The trading conduct provisions were introduced in 2014 and have been repeatedly tested since then. In 2017 the Authority asked the Market Development Advisory Group to review the high standard of trading conduct provisions to determine whether they are fit-for-purpose. Most stakeholders agree these provisions lack clarity and need to be revised.

Following a comprehensive review involving multiple consultations with interested parties as well as the use of expert panels to test options, the Authority has decided on a new trading conduct rule.

The new rule came into effect on 30 June 2021.

Guidance to support understanding of the new rule is available here.

Overview

Date Activity
1 Jun 2021 Development: The Authority is introducing a new trading conduct rule from 30 June 2021. Read more
09 Feb – 23 Mar 2021 Consultation: We are proposing to replace clauses 13.5A and 13.5B and the definition of “pivotal” in Part 1 of the Electricity Industry Participation Code 2010 with a new trading conduct rule. Read more
15 Dec 2020 Development: The Market Development Advisory Group (MDAG) has presented their final recommendations on the Review of Trading Conduct Provisions to the Authority. Read more
22 Oct – 05 Nov 2020 Consultation: After considering feedback from submissions and the findings from the evaluation panels process, the MDAG changed some aspects of its original proposal. Read more
15 Sep 2020 Development: During July and August 2020, the MDAG ran an evaluation panels process to test how their proposed Code provision might be interpreted and applied to hypothetical case studies, with expert panels acting as proxies for the Rulings Panel and Courts. Read more
25 Feb – 27 May 2020 Consultation: The Market Development Advisory Group (MDAG) has published a discussion paper reviewing the ‘High Standard of Trading Conduct’ provisions. Read more
25 Feb 2020 Event: The MDAG is holding workshops to brief stakeholders on its discussion paper which reviews the High Standard of Trading Conduct provisions in the Code. Read more
8 Jul 2019 Event: MDAG is holding a briefing to update stakeholders Read more
08 07 2019 Development: The briefing will be about MDAG’s work on pivotal pricing Read more
13 05 2021 Background: The aim of the project is to review the trading conduct provisions in light of events that have tested them, to ensure the provisions are effective in promoting outcomes consistent with workable competition. Read more