Clearing market operation service provider
This involves a number of tasks, the most obvious one being invoicing participants for sale and purchase of electricity and related services. On a monthly basis, the Clearing Manager does this by combining reconciled quantity information provided by the Reconciliation Manager with half-hourly pricing information from the Pricing Manager to determine the amounts owed to and by each market participant. Annually, the Clearing Manager acts as the counterparty for over $6 billion worth of electricity transactions.
An equally important role of the Clearing Manager is ensuring that participants will be able to pay invoices for electricity they have consumed. This role is particularly important in an electricity market because unlike other products, electricity has already been consumed at the point it is invoiced, and can't be repossessed. If a purchaser fails to pay, then generators cannot be paid which may result in considerable cash flow issues. The Clearing Manager provides confidence in the market by continuously monitoring prudential security requirements. It also manages any disputes or payment defaults.
Clearing and Settlement processes and requirements are set out in Part 14 of the Code.
2013-Varitation-to-Clearing-Manager-service-provider-agreement..pdf | pdf | 2.8 MB | Last Changed: 17/05/2013 3:09pm
2012-variation-to-Clearing-Manager-SPA.PDF | pdf | 3.7 MB | Last Changed: 14/01/2013 1:22pm
Clearing-Manager-SPA.pdf | pdf | 2.9 MB | Last Changed: 28/06/2012 11:46am
CM-operational-requirements.pdf | pdf | 186 KB | Last Changed: 27/06/2012 11:50am
CM-FS-Feb12.pdf | pdf | 241 KB | Last Changed: 27/06/2012 11:52am
deed-of-novation-Jun09.pdf | pdf | 711 KB | Last Changed: 10/09/2010 1:39pm
Relating to the assignment from M-Co to NZX of the Clearing Manager, Pricing Manager, Reconciliation Manager and Wholesale Information and Trading System Agreements.
This page is related to: Market Operation Service Providers.