and Annual Corporate Plan 2022/23 published
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We have published our Statement of Performance Expectations and Annual Corporate Plan for 2022/23.
The Statement of Performance Expectations (SPE) outlines our planned performance for the 2022/23 financial year. It includes information about our business-as-usual activities and functions, as well as our forecast financial statements.
The Annual Corporate Plan (ACP) sets out our planned activities for 2022/23 that promote our strategic priorities, address regulatory risks and harms, and deliver sector outcomes.
Both documents should be read alongside our Statement of Intent 2021-2025 (SOI), which outlines the Authority’s long-term strategic intentions.
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FTR market observations
Ends 5pm, 4 July 2022
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RTP Final Elements: Code amendment
Ends 5pm, 19 July 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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