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 15 May 2025.

The amendment amends Part 1, and subpart 5A of Part 13 of the Code which relates to spot price risk disclosure statements, as part of the Authority’s Code amendment omnibus number five to:

(a) add a purpose clause to help participants and others understand the purpose of the spot price risk disclosure regime; and

(b) extend the period a spot price risk disclosure statement must cover from one quarter to 12 quarters; and

(c) require disclosure of actual cover ratios for disclosing participants with explicit risk management policies; and

(d) include additional requirements on the board of a disclosing participant to certify that the disclosing participant has complied with the spot price risk disclosure statement requirements and that the board has oversight of any risk management policy the disclosing participant has in respect of its exposure to the wholesale market.

This amendment also amends Schedule 12A.4, Appendix A, clause 5.3 of the Code to correct an error in clause 22 of the Electricity Industry Participation Code Amendment (Code Review Programme) 2025 (the Code Review Programme 2025), which meant that the amendments the Authority intended to make to Schedule 12A.4 in the Code Review Programme 2025 were not all made. With this amendment, the necessary changes will have been made to clarify the default distributor agreement template in Schedule 12A.4 of the Code to permit sharing of load control between distributors and other parties, and that the parties’ agreed protocol must allow for both parties to share control over the same load and must be the same (or similar) for all traders.