How the Act, Code and Regulations fit together
The Electricity Industry Act 2010 (Act) came into force on 1 November 2010 and authorises the making of regulations and the Electricity Industry Participation Code 2010 (Code).
To date, regulations have been made to provide for the Rulings Panel and procedures for dealing with breaches of the Code, to provide for the levy payable by electricity industry participants, and to add an additional market operations service provider to those listed in the Act.
The Code also came into force on 1 November 2010. The Act provides that the Authority can amend the Code, and sets out the process for doing so. The Code must be consistent with the Authority's statutory objective, and can impose obligations only on industry participants or the Authority. If any provision in the Code conflicts with the Act or any regulations, the Act or regulations prevail.