We have been considering three real-time pricing design elements and have now published a Consultation paper for your consideration - with submissions due by 5pm on the 30 April 2019.

The briefing held in Wellington on 29 March 2019:

  • provided an update on the project - including a recap on the work completed thus far and what is going to happen next
  • presented details of our proposals for the remaining RTP design elements: 
    • 'dispatch-lite' (a form of dispatchable demand for smaller purchasers), now expanded to include distributed generation
    • a process for reviewing the dollar amounts assigned to the default scarcity pricing values
    • the pricing that should apply during shortfalls in instantaneous reserve.

The final session focused on scenarios involving shortfalls in instantaneous reserve, and described how we anticipate the market will operate under RTP.

We have also published supporting technical material on the 'risk-violation curve' design element, as a zip archived file. This material includes full modelling results, summary charts, and further technical explanations.