Market Development Advisory Group

The Market Development Advisory Group provides us with independent advice on issues that relate to pricing and cost allocation, risk and risk management, and operational efficiencies.


We formed the Market Development Advisory Group (MDAG) in October 2017.

MDAG provides independent advice to us on the development of the Electricity Industry Participation Code 2010 and market facilitation measures.

MDAG focuses its advice on matters relating to the evolution of the ‘machinery’ of the electricity market, specifically:

  • initiatives to promote efficient pricing in markets and for monopoly services
  • initiatives to promote efficient management of capacity and energy risks
  • any other policy matters that the Authority considers appropriate.

Pricing in a renewables-based electricity system

New Zealand has committed to achieving net zero emissions by 2050, with the Government aspiring to achieve 100% renewable electricity by 2030. Over the coming decades it is likely that heating and transportation in New Zealand will need to be electrified, causing a significant increase in demand for electricity. This will need to be met by large quantities of new renewable electricity generation.

MDAG is investigating how the wholesale electricity market might operate with an electricity supply that is renewables-based. MDAG is identifying and analysing solutions for future action and will develop recommendations for the Electricity Authority for changes to the wholesale electricity market. The aim of these recommendations is to ensure economically efficient price signals and the efficient operation of the electricity industry for the long-term benefit of consumers.


MDAG is made up of nine representatives who are appointed by the Electricity Authority to represent a broad array of expertise in the electricity industry.

Tony Baldwin


Tony Baldwin was re-appointed as Chair of the Market Development Advisory Group from 30 May 2022 - 30 April 2023.

Tony is a consultant providing advisory and project management services in relation to transactions, strategy, re-structuring and public policy.

He has a long involvement in the electricity industry, starting in the early 1990s leading the Government’s team of officials and consultants in breaking-up the Electricity Corporation of New Zealand, through to project managing for Genesis Energy its role in the MOM IPO process and various subsequent acquisitions.

Tony has previously chaired industry groups on the electricity hedge market and model electricity retail contracts.

Paul Baker

Commercial and Regulatory Manager, Nova Energy

Paul Baker looks after regulatory engagement across the electricity and gas sectors at Nova Energy and undertakes commercial negotiations with industry parties.

Paul Baker has over 15 years’ experience in the electricity sector. Following management roles in the financial services and chemical industries, Paul worked with the Treasury, where he advised Ministers on State-owned Enterprises, including Genesis Energy and Meridian Energy.

In 2004, Paul became Managing Consultant at Energy Link, with responsibility for its forecasting and consulting projects. 

Paul holds an MCom (Hons) in Operations Research and has broad management experience including corporate planning, financial analysis, financial product design and marketing.

Matthew Cleland

Head of Wind and Solar, Contact Energy

Matthew Cleland has 15 years’ experience in the New Zealand energy industry. He is currently leading Contact’s development of wind and solar generation projects across New Zealand.

Matthew has previously held responsibilities for Contact’s key commodity trading functions, including electricity spot and forward markets, carbon and gas trading. Matthew has been involved since the start of the New Zealand electricity futures and Financial Transmission rights markets, serving on both the ASX NZ Electricity Futures and FTR User Groups.

Stu Innes

Chief Executive Officer, emhTrade

Stu Innes is currently CEO and Co-Founder of emhTrade, a proprietary trading firm and independent retailer. The firm specialises in using software automation and analytics to trade electricity and provide insight across the supply chain. emhTrade launched one of the world's first residential peer-to-peer electricity platforms in 2016 and continues to develop this product.

Stu has had a keen involvement in the regulatory process, particularly in regards to wholesale market design. His background is as an energy trader and quantitative analyst. Stu has over ten years' experience trading in NZ markets including spot trading, ASX and OTC futures and options, including market making of these contracts as well as FTRs and other derivatives. Stu has also traded physical electricity and gas products in the UK and Europe.

Stu has previously sat on the Locational Price Risk Technical Group and chaired the Settlement and Prudential Security Technical Group. He is a current member of the ASX Users Group and the FTR Users Group.

Tony Oosten

Energy Manager, Fonterra

Tony Oosten is currently the Energy Manager at Fonterra. He has 13 years’ experience in the international pulp and paper industry working across New Zealand, Malaysia and Canada. His areas of expertise are decarbonisation of process industries, energy efficiency, as well as a government regulation of energy supply and emissions trading.

Tony sits on the Major Electricity Users Group and the Major Gas Users Group and is a board member of the Bioenergy Association of New Zealand.

Tony has a qualification from Canterbury University in Chemical and Process Engineering.

Rebecca Osborne

Head of Grid Pricing, Transpower

Rebecca Osborne has over 16 years experience in the New Zealand electricity sector. She has been a member of MDAG since its inception in 2017.

Rebecca has worked for Meridian Energy, Energy for Industry, Pioneer Energy and is currently the Head of Grid Pricing for Transpower. Her roles have encompassed commercial, development, trading, market risk, strategy, network pricing, regulatory functions and stakeholder engagement. Her industry-wide experience includes large gentailer, independent generators, new entrant retailers, the transmission sector and heat energy (including innovative energy products, decarbonisation, waste-to-energy and implementation of regulatory policy).

Prior to joining the electricity sector, Rebecca worked as a consulting process engineer in New Zealand and the UK across the dairy, chemicals and natural gas industries.

Andrew Kerr

Head of Policy, Regulation and Markets, Powerco

Andrew Kerr manages Powerco’s regulatory and pricing functions across its electricity and gas networks. A core element of this role is advising on the interaction of economic and market regulation on consumers, contestability, and network sustainability.

Andrew has over 25 years’ experience in the energy sector. His previous industry and consulting roles have ranged from developing electricity security of supply settings, modelling gas and electricity market structures and dynamics (NZ and overseas), and scenario development and analysis under environmental and economic constraints.

Andrew has a PhD in Management Science.

Fiona Wiseman

Head of Policy, Consenting and Risk, Manawa Energy

Fiona Wiseman has 15 years’ experience in the energy sector. She has worked in regulatory roles both within the market regulator and privately owned participants.

Prior to moving back to New Zealand in 2017, Fiona worked in the market design team for the Independent Market Operator in West Australia and later was the Wholesale Regulation Manager for Alinta Energy.

Fiona holds a Master of Applied Economics and has a broad experience in economic and market regulation.

In her current role as Head of Policy, Consenting and Risk at Manawa Energy, Fiona leads the environmental and market policy, consenting and risk teams.

Al Yates

Chief Executive Officer, Ecotricity NZ

Over the last 15 years, Al Yates has been Managing Director of Wind Farm Group, an independent wind developer and more recently CEO of carboNZero Certified electricity retailer Ecotricity.

Al has been involved in a number of start-ups in the telco, IT and tourism sectors, including Brightpoint and Snowplanet.

He has served for a number of years on the NZ Wind Energy Association and, more recently, is heavily involved in the promotion of electric vehicles and solar generation. Al is on the board of ChargeNet, a nationwide public electric vehicle rapid charger network.

Al has a Bachelor of Commerce, majoring in marketing and entrepreneurship.

Key documents