Consultations

In July 2021 the Authority consulted on a proposed Code amendment, the Electricity Industry Participation Code 2010 (Code) (Regular and Event-Driven Provision of Information to the Authority), enabling the Authority to publish notices for consultation, specifying information that must be provided by industry participants. The Code amendment was approved in June and came into force on 1 August 2022.

The Authority is now welcoming submissions on a notice under the amended Code, in the Retailer Financial Stress notice consultation paper. The retailer financial stress data request will allow the Authority to monitor retailer financial stress on a permanent basis, reduce transaction costs of information gathering, and provide regulatory certainty for existing and prospective retailers on what will be required of them on an ongoing basis.  This will replace the current COVID-19 related Section 46 notice seeking information on retailer financial stress, which expires on September 30, 2022.

Monitoring of retailer financial stress will enable the Authority to measure the impact of major unforeseen events quickly and effectively, ensuring that we have a comprehensive understanding on how these events may impact consumers. This is in line with the Authority’s strategic ambition to deliver long-term benefits for consumers.  

Submissions on the consultation are open from 2 August and close at 5pm on 23 August. The Retailer Financial Stress Consultation paper is available below.

An evolving New Zealand electricity market puts increased emphasis on the Electricity Authority (Authority) being well-informed to effectively perform its functions under the Electricity Industry Act 2010 (Act).

The Authority consulted on amending the Electricity Industry Participation Code 2010 (Code) to put a standardised framework in place for the ongoing provision of information to the Authority.

This proposal was intended to help the Authority to be sufficiently informed to perform its functions and make it easier for industry participants to engage with the Authority around its information needs and to efficiently provide ongoing information to the Authority.

Update: The Board has now approved an amendment to Part 2 of the Code enabling the Authority to publish notices requiring participants to submit information as specified by the Authority. This amendment will come into force on 1 August 2022. The amendment will deliver greater durability of market arrangements, better and more informed Code development, and a streamlined, more efficient approach to the mandatory regular provision of information to the Authority. You can read the decision paper below: