Consultation is now open on the Market Development Advisory Group’s Options Paper – Price Discovery in a Renewables-Based Electricity System

The Market Development Advisory Group (MDAG) has today released an options paper that considers how price discovery would work for the wholesale electricity market (including spot and hedge markets) under a 100% renewable electricity system.

MDAG is made up of 10 representatives from the electricity sector who provide independent advice to the Authority on issues in the Authority’s work programme that primarily relate to pricing and cost allocation, risk and risk management, and operational efficiencies.

The options paper proposes a range of options where change could be warranted as we transition towards 100% renewable electricity supply.

The Authority and MDAG recognise that the sector has a key role to play as we transition towards a 100% renewable electricity system, and many options in the paper will impact sector participants. The Authority and MDAG welcome feedback on all options.

The MDAG will consider submissions on this consultation before developing final recommendations to the Authority in mid-2023.

Submissions close 5:00pm on Monday 6 March 2023.

The consultation paper is available below.

If you have further questions, please email MDAG@ea.govt.nz.

Annual Report 2021/22 published

The Electricity Authority’s Annual Report for the 2021/22 financial year has been published and is available to view on our website.
 
The Annual Report covers our significant achievements and the challenging situations we navigated  during the 2021/22 year. It also provides detailed reports on our financial and non-financial performance.
 
This year, we've published an Annual Report Overview, which provides a high-level summary of the Annual Report and our performance, and highlights the important progress made in terms of our strategic ambitions for the sector.

For the Annual Report 2021/22, we've commissioned AK Research to undertake surveys of participant and consumer perceptions, and MartinJenkins to undertake independent assessments on consumer centricity, trust and confidence, and low-emissions energy.  

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 2021/22 has been tabled in Parliament and published in accordance with the Crown Entities Act 2004.

Call for nominations for the Security and Reliability Council

• electricity generation, particularly thermal, wind and solar
• the interests of consumers, including demand-side management technologies
• power system operations and performance.

System operator is consulting on the 2023 security of supply annual assessment (SOSA) reference case assumptions

Transpower, as the system operator, is responsible for annually publishing the medium-term security of supply assessment (SOSA). This assessment provides a ten-year view (2023 to 2032) of the balance between supply and demand in the New Zealand electricity system, evaluated against the three security of supply margins:

1. New Zealand Winter Energy Margin (NZ-WEM)
2. South Island Winter Energy Margin (SI-WEM)
3. North Island Winter Capacity Margin (NI-WCM)

The purpose of the consultation is to invite feedback from market participants on two areas of the 2023 SOSA prior to drafting:
• the proposed key reference case assumptions; and
• the sensitivities that we are proposing to apply (individually and combined) to the reference case.
 
This consultation is open until close of business on 16 December 2022.
 
The 2023 SOSA reference case assumptions and sensitivities consultation document can be found below.

Current consultations