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 (the Code) comes into force immediately following the time that the Electricity Industry Participation Code Amendment (Transmission Pricing Methodology) 2022 comes into force (1 April 2023).

The amendment amends Schedule 12.4 of the Code (the Transmission Pricing Methodology) to correct a drafting error in the formula for calculating a load customer's residual charge adjustment factor (RCAF).

Pursuant to section 40 of the Electricity Industry Act 2010, the Authority considers that it is necessary or desirable in the public interest that the amendment be made urgently to provide certainty about how the RCAF is calculated from the date the new Transmission Pricing Methodology comes into force (1 April 2023).

More information about the amendments is available on the Electricity Authority's website

https://www.ea.govt.nz/development/work-programme/pricing-cost-allocation/transmission-pricing-review/development/