This amendment to the Electricity Industry Participation Code 2010 (Code) comes into force on 3 February 2020.

The amendment inserts a new subpart 5B of Part 13 into the Code and new definitions into Part 1 of the Code. The new subpart describes a scheme that, if triggered into effect 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 Contact Energy Limited, Genesis Energy Limited, Mercury NZ Limited and / or Meridian Energy Limited if their respective actions trigger the application of the scheme to them.