Reports & publications
The Electricity Industry Act 2010 (Act) requires the Authority to undertake the following two functions:
16(1)(f) to monitor the operation and effectiveness of market facilitation measures; and
16(1)(g) to undertake industry and market monitoring, and carry out and make publicly available reviews, studies, and inquiries into any matter relating to the electricity industry.
These guidelines set out an overview of the Authority's information gathering powers and the general principles and procedures that the Authority must follow when using its information gathering powers for the purposes of carrying out the functions listed above.
The Authority has released an information paper describing its approach to undertaking its market monitoring function. The paper covers the purpose of the function, the types of monitoring that will be undertaken, and scope of activities. The focus of the paper is on the monitoring of competition within all markets under the ambit of the Authority.
Industry and market monitoring: Reliability and efficiency
The Authority has released an information paper explaining how the Authority is monitoring the industry and market for reliability and efficiency. The paper is a companion paper to the earlier information paper addressing competition issues.
Final pricing error identified by vSPD
On the morning of 11 December 2012 the Authority’s vectorised scheduling pricing and dispatch (vSPD) model indicated final prices at Dargaville (DAR0111) were slightly higher than prices published by the pricing manager for two trading periods on 10 December 2012. Further investigation revealed that the incorrect values for load at DAR0111 had been used by the pricing manager, causing the pricing manager to publish prices that were $0.62/MWh and $0.68/MWh lower than they should have been for trading periods 16 and 17 on 10 December 2012 respectively.
Further details about the pricing error and the Authority's use of vSPD to independently check pricing are available in the document below: