This amendment to the Electricity Industry Participation Code 2010 (Code) comes into force on 27 April 2021.

The amendment inserts a new subpart 5B of Part 13 into the Electricity Industry participation Code 2010 ("Code") and new definitions into Part 1 of the Code. The new subpart describes a scheme that, if triggered into effect for one or more specified participants by the occurrence of specified events, will facilitate an active market for trading financial hedge contracts for electricity. The scheme will do so by imposing certain market-making obligations on one or more of Contact Energy Limited, Genesis Energy Limited, Mercury NZ Limited and Meridian Energy Limited if their respective actions or inactions trigger the application of the scheme to them.