The Ministerial Review identified the following new matters for inclusion in the Code:
- Provision of compensation by retailers to consumers during public conservation campaigns;
- Imposing a floor, or floors, on spot prices for electricity in the wholesale market during supply emergencies (including public conservation campaigns);
- Mechanisms to help wholesale market participants manage price risks caused by constraints on the national grid;
- Mechanisms to allow participants who buy electricity on the wholesale market (commonly called the "demand side") to benefit from demand reductions;
- Requirements for distributors that do not send accounts to consumers directly to use more standardised tariff structures;
- Requirements for all distributors to use more standardised use-of-system agreements, and for those use-of-system agreements to include provisions indemnifying retailers in respect of liability under the Consumer Guarantees Act 1993 for breaches of acceptable quality of supply, where those breaches were caused by faults on a distributor's network;
- Facilitating, or providing for, an active market for trading financial hedge contracts for electricity.
Completion of section 42 matters
The Authority was required to give effect to the seven new matters listed in section 42 of the Electricity Industry Act before 1 November 2011.
The Authority's report to the Minister on completion of the section 42 matters is below:
The Authority is also continuing to work on other priority projects such as:
- Part 10 Review Project (previously known as the "Part D Review Project")
- Improving the frequency keeping market
- Instantaneous reserves market
This page is related to: Priority Projects.