This note is not part of the amendment, but is intended to indicate its general effect.

This amendment to the Electricity Industry Participation Code 2010 (“Code”) comes into force on 1 January 2026.

The amendment amends Part 14 of the Code as part of the Electricity Authority’s Code amendment omnibus number four to permit the clearing manager to settle fixed price variable volume (“FPVV”) hedges using a new form of hedge settlement agreement. The hedge settlement agreement will cater for different types of FPVV hedges.