This amendment to the Electricity Industry Participation Code 2010 comes into force on 1 July 2026.

The amendment clarifies aspects of the definition of a materially large contract (MLC) in Part 13 of the Code, including to make clear that it excludes bilateral contracts where the final price is at least the same as the spot price or an equivalent exchange-traded derivative or derivatives, and to adequately account for new intermittent generation when assessing whether a contract meets the MLC threshold.