The Authority is calling for nominations for the Retail Advisory Group and Wholesale Advisory Group. These groups provide independent advice to the Authority about the development of the electricity market, particularly the development of the Electricity Industry Participation Code 2010 (Code) and the development of market facilitation measures.

The Authority is seeking five people with extensive knowledge and experience of the retail electricity market or consumer interests to fill existing or upcoming vacancies on the Retail Advisory Group; and four people with extensive knowledge and experience of the wholesale electricity market to fill existing or upcoming vacancies on the Wholesale Advisory Group.

Further information on the role of the advisory groups, including nomination forms, are available at:

Nominations should be emailed to info@ea.govt.nz with 'Nomination for Advisory Group' in the subject line by 5pm, Friday, 18 May 2012.

The Authority has received some very useful feedback on the stress tests it published at the end of February 2012. To address some of the more common queries raised, the Authority has prepared a list of FAQs, which are available here:

The Authority has prepared responses to some of the general comments received and has revised the initial set of stress tests:

It has also added a new webpage outlining the process provided in clause 13.236C of the Code (Approving consolidated spot price risk disclosure statements), by which two disclosing participants might apply to have one them complete a single statement on behalf of both participants.

The Authority is receiving expressions of interest from disclosing participants who would like to undertake an operational test of the system for completing, sending and receiving, and collating spot price risk disclosure statements. Those wishing to be part of this test, please email Greg Williams at greg.williams@ea.govt.nz before the end of April. The test would take place in May 2012 and more details will be provided in next week's Market Brief.

The Authority is reviewing the submissions on revised draft model use-of-system agreements and a proposed programme for monitoring their uptake. The Authority intends to finalise the agreements by 30 June 2012.

The submissions are available at:

The Authority has published its draft decision on a request for an exemption under section 90 of the Electricity Industry Act 2010, relating to Mr Miller's involvement in Mighty River Power Limited while still being a director of Auckland International Airport Limited.

The Authority seeks comments from interested parties on the draft decision, including comments on the terms and conditions proposed, by 5pm on Thursday, 26 April 2012. Comments should be submitted to retailoperations@ea.govt.nz.

The draft decision is available at:

As part of the establishment of a market in financial transmission rights (FTRs), the Financial Markets Authority (FMA) has gazetted two notices:

The Authority sought these declarations as part of the establishment of the FTR market. As a financial product, FTRs are regulated under the Securities Markets Act 1988 and are subject to Financial Markets Authority scrutiny.

The New Zealand Exchange Limited (NZX), the clearing manager, is running a workshop on its proposed methodology for determining the minimum level of security required from participants who hold financial transmission rights (FTRs).

The workshop will be held from 1pm to 3pm on Thursday 3 May 2012 in Wellington. NZX will present a summary backcasting FTR settlement from 2007 and discuss the proposed FTR valuation methodologies at the workshop.

The clearing manager's workshop will be held the same day as a workshop offered by Energy Market Services (EMS, the FTR manager) on its draft FTR allocation plan. EMS's workshop will be held in the morning of Thursday 3 May 2012, also in Wellington. NZX will present a summary of the draft clearing provisions as part of the EMS workshop.

Interested parties must register with the clearing manager and the FTR manager directly to attend each free consultation workshop. Workshop details, the consultation papers, and the consultation deadlines are all available on the following websites:

Clearing manager: http://www.nzxgroup.com/energy

FTR manager: www.ems.co.nz/ftr

The latest Authority Compliance Update is available at:

An updated version of the wholesale information and trading system (WITS) automation manual (v1.38 draft) is available at:

Questions about this document can be directed to Zane Doran: zane.doran@nzx.com

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