This amendment to the Electricity Industry Participation Code 2010 (Code) comes into force on 20 May 2020 and expires on 20 February 2021.

The amendment makes changes to Part 12A of the Code to:

(a) provide for qualifying traders (which meet specified criteria, including in relation to facing liquidity problems as a result of the COVID-19 pandemic) to have an additional 60 days to pay amounts for the provision of distribution services under their agreements with the following distributors:

(i) Orion New Zealand Limited;

(ii) Powerco Limited;

(iii) Unison Networks Limited;

(iv) Vector Limited;

(v) Wellington Electricity Lines Limited; and

(vi) WEL Networks Limited; and

(b) restrict the ability of all distributors to change the prudential security required from the qualifying traders during the period that the changes are in force.