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 March 2024.

This amendment makes a variety of independent and relatively minor amendments as part of the Electricity Authority's Code review programme to improve the operation of the Code.

This amendment amends Parts 1, 2, 3, 6A, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16A and 17 of the Code. The changes include:

a. updating and clarifying definitions including "at risk HVDC transfer", "business day", "configuration", "electrical installation", "embedded network", "national holiday", "reconciliation participant" and "shared unmetered load";

b. enabling profiles which fail an audit to remain on the list of approved profiles if corrective action is agreed;

c. providing for a longer maximum certification validity period for certain category 1 metering installations;

d. removing the clearing manager's obligation to provide monthly divergence reports to the Authority;

e. clarifying several aspects of the Code mechanisms for publishing invoices by the clearing manager;

f. improving clearing manager processes by requiring participants to provide certain information to the clearing manager and amending the definition of an event of default;

g. reducing the minimum period before a participant can assume rights and obligations of another participant under the Code;

h. prohibiting installation control points ("ICPs") being connected in series;

i. clarifying obligations on a metering equipment provider ("MEP") to retain and, when ceasing to be an MEP, to pass on metering records for metering installations;

j. clarifying obligations on each approved test house ("ATH") to retain and, when ceasing to be an ATH, pass on metering installation records and metering component records;

k. limiting traders' ability to remove an ICP from a shared unmetered load;

l. clarifying the timeframes for distributors and traders to update the registry when dependent on MEPs updating the registry;

m. enabling the clearing manager to disburse interest from its bank accounts to generators;

n. clarifying that the Authority can require an audit to be completed and submitted under Part 16A if an audit has not been submitted by the previously specified date;

o. clarifying two clauses in the technical codes in Schedule 8.3;

p. enabling distributors and traders to agree to backdate changes in chargeable capacity and installation information;

q. clarifying certain terms and provisions in the three hedge settlement agreement forms in Schedule 14.4 of the Code; and

r. changing the date the default transmission agreement schedules take effect once accepted, amended by Transpower New Zealand Limited, or determined by the Rulings Panel.

The amendment also amends a number of clauses to correct typographical errors and cross-referencing, and to reflect legislative amendments including those introduced by the Electricity Industry Amendment Act 2022.