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  • Home
  • Consumers
    • Consumers
    • COVID-19 advice for consumers
    • What is electricity?
    • What does the Electricity Authority do?
    • How does electricity get to my house?
    • What to expect from your electricity retailer
      • What to expect from your electricity retailer
      • Consumer care guidelines
      • What happens if the hydro lakes are low?
    • What are smart meters?
      • What are smart meters?
      • Does my meter need to be recertified?
    • I want to make a complaint
    • Making a complaint - frequently asked questions
    • How do I switch electricity companies?
      • How do I switch electricity companies?
      • What happens if my retailer goes out of business?
      • Will I still get my local energy trust rebate if I switch electricity retailer?
    • How do I generate my own electricity?
      • How do I generate my own electricity?
      • What do I need to know about solar panels?
    • Your power data in your hands
      • Your power data in your hands
      • My usage
      • My meter
      • My plan
    • My power bill
      • My power bill
      • Is my electricity bill too high?
      • Why is my electricity bill higher in winter?
      • Is a spot price contract right for me?
      • Jargon Buster
    • The Electricity Price Review (EPR)
    • Retailer default customer support
  • Development
    • Development
    • Why we work on developing the electricity market
      • Why we work on developing the electricity market
      • Transition to Low Emissions Energy System
    • Advisory and technical groups
      • Advisory and technical groups
      • Innovation and Participation Advisory Group (IPAG)
      • Market Development Advisory Group (MDAG)
      • Security and Reliability Council (SRC)
      • Standing Data Formats Group (SDFG)
      • Settlement and Prudential Security Technical Group (SPSTG)
      • Switch Technical Group (STG)
      • Proposal to amend requirement for advisory group Chairs to be independent
      • Disestablished groups
    • Our work programme
      • Our work programme
      • Evolving technologies and business models
      • Consumer choice and competition
      • Pricing and cost allocation
      • Risk and risk management
      • Operational efficiencies
  • Monitoring
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    • Market performance and analysis
      • Market performance and analysis
      • Why we monitor market performance
      • What we monitor in the industry and market
      • Monitoring trading conduct
    • Electricity Market Information website (EMI)
    • Enquiries, reviews and investigations
      • Enquiries, reviews and investigations
      • Our three-stage process
      • 2023
      • 2022
      • 2021
      • 2019-2020
      • 2018
      • 2017
      • 2016
      • 2015
      • 2014
      • 2013
      • 2012
      • 2011
      • 2010
    • Interactive dashboards
  • Operations
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    • Wholesale market
      • Wholesale market
      • Spot pricing
      • Hedge market
      • Security of supply
      • Information disclosure
    • Transmission
      • Transmission
      • Transmission system
      • Transmission agreements
      • Transmission pricing
      • Grid management
      • Grid reliability standards
    • Distribution
      • Distribution
      • Distributors
      • Distribution pricing
      • Losses
      • Distributed generation
      • Connecting and electrically connecting NSPs and ICPs
    • Retail market
      • Retail market
      • Retailers
      • Metering
      • The registry
      • Electricity information exchange protocols (EIEPs)
      • Audits, approvals and certification
      • Reconciliation
    • Industry participants
      • Industry participants
      • Participant register
      • How to register as a participant
      • Participant identifiers
      • Participant events and education
      • Electricity Education portal
    • Market operation service providers
      • Market operation service providers
      • Clearing manager
      • FTR manager
      • Reconciliation manager
      • Registry manager
      • System operator
      • WITS manager
    • Consumer services
      • Consumer services
      • Provide a service with electricity data
  • Code & Compliance
    • Code & Compliance
    • Act and Regulations
      • Act and Regulations
      • How the Act, Code and Regulations fit together
      • Part 3 of the Act and Part 6A and Schedule 6A.1 of the Code
      • Regulations
    • The Code
      • The Code
      • Documents incorporated into the Code by reference
      • Historical versions of the Code
      • Amendments
      • Code exemptions
      • How the Code maps to the Electricity Governance Rules
      • Approved Systems Document
      • 2.16 Notices
    • Undesirable trading situation (UTS)
      • Undesirable trading situation (UTS)
      • What is an undesirable trading situation?
      • How to make a claim
      • UTS claims and decisions
    • Compliance
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      • About compliance
      • Our Compliance Strategy
      • Compliance monitoring
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      • Compliance framework
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      • Code breach process
      • Current investigations
      • Decisions
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      • Enforcement policy
      • Prosecution policy
      • Breach statistics and analysis
      • Compliance approach: Cyclone Gabrielle response and recovery
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  • About Us
    • About Us
    • Who we are
      • Who we are
      • Board members
      • Chief Executive
      • Management team
      • Responsible Minister
    • What we do
      • What we do
      • Our role in the electricity industry
      • How we are funded
      • Vision, values, mission
      • Stakeholder engagement
      • Working with other agencies
      • History of government involvement in electricity
      • What's My Number
    • Strategic planning and reporting
      • Strategic planning and reporting
      • Strategy reset 2020
      • Statement of Intent
      • Statement of Performance Expectations
      • The Annual Corporate Plan
      • Annual Report 2021/22
      • Year in review
      • Foundation documents
      • Memoranda of understanding
    • Media & publications
      • Media & publications
      • COVID-19
      • Speeches and presentations
      • Media releases
      • Market Brief
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      • Market Performance
      • Electricity in New Zealand
      • Proactive releases
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      • 2023/24 Planning and Reporting
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  • Home
  • Development
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  • Review of scarcity pricing

Consultations

Overview
Background
Consultations
Development
  •  

    Proposed Scarcity pricing Code amendments

    Closed

    26 Apr – 07 Jun 2016  

     

    8 submissions received (view submissions)

    The scarcity pricing regime is set out in Parts 8 and 13 of the Electricity Industry Participation Code 2010 (Code). Under that regime, if an electricity supply emergency causes forced power cuts in one or both islands, the system operator triggers scarcity pricing. Once triggered, scarcity pricing sets a $10,000 per megawatt hour (MWh) price floor and a $20,000 per MWh price cap in the trading periods affected by the emergency.

    This paper outlines six operational issues with the current scarcity pricing regime, and proposes Code amendments to resolve these issues.

    Consultation Papers

    • Consultation paper - Proposed Scarcity pricing Code amendments

      Consultation-paper-scarcity-pricing-code-amendments.pdf (PDF, 196 KB)

      Last updated: 26 April 2016

    Summary of submissions

    • Flowchart showing steps in scarcity pricing regime

      scarcity-pricing-flowchart.pdf (PDF, 37 KB)

      Last updated: 13 February 2017

    • Scarcity pricing Code amendments - final decision

      scarcitypricing-decisionpaper.pdf (PDF, 193 KB)

      Last updated: 13 February 2017

    • Summary of submissions

      scarcity-pricing-summaryofsubs.pdf (PDF, 119 KB)

      Last updated: 13 February 2017

    Submissions

    • Download a ZIP file containing all documents

    • Contact Energy

      CEN.PDF (PDF, 85 KB)

      Last updated: 26 September 2016

    • Genesis Energy

      Genesis-Energy.pdf (PDF, 64 KB)

      Last updated: 26 September 2016

    • Meridian Energy

      Meridian.PDF (PDF, 203 KB)

      Last updated: 26 September 2016

    • MEUG

      MEUG.pdf (PDF, 133 KB)

      Last updated: 26 September 2016

    • Mighty River Power

      MRP.pdf (PDF, 24 KB)

      Last updated: 26 September 2016

    • NZX

      NZX.pdf (PDF, 141 KB)

      Last updated: 26 September 2016

    • Pioneer Energy

      Pioneer-Energy.pdf (PDF, 208 KB)

      Last updated: 26 September 2016

    • Transpower

      Transpower.pdf (PDF, 323 KB)

      Last updated: 26 September 2016

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