Electricity Industry Participation Code 2010

Act means the Electricity Industry Act 2010

active energy means the integration over time of the product of voltage, current and the cosine of the phase angle between them, and which is normally measured in kilowatt hours (kWh)

active meter means a meter used for the measurement of active energy

active power means the product of voltage, current and the cosine of the phase angle between them, and which is normally measured in kilowatts (kW)

additional customer compensation scheme means a scheme operated by a retailer under clause 9.26, in addition to the retailer’s default customer compensation scheme

adjustment means, for the purposes of the definitions of error compensation, loss compensation, and Part 10, an operation or process intended to reduce the differences between the values indicated by an instrument and the values realised by a reference standard or working standard to within a predetermined tolerance, and adjust and adjusted have corresponding meanings

adjustment clause means a clause in a risk management contract under which the price or prices of a specified volume of electricity may be adjusted, including an adjustment relating to the Consumer Price Index, the Producers Price Index or any other index

administrative cost means, in relation to an ancillary service, the significant costs that are incurred by the system operator in relation to the development of ancillary service provision, that are specifically attributable to an ancillary service, and that have been agreed to by the Authority and the system operator

allocable cost has the meaning set out in clauses 8.55 to 8.58

alternative agreement has the meaning given to it by clauses 8(1) and 8(2) of Schedule 12A.1

alternative ancillary service arrangement means an arrangement between a participant and another participant or other person, or an arrangement involving only a participant, which is authorised by the system operator in accordance with clause 8.48

ancillary service means black start, over frequency reserve, frequency keeping, instantaneous reserve or voltage support

ancillary service agent means a person who provides an ancillary service

ancillary service arrangement means a contract between the system operator and an ancillary service agent for the procurement of ancillary services in accordance with clause 8.45

annual consumption list [Revoked]

applications layer means a part of a metering installation used for a function that is not performed by the metrology layer

approved calibration laboratory means the Measurement Standards Laboratory of New Zealand, or a calibration laboratory that has been accredited under the Testing Laboratory Registration Act 1972 to ISO 17025, or an international laboratory that has been recognised by the Chief Metrologist for the specific calibration required

approved forecast means a forecast issued by the approved forecast provider in respect of an intermittent generating station for a trading period, and made available to an intermittent generator, in a format and manner as prescribed by the Authority from time to time

approved forecast provider means the provider of forecast services as prescribed from time to time by the Authority

approved investment means—

• (a) an investment approved by the Electricity Commission under section III of part F of the rules before this Code came into force; or
• (b) an investment approved by the Commerce Commission under section 54R of the Commerce Act 1986; or
• (c) an investment that is permitted under an input methodology determined by the Commerce Commission under section 54S of the Commerce Act 1986

approved system means the system or systems required to convey information between persons in accordance with this Code, as may be approved from time to time by the Authority

approved test house means a facility that has been approved by the Authority in accordance with Part 10 to do one or more of the following:

• (a) calibrate metering installations or metering components
• (b) certify metering installations or metering components

approved test laboratory means a test laboratory that has been accredited under the Standards and Accreditation Act 2015 to ISO 17025 for the specific test required

asset means equipment or plant that is connected to or forms part of the grid and, in the case of Part 8, includes equipment or plant that is intended to become connected to the grid and equipment or plant of an embedded generator

asset capability statement means a statement of capability and operational limitations that applies to specific assets during the normal and abnormal conditions that may arise on the grid, provided to the system operator in accordance with clause 2(5) of Technical Code A of Schedule 8.3

asset owner means a participant who owns an asset used for the generation or conveyance of electricity and a person who operates such asset and, in the case of Part 8, includes a consumer with a point of connection to the grid

asset owner performance obligations and AOPO means a performance obligation specified in subpart 2 of Part 8 that an asset owner must comply with so that the system operator can plan to comply and comply with its principal performance obligations

associated equipment, for the purposes of the definition of distribution network and Part 6, means any equipment that is used, or designed or intended for use, in relation to any works or consumer installation, if such use is for construction, maintenance, or safety purposes and not for purposes that relate directly to the generation, conversion, transformation, conveyance, or use of electricity

assumed co-efficient of variation [Revoked]

ASX [Revoked]

ASX NZ electricity future [Revoked]

at risk HVDC transfer means the quantity of MWh for each trading period calculated in accordance with Tables 1 and 2, where—

INJ_HVDCHAYt is the electricity injected from the HVDC link into the North Island grid assets at the North Island HVDC injection point in trading period t; and

INJ_HVDCBENt is the electricity injected from the HVDC link into the South Island grid assets at the South Island HVDC injection point in trading period t

ATH means a person who is approved under Schedule 10.3 to operate an approved test house

auction means a must-run dispatch auction conducted by the clearing manager under subpart 3 of Part 13

auction bid means a bid made for an auction under clauses 13.117 to 13.130

auction revenue means, for a generator, the amount owing by the generator in accordance with clause 13.112(2) and, for a purchaser, the amount owing to the purchaser in accordance with clause 13.111

auction right means the right (but not the obligation) to offer for sale a specified quantity of electricity to the clearing manager at 0 price in accordance with clause 13.116(1)

audit means a process of inspection of the facilities, processes, procedures, and other relevant items, to confirm compliance with this Code, and audited has a corresponding meaning

auditor means,—

• (a) for the purposes of Parts 10, 11, 15 and 16A—
  • (i) a person approved or appointed by the Authority to carry out an audit; or
  • (ii) the Authority, if the Authority carries out an audit itself; and
• (b) for all other Parts of this Code, a person carrying out an audit

AUFLS technical requirements report means the AUFLS technical requirements report that is incorporated by reference in this Code under clause 2 of Schedule 8.6

Authority has the meaning given to it by section 5 of the Act

automatic control plant means any hydro generating plant that has a pre-programmed generation profile and an automatic override if uncontrollable water inflows change

automatic under-frequency load shedding means automatic shedding of electrical load when frequency falls below the relevant pre-set frequency, or falls at a rate, specified by the system operator in the AUFLS technical requirements report or in clause 7(6) and 7(6A) of Technical Code B of Schedule 8.3

availability cost means a cost (other than an administrative cost), incurred by the system operator in purchasing instantaneous reserve and providing that instantaneous reserve for a trading period, and includes—

• (a) payments made by the system operator for that trading period under contracts that secure the availability of instantaneous reserves; and
• (b) the annual and variable costs (including any constrained-on costs) incurred by the system operator under any other contracts allocated by the system operator to that trading period; less
• (c) the costs of instantaneous reserves procured as a direct result of a generator being granted a dispensation under clause 8.31(1); and
• (d) instantaneous reserve constrained on compensation calculated in accordance with clause 13.212(6)

back office means a part of an interrogation system—

• (a) that sends or receives information to or from a metering installation; and
• (b) stores the information in a form that can be made available at the services access interface to another person

back-up metering information [Revoked]

back up protection system means a protection system—

• (a) that electrically disconnects faulted assets from the grid because a main protection system or a circuit breaker has failed to electrically disconnect a faulted asset from the grid in the allocated time; and
• (b) that may electrically disconnect non-faulted assets as well as a faulted asset

balancing area means, in relation to any particular ICP,—

• (a) the embedded network; or
• (b) that part of the relevant local network owned by 1 network owner— having 1 or more NSPs, to which that ICP is electrically connected from time to time under normal circumstances

bank means a registered bank within the meaning of the Reserve Bank of New Zealand Act 1989 that is carrying on in New Zealand the business of banking

bank bill bid rate means the rate per annum (rounded upwards to 2 decimal places) displayed at or about 10.45am on the Reuters Screen on page BKBM (or its successor or equivalent page) on the relevant date as the bank bill “settlement” bid rate for bank bills having a tenor of 1 month, provided that if such a rate is not available, bank bill bid rate means the rate determined by the clearing manager to be the nearest practicable equivalent

base case means a base case published by the Authority under clause 13.236D

benchmark agreement [Revoked]

benefit to the public means public benefit net of any costs and detriments, including those detriments associated with a lessening of competition as those concepts are applied under the Commerce Act 1986

bid,—

• (a) means—
  • (i) a nominated bid:
  • (ii) a difference bid; and
• (b) includes a bid revised in accordance with clause 13.19A or 13.19B
• (c) [Revoked]

bid-ask spread means—

• (a) if expressed as a dollar value, the dollar value that represents the difference in price between a quote to buy a NZ electricity future and a quote to sell a NZ electricity future of the same type on the same exchange; or
• (b) if expressed as a percentage, the percentage calculated by dividing the difference between the price of a quote to buy a NZ electricity future and the price of a quote to sell a NZ electricity future of the same type on the same exchange by the price of the quote to sell a NZ electricity future.

binary load, in relation to a nominated dispatch bid, means a quantity of electricity that corresponds to the MW specified in one or more entire price bands of the relevant nominated dispatch bid

binding constraint means a constraint that is likely to cause a significant difference between the price at 1 node and the price at another node

billing period means a period of 1 calendar month

black start means an ancillary service required to enable a generating unit isolated from the grid to be—

• (a) made live, as defined in the Electricity (Safety) Regulations 2010; and
• (b) electrically connected to the grid

block dispatch group means a group of generating stations on 1 continuous water course, which is the subject of an agreement between the system operator and a generator under clause 13.60

block security constraint means any of the following:

• (a) a security constraint as determined in accordance with the policy statement and applied by the system operator to a generating unit or generating station to provide voltage support or frequency keeping:
• (b) a limitation in grid capacity that:
  • (i) is a limitation in the capacity of the grid to convey electricity between either:
    • (A) generating stations constituting a block dispatch group; or
    • (B) generating stations constituting a block dispatch group and the grid; and
  • (ii) arises because of either—
    • (A) a limitation in the offered capacity of the grid; or
    • (B) a security constraint as determined by the system operator in accordance with the policy statement.

bona fide physical reason includes,—

• (a) in relation to a generator, or a purchaser, or an ancillary service agent or a grid owner, a situation where personnel or plant safety is at risk; and
• (b) in relation to a generator or an ancillary service agent providing generation reserve or frequency keeping,—
  • (i) a reasonably unforeseeable change in generating capability, reserve capability, or frequency keeping capability (as the case may be) from an item of generating plant that is the subject of an existing offer, reserve offer, or offer to provide frequency keeping by that generator or ancillary service agent; or
  • (ii) a reasonably unforeseeable change in the level of expected uncontrollable water inflows into the head pond of a hydro station that is the subject of an existing offer, reserve offer, or offer to provide frequency keeping by that generator or ancillary service agent; or
  • (iii) a reasonably unforeseeable change in circumstances such that the generator or ancillary service agent will breach any consent held by it under the Resource Management Act 1991; or
  • (iv) a reasonably unforeseeable physical infeasibility that arises from a price-responsive schedule, a non-response schedule, or a dispatch schedule; and
• (ba) in relation to an intermittent generator, a situation in which—
  • (i) variable resource conditions prevent the intermittent generator from generating at the level expected; or
  • (ii) the intermittent generator reduces the output of an intermittent generating station—
    • (A) to prevent an un-modelled transmission asset from exceeding its ratings; or
    • (B) in order to comply with an automated signal to maintain frequency; or
    • (C) in light of reasonably unforeseeable circumstances that require the output of the intermittent generating station to be reduced to enable the intermittent generator to comply with the conditions of a resource consent or other law; or
    • (D) in anticipation of the expected onset of a weather event that would be likely to cause the intermittent generating station's asset protection systems to shut down assets forming part of the intermittent generating station; and
• (c) in relation to a purchaser, or an ancillary service agent providing interruptible load,—
  • (i) a reasonably unforeseeable full or partial loss of demand or reserve capability (as the case may be) at a grid exit point that is the subject of an existing bid or reserve offer by the purchaser or the ancillary service agent; or
  • (ii) a reasonably unforeseeable change in circumstances such that the purchaser or ancillary service agent will breach any consent held by it under the Resource Management Act 1991; or
  • (iii) a reasonably unforeseeable full or partial loss of generating capability from an item of generating plant owned by, or the subject of a supply contract with, that purchaser during the relevant trading periods; and
• (d) in relation to a grid owner, a reasonably unforeseeable loss of full or partial capacity on transmission plant forming part of the grid

bound [Revoked]

branch means an electrical link between—

(a) 2 or more nodes; or

(b) a node and a point of connection to the grid

business means, except in Part 6A, the business carried out as a participant

business day means,—

• (a) for the purposes of Part 6, any day of the week other than Saturday, Sunday, or a public holiday within the meaning of the Holidays Act 2003; and
• (b) for the rest of the Code, any day of the week except Saturdays, Sundays, national holidays, the day observed as Wellington Anniversary Day, and any other day from time to time declared by the Authority not to be a business day by notice to each registered participant

buyer, for the purposes of subpart 5 and subpart 7 of Part 13, means—

• (a) in respect of a contract for differences, the fixed-price payer, being the party obliged to make payments at a fixed price from time to time during the term of the contract; or
• (b) in respect of a fixed-price physical supply contract, the purchaser of electricity; or
• (c) in respect of an options contract, either—
  • (i) the party paying the premium; or
  • (ii) if there is no premium, the party who agrees to be the buyer for the purposes of subpart 5 or subpart 7 (as applicable) of Part 13; or
  • (iii) if neither party agrees to be the buyer, the party whose name is the first alphabetically; or
• (ca) for the purposes of subpart 5 of Part 13, in respect of a contract prescribed by the Authority under clause 13.219B as a risk management contract, either—
  • (i) the party specified as the buyer in the contract; or
  • (ii) if neither party is specified as the buyer, the party whose name is the first alphabetically; or
• (d) for the purposes of subpart 7 of Part 13, in respect of any other contract, the party consuming the electricity that the contract relates to

calibration means the set of operations that establishes, under specified conditions, the relationship between the values indicated by the measuring system and the corresponding values of a quantity realised by a reference standard or working standard, and calibrate and calibrated have corresponding meanings

calibration report means a report that contains the results of all calibration tests carried out on—

• (a) a metering installation; or
• (b) a metering component in a metering installation; or
• (c) a working standard

call [Revoked]

capacity [Revoked]

capacity reserve means—

• (a) demand that can be decreased for the purpose of adjusting a constraint; or
• (b) generation that can be increased or decreased for the purpose of adjusting a constraint

cash deposit means the cash deposited in cleared funds by a participant in accordance with clause 2 of Schedule 14A.1, and includes any interest under clause 14A.14 that has not been paid out

cash deposit accounts means the trust accounts established by the clearing manager in accordance with clause 14A.11

cash interest rate [Revoked]

category 1 metering installation means a metering installation that has the required defining characteristics for a metering installation of that category in Table 1 of Schedule 10.1

category 2 metering installation means a metering installation that has the required defining characteristics for a metering installation of that category in Table 1 of Schedule 10.1

causer, in relation to an under-frequency event, means—

• (a) if the under-frequency event is caused by an interruption to or reduction of electricity supply, or an increase in electricity demand, from a single participant’s asset or assets, the participant, unless another participant’s act or omission or property causes the interruption to or reduction of electricity supply or the increase in electricity demand, in which case the other participant is the causer; or
• (b) if the under-frequency event is caused by more than 1 interruption to or reduction of electricity supply or increase in electricity demand, the participant who, in accordance with paragraph (a), would be the causer of the under-frequency event if it had been caused by the first in time of the interruption to or reduction of electricity supply or increase in electricity demand; but
• (c) if an interruption to or reduction of electricity supply, or an increase in electricity demand, occurs in order to comply with this Code, the interruption to or reduction of electricity supply or the increase in electricity demand must be disregarded for the purposes of determining the causer of the under-frequency event.

centralised data set [Revoked]

certification means—

• (a) if applied to a metering installation, confirmation that the metering installation meets the requirements of this Code; and
• (b) if applied to a metering component, confirmation that the metering component meets the requirements of this Code; and
• (c) if applied to a reconciliation participant, confirmation that that reconciliation participant has met the requirements of Schedule 15.1

certification report means a report that contains—

• (a) the calibration report or calibration reports:
• (b) all other information relevant to the certification of a metering installation or a metering component required under Part 10

certification sticker means a sticker that is valid for a specific period and that is attached—

• (a) to a metering installation, confirming that the metering installation has been certified by an ATH under Schedule 10.7; or
• (b) to a metering component, confirming that the metering component has been certified by an ATH under Schedule 10.8

certified means having achieved certification

certify means to carry out a certification

chargeable capacity means the capacity that the distributor may charge for, but that may not be the actual installed capacity at the relevant ICP

check metering information [Revoked]

circuit branch means a branch that is not a transformer branch or the HVDC link

circuit breaker means a switching device capable of making, carrying and breaking currents under normal circuit conditions, and capable of making, carrying for a specified time and breaking currents under specified abnormal conditions (such as a short circuit)

circuit breaker failure protection system means a protection system that—

• (a) operates because a circuit breaker has failed to electrically disconnect a faulted asset from the grid in the allocated time; and
• (b) may electrically disconnect non-faulted assets from the grid as well as a faulted asset

class A approved test house [Revoked]

class A ATH means an ATH who is approved under clause 3 of Schedule 10.3

class B approved test house [Revoked]

class B ATH means an ATH who is approved under clause 4 of Schedule 10.3

cleared funds, in relation to a business day, means funds that are immediately available for disbursement on that day

clearing auction price means the lowest successful price bid at an auction in dollars per MW per half hour

clearing manager has the meaning given to it in section 5 of the Act

Code information means all information that is supplied by 1 participant to another participant, or group of participants, under this Code (other than excluded Code information and information that is supplied under Parts 2 to 6 and 9 of this Code)

code of practice means a code of practice issued under this Code

co-efficient of variation means the ratio of the standard deviation to the mean of the distribution for the random variable under consideration

co-generator [Revoked]

collateral term means a term in a default distributor agreement that is not—

• (a) a core term; or
• (b) an operational term; or
• (c) [Revoked]
• (d) a term required in accordance with clause 3(1)(d) of Schedule 12A.4

commissioning means to verify the correct operation of—

• (a) an asset; or
• (b) a point of connection; or
• (c) metering equipment installed in a metering installation,—

and commissioned has a corresponding meaning

commissioning report [Revoked]

committed projects means transmission augmentation projects and non-transmission projects that are reasonably likely to proceed in a similar timeframe for which the assessment of costs and benefits under a net benefits test set out in Part 12 is undertaken, and in relation to which either—

• (a) all of the following are satisfied:
  • (i) the proponent has obtained all required planning consents, construction approvals, and licences, and fulfilled any other regulatory requirement that must be met before commencing construction:
  • (ii) construction has commenced or a firm commencement date for construction has been set:
  • (iii) the proponent has acquired or executed an agreement to acquire land (or commenced legal proceedings to acquire land), or has executed an agreement for the leasing of land, for the purposes of construction:
  • (iv) contracts for supply and construction of the major components of the plant and equipment (including any generating units, turbines, boilers, transmission towers, conductors, termination station equipment) have been executed (i.e. all the necessary formal legal requirements have been observed to make the contract valid and complete):
  • (v) contracts for the financing of the project, including any debt plans, have been executed (i.e. all the necessary formal legal requirements have been observed to make the contract valid and complete); or
• (b) in the case of transmission augmentation projects, the project is an approved investment

common quality means those elements of quality of electricity conveyed across the grid that cannot be technically or commercially isolated to an identifiable person or group of persons

communication means, for the purposes of Part 10, the electronic transfer of information, or instructions, to or from a metering installation

communication equipment means a device, used for communication, in—

• (a) a metering installation; or
• (b) a back office

comparative recertification means recertification of a category 2 metering installation under clause 12(3) of Schedule 10.7

compensation factor means any of the following factors used to compensate for errors, losses, or ratios within a metering installation that are required to be applied to raw meter data:

• (a) error compensation:
• (b) loss compensation:
• (c) ratio compensation

To avoid doubt, the raw meter data from a metering installation may require more than one compensation factor, if the relevant types of compensation are required.

complete [Revoked]

confidential information, for the purposes of Schedule 6.2, means all data and other information of a confidential nature provided by 1 party (A) to another party (B) under the regulated terms, but excludes—

• (a) information known to B before the date it was provided by B to A and that was not obtained directly or indirectly from A; and
• (b) information obtained bona fide from another person who is in lawful possession of the information and who did not acquire the information directly or indirectly from A under an obligation of confidence

conforming GXP means a GXP that—

• (a) has been determined by the Authority to be a conforming GXP under clause 13.27A or 13.27B(4); or
• (b) is deemed to be a conforming GXP under clause 13.27F

congestion management policy means the policies, clauses, or conditions referred to in clause 6.3(2)(d)

connect [Revoked]

connected asset owner means a direct consumer, or a distributor in its capacity as the owner or operator of a local network

connection and operation standards, in relation to a distributor or distributed generation,—

• (a) means requirements, as amended from time to time by the distributor, that—
  • (i) are set out in written policies and standards of the distributor; and
  • (ii) relate to connecting distributed generation to a distribution network or to a consumer installation that is connected to a distribution network, and the operation of the distribution network, including requirements relating to the planning, design, construction, testing, inspection, and operation of distributed generation that is, or is proposed to be, connected; and
  • (iii) are made publicly available in accordance with clause 6.3; and
  • (iv) reflect, or are consistent with, reasonable and prudent operating practice; and
• (b) includes the following, as amended from time to time by the distributor:
  • (i) the distributor's congestion management policy, as referred to in clause 6.3(2)(d); and
  • (ii) the distributor's emergency response policies; and
  • (iii) the distributor's safety standards; and
• (c) until 1 September 2026, may include the distributor’s policies for specifying available maximum export power amongst categories of network users, a maximum export power threshold for applications under Part 1A of Schedule 6.1, and the methodology used to determine that threshold

connection asset, for the purposes of subparts 2, 6 and 7 of Part 12, has the meaning set out in the transmission pricing methodology

Connection Code means the Connection Code that is included in the default transmission agreement template as Schedule 8

connection location means a substation or other location at which lines, equipment and plant owned or managed by a designated transmission customer that are directly related to a point of connection, and that are used for the consumption, conveyance, or generation of electricity, are directly connected to the grid

constrained off amounts means the amounts calculated by the clearing manager under clauses 13.194 to 13.196

constrained off compensation means either—

• (a) constrained off amounts owing to a dispatched purchaser under clause 13.201A; or
• (b) constrained off amounts owing to the clearing manager under clause 13.201A by purchasers

constrained off situation means a situation as defined in clause 13.192

constrained on amounts means the amounts calculated by the clearing manager under clauses 13.204 and 13.205

constrained on compensation means, as the case may be,—

• (a) the constrained on amounts owing to—
  • (i) a generator under clause 13.212(1)(a); or
  • (ii) an ancillary service agent under clause 13.212(1)(a); or
  • (iii) a dispatched purchaser under clause 13.212(1)(b); or
• (b) the constrained on amounts owing by—
  • (i) the system operator under clause 13.212(2); or
  • (ii) a purchaser under clause 13.212(5)

constrained on situation means a situation as defined in clause 13.202

constraint means a limitation in the capacity of the grid to convey electricity caused by limitations in capability of available assets forming the grid or limitations in the performance of the integrated power system

constraint price [Revoked]

construct, for the purposes of the definition of associated equipment and Part 6, includes to erect, to lay, and to place, and construction has a corresponding meaning

consumer means a person who is supplied electricity for consumption, and includes a distributor, a retailer or a generator if the distributor, or the retailer or the generator is supplied with electricity for its own consumption

consumer installation, for the purposes of the definition of associated equipment and Part 6, means—

• (a) all fittings that are part of a system for conveying electricity from a consumer’s point of supply to any point from which electricity conveyed through that system may be consumed; and
• (b) includes any fittings that are used, or designed or intended for use, by any person in, or in relation to, the generation of electricity—
  • (i) for that person’s use and not for supply to any other person; or
  • (ii) so that electricity can be injected into a distribution network; but
• (c) does not include any appliance that uses, or is designed or intended to use, electricity, whether or not it also uses, or is designed or intended to use, any other form of energy

consumption information means the information describing the quantity of electricity conveyed during the period for which the information is required, which may be directly measured or calculated from information obtained from a metering installation, or calculated in accordance with this Code

consumption pattern means, for the purposes of this Part and Schedule 15.5, the shape of the half hourly consumption

consumption period means a calendar month during which electricity is supplied to consumers (and conversely produced by generators)

contract for differences, for the purposes of subpart 5 and subpart 7 of Part 13, means a financial derivative contract—

• (a) under which 1 or both parties makes or may make a payment to the other party; and
• (b) in which the payment to be made depends on, or is derived from, the price of a quantity of electricity at a particular time; and
• (c) that may provide a means for the risk to 1 or both parties of an increase or decrease in the price of electricity to be reduced or eliminated; and
• (d) that relates to a quantity of electricity that equals or exceeds 0.1 MW of electricity.

contract price [Revoked]

contract price schedule [Revoked]

contract specifications means specifications prescribing the specific terms of, and terms of trading in, each class of contract that may from time to time be traded on a market under this Code

control device means a device in a metering installation that controls either or both of the following:

• (a) electricity—
  • (i) conveyed through the metering installation; and
  • (ii) used to satisfy controllable load:
• (b) a meter register in the metering installation

controllable load, for the purposes of Part 8, means the quantity of resources (in MW) that a connected asset owner estimates will be available for use by the system operator under a grid emergency. The available controllable load must exclude—

• (a) resources a connected asset owner intends to use for its own network demand management purposes; and
• (b) any resources offered into the instantaneous reserves market; and
• (c) any resources bid or offered on behalf of a dispatch-capable load station or dispatch notification purchaser or dispatch notification generator

controller means,—

• (a) in relation to a company,—
  • (i) any person in accordance with whose directions and instructions the persons occupying the position of directors of the company are accustomed to act (but disregarding advice given in a professional capacity); or
  • (ii) any person who is entitled to exercise, or control the exercise of, 50% or more of the voting power at any general meeting of the company or of another company of which the company is a subsidiary; and
• (b) in relation to an unincorporated body of persons,—
  • (i) any person in accordance with whose directions and instructions the officers of the body are accustomed to act (but disregarding advice given in a professional capacity); or
  • (ii) any person who is entitled to exercise, or control the exercise of, 50% or more of the voting power on any resolution of the body;
• (c) in relation to any person, any person who has the power to appoint or remove a majority of the participants of the governing body of that person or otherwise controls or has the power to control the affairs or policies of that person,—

and control and controlled have corresponding meanings

control room means the location at which asset owners have facilities to receive operational instructions from the system operator and to act on those instructions

control system means equipment that adjusts the output voltage, frequency, active power or reactive power (as the case may be) of an asset in response to certain aspects of common quality such as voltage, frequency, active power or reactive power

core grid means the assets that form part of the core grid as specified in the core grid determination

core grid determination means the determination specifying the assets forming part of the core grid, developed in accordance with clauses 12.63 to 12.69, including variations

core term means a term set out in a default distributor agreement template for inclusion in a default distributor agreement in accordance with clause 3(1)(a) of Schedule 12A.4

customer [Revoked]

customer compensation scheme means a default customer compensation scheme or an additional customer compensation scheme

data logger [Revoked]

data storage device means a device in a metering installation, whether or not integral to the meter, that—

• (a) electronically stores data and event logs used to provide information for the purposes of Part 15; and
• (b) makes the data and event logs available during an interrogation

declaration date means the date, nominated by the profile applicant, on which the Authority must, for a particular profile, give written notice to every registered participant of the information set out in clause 13 of Schedule 15.5 for that profile

decommissioning means—

• (a) the permanent removal from service of—
  • (i) an asset; or
  • (ii) a point of connection; or
  • (iii) a metering installation associated with a point of connection; or
• (b) for the purposes of Parts 11 and 15, the permanent removal of a point of connection by—
  • (i) permanently removing an electrical facility associated with the point of connection; or
  • (ii) changing the allocation of electrical loads between points of connection with the effect of making the point of connection obsolete; or
  • (iii) in the case of a distributor-only ICP for an embedded network, the embedded network ceasing to exist

and decommission and decommissioned have corresponding meanings

de-energisation [Revoked]

de-energise [Revoked]

default customer compensation scheme means a scheme that complies with clause 9.24

default distributor agreement means an agreement that a distributor is required to develop in accordance with clauses 3 to 11 of Schedule 12A.4, and which includes—

• (a) core terms; and
• (b) operational terms; and
• (c) [Revoked]
• (d) collateral terms (if any); and
• (e) any terms required in accordance with clause 3(1)(d) of Schedule 12A.4

default distributor agreement template means a template agreement set out in an appendix to Schedule 12A.4

default interest rate the bank bill bid rate plus 5% per annum

default transmission agreement means a binding contract between Transpower and a designated transmission customer for the connection to and/or use of the grid, that applies under clause 12.10 or 12.13 and which is based on the default transmission agreement template

default transmission agreement template means the template agreement set out in Schedule 12.6

demand means the rate of consumption of electrical energy

designated transmission customers means participants who are required to enter into transmission agreements with Transpower under subpart 2 of Part 12

difference bid means the information that a purchaser submits to the system operator under clause 13.7AA to indicate a reasonable estimate of an increase or decrease in the purchaser's usual non-dispatch-capable load purchased at a conforming GXP

direct consumer means a consumer with a point of connection to the grid

direct purchaser means a consumer who purchases, or agrees to purchase, electricity directly from the clearing manager for its own consumption at a point of connection

disclosed [Revoked]

• disclosing participant means—
• (a) a person who consumes electricity that is conveyed to the person directly from the national grid; or
• (b) a person who buys electricity from the clearing manager; and
• (c) includes a person who will, in the next quarter (being a quarter beginning 1 January, 1 April, 1 July, or 1 October), meet the description in paragraph (a) or (b), unless paragraph (d) would apply in that next quarter; but
• (d) excludes an embedded generator where—
  • (i) the embedded generator is not a retailer and does not intend to become a retailer during the next 3 calendar months; and
  • (ii) the electricity purchased by the embedded generator from the clearing manager during the previous 3 calendar months, and expected to be purchased in the next 3 calendar months, is purchased only for its own use to maintain services for the embedded generating station or embedded generating stations that the embedded generator owns or operates

disclosure information, in relation to a participant, means information that—

• (a) is about the participant; and
• (b) is held by the participant; and
• (c) the participant expects, or ought reasonably to expect, if made available to the public, will, or is likely to, have a material impact on prices in the wholesale market

disconnected [Revoked]

discretionary demand [Expired]

dispatch means the process of—

• (a) pre-dispatch scheduling, to match expected supply with expected demand, and to allocate ancillary service offers and transmission offers to match expected grid conditions; and
• (b) rescheduling to meet forecast demand; and
• (c) issuing instructions and notifications based on the dispatch schedule and the real- time conditions to manage resources to meet the actual demand,—

and dispatching and dispatched have a corresponding meaning

dispatch arc flows [Revoked]

dispatch group constraint arc flows [Revoked]

dispatch instruction means an instruction issued by the system operator under clause 13.72(1)(a)

dispatch marginal location factor means the factor that is determined by dividing the dispatch price at any grid exit point or grid injection point by the dispatch price at the relevant reference point

dispatch notification means a notification to a dispatch notification purchaser or dispatch notification generator made by the system operator under clause 13.72(1)(b)

dispatch notification generator means a generator that is approved by the system operator under clause 13.3F to be a dispatch notification generator

dispatch notification purchaser means for the purposes of Part 1 and Part 13 only, a dispatchable load purchaser that is approved by the system operator under Schedule 13.8 to operate a dispatch-capable load station as a dispatch notification purchaser. For the purpose of this definition and for the purpose of all references to purchaser in relation to a dispatch notification purchaser, purchaser includes a load aggregator

dispatch objective means the objective defined in clause 13.57

dispatch price means a price in dollars and cents for each grid injection point, each grid exit point, and each reference point, as specified in the dispatch schedule

dispatch prices [Revoked]

dispatch quantities [Revoked]

dispatch reserve price means a price in dollars and cents for fast instantaneous reserve and sustained instantaneous reserve for each island, as specified in the dispatch schedule

dispatch schedule means the schedule produced by the system operator under clause 13.69A

dispatchable load information means the volume information—

• (a) of each dispatch-capable load station for each trading period in a consumption period; and
• (b) that is—
  • (i) prepared under clause 15.5A or 15.5B; and
  • (ii) aggregated and rounded in accordance with clause 15.5C

dispatchable load purchaser means a purchaser that purchases electricity for a dispatch-capable load station and, for the purposes of Parts 1 and 13 only, includes a dispatch notification purchaser. For clarity, other than in Parts 1 and 13, a dispatch notification purchaser is not a dispatchable load purchaser

dispatch-capable load station means a device or a group of devices approved as a dispatch-capable load station under clause 13.3A

dispatch-capable load station identifier means a unique code—

• (a) assigned to a dispatch-capable load station under clause 6(2) of Schedule 13.8; and
• (b) that is used to identify the dispatch-capable load station and the GXP at which nominated bids are to be submitted for that dispatch-capable load station

dispatched purchaser means a dispatchable load purchaser,—

• (a) issued with a dispatch instruction under clause 13.72(1)(a)(iii) for 1 or more dispatch-capable load stations; or
• (b) issued with a dispatch instruction in accordance with backup procedures under clause 13.81 for 1 or more dispatch-capable load stations

dispensation means an exclusion from compliance with an AOPO or technical code granted by the system operator in accordance with the process set out in clauses 8.29 to 8.31

distributed generation means generating plant that is connected, or that a distributed generator proposes to connect, to a distribution network or to a consumer installation that is connected to a distribution network, but does not include—

• (a) generating plant that is connected, or that a participant proposes to connect, to a distribution network and that is operated by a distributor for the purpose of maintaining or restoring the provision of electricity to part or all of the distributor’s distribution network—
  • (i) as a result of a planned distribution network outage; or
  • (ii) as a result of an unplanned distribution network outage; or
  • (iii) during a period when the distribution network capacity would otherwise be exceeded on part or all of the distribution network; or
• (b) generating plant that is only momentarily synchronised, or that a participant proposes only to momentarily synchronise, with the distribution network for the purpose of switching operations to start or stop the generating plant

distributed generator, for the purposes of Part 6, means a person who owns or operates, or intends to own or operate, distributed generation

distributed unmetered load means unmetered load with a single profile supplied across more than 1 point of connection to either 1 customer of a retailer or to 1 direct purchaser

distribution has the meaning given to it by section 5 of the Act

distribution network means the electricity lines, and associated equipment, owned or operated by a distributor

distribution network capacity means the capacity of a distribution network to convey electricity under a range of load and generation conditions in accordance with reasonable and prudent operating practice

distributor has the meaning given to it by section 5 of the Act

distributor agreement means an agreement between a distributor and a participant trading on, connected to, or using the distributor's network or equipment connected to the distributor's network

distributor installation details means any information, additional to price category and chargeable capacity, that may be used to calculate line charges applicable to an ICP

distributor kvar reference node means a notional node that represents a group of grid exit points within a zone for which a distributor nominates peak demand in kvar, and for which the individual kvar quantities measured at the individual grid exit points within the group are aggregated for voltage support charging purposes, as approved by the system operator (such approval not to be unreasonably withheld)

document, for the purposes of paragraph (b) of the definition of publish, and Parts 2 and 6, has the meaning given to it in section 2(1) of the Official Information Act 1982

domestic consumer [Revoked]

draft policy statement [Revoked]

draft procurement plan [Revoked]

dynamic reactive power compensation device means a device, other than a generating unit or synchronous condenser, that normally is provided specifically to inject or absorb reactive power and which includes static synchronous compensators, static synchronous series compensators, thyristor controlled series devices and thyristor controlled shunt devices.

effective date, for the purposes of subpart 5 of Part 13, means the date of the first trading period to which a risk management contract applies

EIEP means an electricity information exchange protocol that sets out standard formats for the exchange or provision of information

EIEP12 [Revoked]

EIE System means an Electricity Information Exchange System being any system prescribed by the Authority under clause 11.32EG

electrical facility means,—

• (a) [revoked]
• (b) all fittings that form part of a system for conveying electricity at any point from an ICP to any point from which electricity conveyed through that system may be consumed (including any fittings that are used or designed or intended for use by any person in, or in relation to, the generation of electricity for that person’s use and not for supply to any other person), but does not include any electrical appliance, —

and electrical facilities has a corresponding meaning

electrically connect means to operate a device so that electricity is able to flow, including through a point of connection, and electrically connected, electrically connecting, electrical connection, and similar phrases have corresponding meanings

electrically disconnect means to operate a device so that electricity is unable to flow, including through a point of connection, and electrically disconnected, electrically disconnecting, electrical disconnection, and similar phrases have corresponding meanings

electricity means electrical energy measured in kilowatt-hours (kWh)

electricity supplied means, for any particular period, the information relating to the quantities of electricity supplied by retailers across points of connection to consumers, sourced directly from the retailer’s financial records, including quantities—

• (a) that are metered or unmetered; and
• (b) supplied through normal customer supply and billing arrangements; and
• (c) supplied under sponsorship arrangements; and
• (d) supplied under any other arrangement

electronic signature has the meaning given to it in section 209 of the Contract and Commercial Law Act 2017

embedded generating station means 1 or more generating units that are directly connected to a local network or an embedded network and that injects into a local network or an embedded network at a single point of injection

embedded generator means a generator who owns or operates 1 or more embedded generating stations

embedded network means equipment that is used, designed or intended for use in, or in connection with, the conveyance of electricity, and that—

• (a) is indirectly connected to the grid through 1 or more other networks; and
• (b) has 1 or more ICP identifiers recorded in the registry as being connected to it

emergency management policy means the emergency management policy that is incorporated by reference in this Code under clause 7.4

EMP departure situation means any situation in which the system operator believes on reasonable grounds that complying with the emergency management policy will not—

• (a) adequately mitigate an emergency situation; or
• (b) minimise risk to public safety or significant damage to assets

end date, for the purposes of subpart 5 of Part 13, means the date of the final trading period to which the risk management contract applies

energisation [Revoked]

energy storage system means all equipment functioning together as a single entity that is able to take electricity from a network, store the energy in another form, and provide injection

equivalence arrangement means an arrangement put in place in accordance with the process set out in clauses 8.29 and 8.30

equivalent day [Revoked]

error claimant [Revoked]

error compensation means the application of a predetermined adjustment or process to the data within or obtained from, a metering component or metering installation in order to correct such data for known errors in any metering component

estimated reading means a value, used in the place of a meter reading, that is—

• (a) created using an estimation algorithm; and
• (b) not a validated meter reading

event charge means the amount calculated under clause 8.64

event date, in relation to an ICP, means the earlier of the following dates:

• (a) the date on which the gaining trader commences trading electricity at the ICP under clauses 1(1), 8(1) or 13(1) of Schedule 11.3:
• (b) the date on which the gaining trader otherwise assumes responsibility under clause 11.18(1) for the ICP

event log means an automatically generated record of activity in a data storage device, that can be extracted or manually read as part of an interrogation

event of default means any event listed in clause 14.41

exceptional circumstances means, for the purposes of Part 15, circumstances in which access to the relevant meter is not achieved despite the reconciliation participant’s best endeavours

exchange means an exchange included in a list published by the Authority on which New Zealand electricity base load futures contracts are available for trade

excluded Code information means information—

• (a) that relates to bids, offers, reserve offers, or any asset capability statement; or
• (b) that is provided to the Authority, any investigator, or the Rulings Panel and that is required to be kept confidential under this Code or the Act; or
• (c) in relation to which the Rulings Panel has prohibited publication or communication

excluded generating station has the meaning set out in clause 8.21(1)

existing assets means transmission assets and non-transmission projects that have been commissioned before, and are in operation at the time of, application of a net benefits tests set out in Part 12. To avoid doubt, an investment in the expansion of generating capacity of an existing generating unit is not an existing asset or part of an existing asset, unless the additional generating capacity associated with the investment has been commissioned before, and is in operation at the time of, the application of the relevant net benefits test

expected interruption costs [Revoked]

expected near-constraint arc flows means the scheduled quantity of energy flow on a transmission line or a transformer, if the energy flow is equal to or greater than 95% of the maximum energy flow limit (in MW) of the transmission line or transformer as set by the system operator in accordance with Schedule 13.3

expected near-group-constraint arc flows means the scheduled quantity of energy flow on a group of transmission lines or a group of transformers or a group of transmission lines and transformers, calculated according to a group constraint formula covering the group, if the scheduled quantity of energy flow is equal to or above 95% of the maximum energy flow limit (in MW) for the group as set by the system operator in accordance with Schedule 13.3

expected unserved energy means a forecast of the aggregate amount by which the demand for electricity exceeds the supply of electricity at each grid exit point as a result of likely planned or unplanned outages of primary transmission equipment

extended emergency situation [Revoked]

export congestion means a situation in which a distribution network is unable to accept electricity exported from distributed generation because the injection of an additional unit of electricity into the distribution network would—

• (a) directly cause a component in the network to operate beyond the component's rated maximum capacity; or
• (b) give rise to an unacceptably high level of voltage at the point of connection between the distribution network and the distributed generation

extended reserve [Revoked]

extended reserve manager [Revoked]

extended reserve procurement notice [Revoked]

extended reserve procurement schedule [Revoked]

extended reserve provider [Revoked]

extended reserve schedule [Revoked]

extended reserve selection methodology [Revoked]

extended reserve technical requirements report [Revoked]

extended reserve technical requirements schedule [Revoked]

fast instantaneous reserve means the increase in generation or reduction in demand (in MW) provided no later than 6 seconds, and measured at 6 seconds, after the start of a “Contingent Event” (as defined in the policy statement) and that is sustained until at least 60 seconds after the start of the “Contingent Event”

final application for the purposes of Part 6, means an application made under clause 15 of Schedule 6.1

final estimate [Revoked]

final marginal location factor means the factor that is determined by dividing the final price at any grid exit point or grid injection point by the final price at the relevant reference point

final price means an interim price that becomes a final price in accordance with clause 13.182A or 13.182B

final reserve price means an interim reserve price that becomes a final reserve price in accordance with clause 13.182A or 13.182B

financial year means, except in Part 6A and Schedule 12.4, the financial year adopted by a participant from time to time, being a 12 month period as a participant determines

fittings [Revoked]

fixed-price physical supply contract means a contract that provides for the physical supply of electricity, if—

• (a) the buyer is reasonably expected to purchase 1 MW or more of electricity on average during the term of the contract (for the purposes of determining whether a contract meets this 1 MW threshold, the total purchases under the contract must be used; and
• (b) the contract allows the buyer to purchase either—
  • (i) variable amounts of electricity linked to actual consumption or generation of electricity at a fixed price or prices; or
  • (ii) a fixed amount of electricity at a fixed price or prices; and
• (c) excludes a contract for the physical supply of electricity, that is generated by an embedded generating station, directly to a consumer

flagged, in relation to a dispatch instruction issued to an intermittent generator, means an indication on the dispatch instruction that it is a dispatch instruction of the kind described in clause 13.73(1A), and flag has a corresponding meaning

floating-price payer means the party obliged to make 1 or more payments, from time to time during the term of a risk management contract, of a floating amount for a quantity of electricity

force majeure clause, for the purposes of subpart 5 of Part 13, a clause in a risk management contract under which some or all obligations may be suspended and/or the risk management contract may terminate due to 1 or more events (not being events specified in a suspension clause) beyond the control of the party and that could not reasonably have been foreseen, including—

• (a) any event or circumstance occasioned by, or in consequence of, any act of God (being an event or circumstance—
  • (i) due to natural causes, directly or indirectly and exclusively without human intervention; and
  • (ii) that could not reasonably have been foreseen or if foreseen, could not reasonably have been resisted); or
• (b) strikes, lockouts, other industrial disturbances, acts of public enemy, wars, blockades, insurrections, riots, epidemics, or civil disturbances; or
• (c) the binding order of any court, government or a local authority beyond the control of the party

force majeure event, for the purposes of Parts 3 and 4,—

• (a) means an event or circumstance beyond the reasonable control of a market operation service provider or ancillary service agent that results in, or causes, the market operation service provider or ancillary service agent to be unable to perform any of its obligations under this Code or the Electricity Industry (Enforcement) Regulations 2010; and
• (b) includes (without limitation)—
  • (i) fire, flood, storm, earthquake, landslide, volcanic eruption, or other act of God; and
  • (ii) explosion or nuclear, biological, or chemical contamination; and
  • (iii) sabotage, terrorism, or act of war (whether declared or not); and
• (c) includes an act or omission by a party to an agreement with a market operation service provider (not being the Authority) or an ancillary service agent only if—
  • (i) the act or omission is a breach of an obligation under the agreement; and
  • (ii) the obligation is in all material respects the same as an obligation in the market operation service provider agreement, or the ancillary service agent's agreement with the system operator; and
  • (iii) the act or omission would have been a force majeure event if it had been an act or omission of the market operation service provider or ancillary service agent and not an act or omission of the party; and
• (d) does not include that a market operation service provider, ancillary service agent, or other person—
  • (i) is unable or unwilling to pay any amount necessary to meet the obligations under this Code or the Electricity Industry (Enforcement) Regulations 2010; or
  • (ii) is unable to pay its debts; or
  • (iii) calls a meeting for the purpose of Part 14 of the Companies Act 1993; or
  • (iv) is adjudicated bankrupt; or
  • (v) in the case of a company, society, or partnership, has a receiver or statutory manager or similar person appointed in respect of it or of all or any of its assets; or
  • (vi) is put into liquidation; and
• (e) does not include an event that could have been prevented by the market operation service provider or ancillary service agent by the exercise of a reasonable standard of care

forecast marginal location factor means the factor that is determined by dividing the forecast price at any grid exit point or grid injection point by the forecast price at the relevant reference point

forecast of generation potential means, in relation to an intermittent generating station, an intermittent generator's estimate of the electricity (specified in MW) it will generate during a trading period, if—

• (a) the system operator issues dispatch instructions to the intermittent generator for the intermittent generating station for the trading period; and
• (b) none of the dispatch instructions are flagged in accordance with clause 13.73(1A)

forecast price means the price for electricity at each grid exit point, each grid injection point, and each reference point scheduled in the price-responsive schedule or the non-response schedule (whichever is the case) in dollars and cents

forecast reserve prices means the prices for fast instantaneous and sustained instantaneous reserve for each island scheduled in the price-responsive schedule or the non-response schedule (whichever is relevant) in dollars and cents

formal notice means a notice issued by the system operator in accordance with clause 5 of Technical Code B of Schedule 8.3

forward estimate means, in relation to non half hour metered ICPs, any volume information (in kWh) submitted for a part or full consumption period that is not an historical estimate

frequency fluctuation means a deviation in frequency outside the normal band

frequency keeping means an ancillary service that maintains the system frequency within the normal band

frequency keeping unit means any equipment that provides frequency keeping services

frequency time error [Revoked]

FTR means a financial transmission right created under subpart 6 of Part 13

FTR account [Revoked]

FTR acquisition cost means—

• (a) the amount a participant owes or is owed in respect of the acquisition of an FTR in an FTR auction; or
• (b) if an FTR has been assigned by the first holder of the FTR, the amount that becomes owing under clause 13.249(3); or
• (c) an amount described in paragraph (a) or (b) that is adjusted under clause 13.242A

FTR allocation plan means the FTR allocation plan prepared and published by the FTR manager under clause 13.238

FTR auction means an auction conducted by the FTR manager in accordance with the FTR allocation plan approved under subpart 6 of Part 13

FTR hedge value means the gross amount that becomes due and owing by the clearing manager or the holder of an FTR on the settlement of the FTR in accordance with the terms of the FTR (excluding the FTR acquisition cost and any amount owing under clause 13.249(4) or (7))

FTR manager means the market operation service provider for the time being appointed as the FTR manager under this Code

FTR period means a period for which an FTR applies

FTR reconfiguration amount means the amount a participant that sells a reconfigured FTR—

• (a) is entitled to be paid for the reconfigured FTR, if the amount is positive; or
• (b) is liable to pay in respect of the reconfigured FTR, if the amount is negative

FTR reconfiguration auction means an FTR auction that allows a holder of an FTR to offer for sale a portion of the FTR expressed in terms of all or a specified amount of the electricity (in MW) to which the FTR relates

FTR register means the register created and operated by the FTR manager under clause 13.247

fully calibrated certification means certification of a metering installation under clause 13(3) of Schedule 10.7

fully certified metering installation means a metering installation that has been certified other than an interim certified metering installation

gaining metering equipment provider means, for the purposes of Parts 10 and 11,—

• (a) the person who a trader records in the registry as the metering equipment provider for each metering installation for a point of connection; or
• (b) the person with whom the participant responsible for ensuring there is a metering installation for a point of connection enters into an arrangement to become the metering equipment provider for each metering installation for the point of connection

gaining retailer means a retailer who has entered into an arrangement to supply electricity to a person where, at the time the arrangement is entered into, the person is a customer of another retailer (being a losing retailer)

gate closure period, in relation to a trading period for which a generator or ancillary service agent has submitted an offer or reserve offer, or for which a dispatchable load purchaser has submitted a nominated dispatch bid, means—

• (a) the trading period to which the offer or reserve offer relates, and the trading period immediately preceding that trading period for—
  • (i) an embedded generator:
  • (ii) an ancillary service agent that is also an embedded generator:
  • (iii) a dispatch notification purchaser:
  • (iv) a dispatch notification generator; and
• (b) the trading period to which the offer, reserve offer, or nominated dispatch bid relates, and the 2 trading periods immediately preceding that trading period, for—
  • (i) any other generator:
  • (ii) any other ancillary service agent:
  • (iii) a dispatchable load purchaser (other than a dispatch notification purchaser)

generally available retail tariff plan—

• (a) means a retail tariff plan that a retailer will make available to any consumer (subject to credit requirements) if the consumer satisfies the requirements specified for the retail tariff plan relating to:
  • (i) physical location:
  • (ii) metering configuration:
  • (iii) price category code; but
• (b) does not include a retail tariff plan made available by a retailer only under an agreement reached as a result of the retailer directly contacting a consumer to offer a retail tariff plan that provides the consumer with a financial discount or other benefit when compared with any other of the retailer's tariff plans to which paragraph (a) applies that are available to that consumer

generating plant means equipment collectively used for generating electricity

generating station means 1 or more generating units that are directly connected to the grid or to a local network and that inject into the grid or a local network (as the case may be) at a single point of injection

generating unit means all equipment functioning together as a single entity to produce electricity

generating unit gross means the output of a generating unit measured or calculated at its output terminals, inclusive of any generating unit load supplied

generating unit load means the active and reactive power supplied or injected via connections between the generating unit’s output terminals and its generating unit circuit breaker

generating unit net means the output of a generating unit measured or calculated at its point of connection, but does not include generating unit load or any other active or reactive power supplied (including losses) between the generating unit and the point of connection

generation reserve means a form of instantaneous reserve (including, without limitation, partly loaded spinning reserve, tail water depressed reserve and that provided by energy storage systems) which comprises generating capacity that is able to provide fast instantaneous reserve or sustained instantaneous reserve in accordance with the procurement plan.

generator means, except in Part 6A, a person who owns generating units connected to a network, or any person who acts, in respect of Parts 13, 14 and 15, on behalf of any person who owns such generating units, and includes embedded generators, intermittent generators, type A co-generators, and type B co-generators

generator retailer means a trader who is both a generator and a retailer and in any month of the financial year of the generator retailer:

• (a) has sold to the clearing manager an amount of electricity at least equivalent to 5% of the total amount of electricity sold in any of those months by all generators who are traders to the clearing manager, as measured in MWh; and
• (b) was recorded in the registry in any of those months as being responsible for at least 5% of the total number of ICPs registered in the registry with an ICP status of “Active”,—

and, for the purposes of this definition, the terms “trader”, “generator” and “retailer” include any related company, as defined in section 2 of the Companies Act 1993, of a participant provided that the related company is a participant

good electricity industry practice in relation to transmission, means the exercise of that degree of skill, diligence, prudence, foresight and economic management, as determined by reference to good international practice, which would reasonably be expected from a skilled and experienced asset owner engaged in the management of a transmission network under conditions comparable to those applicable to the grid consistent with applicable law, safety and environmental protection. The determination is to take into account factors such as the relative size, duty, age and technological status of the relevant transmission network and the applicable law

grid means the system of transmission lines, substations and other works, including the HVDC link used to connect grid injection points and grid exit points to convey electricity throughout the North Island and the South Island of New Zealand

grid economic investment report means the report prepared under clause 12.115, either as part of Transpower’s annual planning report or in some other form, if the Authority so determines

grid emergency means a situation where—

• (a) in the reasonable opinion of the system operator, 1 or more of the events set out in clause 5(1) of Technical Code B of Schedule 8.3 has occurred, or is reasonably expected to occur and urgent action is required of the system operator or participants to alleviate the situation; or
• (b) independent action (as set out in clause 9 of Technical Code B of Schedule 8.3) is required of a participant to alleviate the situation

grid exit point and GXP mean any point of connection on the grid—

• (a) at which electricity predominantly flows out of the grid; or
• (b) determined as being such by the Authority following an application in accordance with clause 13.28,—

and such point of connection may, at any given time, be a grid exit point or a grid injection point, but may not be both at the same time

grid injection point and GIP mean any point of connection on the grid at which electricity predominantly flows into the grid. A point of connection may, at any given time, be a grid injection point or a grid exit point, but may not be both at the same time

grid interface means the assets used to make a connection to the grid (as the case may be), including associated protection, control and communication systems. The term includes the interface between assets forming part of the grid

grid owner means a person who owns or operates any part of the grid

grid reliability report means a report on grid reliability published by Transpower under clause 12.76(1)

grid reliability standards means standards for reliability of the grid developed in accordance with clauses 12.55 to 12.58, 12.61 and 12.62

grid zone area means a geographical area, which includes many nodes, as determined by the Authority and published under clause 13.221(1)

group constraint formula means the mathematical formula applied by the system operator, in accordance with Schedule 13.3, to constrain the energy flows on a group of transmission lines, transformers or both

GST means goods and services tax payable under the Goods and Services Tax Act 1985

half hour means a thirty minute period ending on any hour or half hour, and half hourly has a corresponding meaning

half-hour metering means the process of measuring and recording information—

• (a) relating to electricity conveyed; and
• (b) during—
  • (i) an interval that is a trading period; or
  • (ii) intervals that can be aggregated to 1 trading period

half-hour metering information—

• (a) means information describing the quantity of electricity conveyed in each trading period that is—
  • (i) recorded directly by a metering installation; or
  • (ii) calculated or estimated using information recorded directly by a metering installation; and
• (b) in respect of a generator that is selling electricity to the clearing manager and other persons at the same grid injection point in the same trading period, includes the file recording the quantity of electricity sold to the clearing manager during each such trading period constructed in accordance with dispatch instructions issued by the system operator under this Code.

half-hour metering installation means a metering installation used for half-hour metering

hedge settlement agreement means an agreement between participants that provides for settlement by the clearing manager of payments for differences in respect of the price of electricity

high spring washer price relaxation factor [Revoked]

high spring washer price situation [Revoked]

high spring washer price situation methodology [Revoked]

high spring washer price trigger ratio [Revoked]

high voltage terminal means the point at which the higher voltage side of a grid owner’s transformer connects to the grid

historical annual consumption [Revoked]

historical estimate means, in relation to non half hour metered ICPs, volume information (in kWh)—

• (a) apportioned to part or full consumption periods after having applied—
  • (i) the seasonal adjustment shape; or
  • (ii) any other profile that has, from time to time, been approved by the Authority for this purpose; or
  • (iii) any other profile permitted under clause 5 of Schedule 15.3; and
• (b) being 1 of the following:
  • (i) the difference between 2 actual validated meter readings:
  • (ii) the difference between 2 permanent estimates:
  • (iii) any relevant unmetered load:
  • (iv) the difference between a validated meter reading and a permanent estimate

hub means a node or group of nodes (and in the case of a group of nodes, nodes in the group may be given different weightings) identified as either hub A or hub B in an FTR

HV, for the purposes of subparts 2, 6 and 7 of Part 12, means high voltage

HVDC component flows means the quantity of energy flow on each component of the HVDC link as calculated by the modelling system in accordance with the model formulation set out in the system operator's market operation service provider agreement (as amended from time to time)

HVDC injection point means the point at which electricity is injected into the North Island or the South Island from the HVDC link

HVDC link means the converter stations at Benmore in the South Island and Haywards in the North Island and the high voltage transmission lines and undersea cables linking them (and including all associated equipment)

HVDC link configuration means the following modes of operation of the HVDC link:

• (a) [Revoked]
• (b) Pole 2 only:
• (c) Pole 3 only:
• (d) [Revoked]
• (e) Pole 3 and Pole 2 bipole round power:
• (f) Pole 3 and Pole 2 bipole not round power

HVDC owner means the grid owner who owns and/or operates the HVDC link

HVDC risk offsets means the values by which HVDC flows are adjusted by the system operator to determine the relevant reserve risk on the HVDC link

ICP means an installation control point being 1 of the following:

• (a) a point of connection at which the electrical facility for a retailer's customer is connected to a network other than the grid:
• (b) a point of connection between a network and an embedded network:
• (c) a point of connection between a network and shared unmetered load:
• (d) a point of connection at which the electrical facility for a generator or direct purchaser is connected to a network other than the grid

ICP day means any day when an ICP with the installation type L or B is recorded on the registry as having the status of Active

ICP identifier means a unique identifier for an ICP created by a distributor in accordance with clause 1 of Schedule 11.1

identification costs means any reasonable identification and testing costs incurred by the system operator in accordance with clause 8.3 that are unable to be recovered from participants by the system operator

incremental costs, for the purpose of Part 6, means:

• (a) the reasonable additional costs (which include any reasonable additional transmission costs) that an efficient distributor would incur in providing electricity distribution services to distributed generation; minus
• (b) the distribution costs (which do not include any transmission costs) that an efficient distributor would be able to avoid as a result of the electrical connection of the distributed generation.

industrial co-generating station means a generating station that —

• (a) [Revoked]
• (b) is reliant on a co-located industrial process because—
  • (i) it derives its fuel source from that co-located industrial process; or
  • (ii) it provides some or all of the electricity that it generates to that co-located industrial process; or
  • (iii) it provides some or all of any by-product of generating electricity to that co-located industrial process; and
• (c) is tightly coupled to an industrial process; and
• (d) has been approved by the Authority under clause 8(1)(a) of Schedule 13.4

industrial process means a process that has a primary purpose of producing an output other than electricity

infeasibility situation [Revoked]

information system [Revoked]

inherent characteristics means the permanent and fundamental characteristics of an asset that are outside the reasonable control of the asset owner and affect the output or response of that asset and includes the effects of water temperature, ambient air temperature and performance during ramping on asset performance

initial application, for the purposes of Part 6, means an application under clause 11 of Schedule 6.1

initial estimate [Revoked]

injection means the flow of electricity into a network

input connection contract [Revoked]

input information [Revoked]

installation type means a category based on whether an ICP consumes electricity, generates electricity, or both consumes and generates electricity

instantaneous reserve means an ancillary service provided to balance the injection of electricity into the grid with the offtake of electricity from the grid following a drop in system frequency to the level specified in the procurement plan, comprising 1 or more of the following:

• (a) interruptible load:
• (b) generation reserve

interconnecting transformer means a transformer (other than a transformer that is required to supply demand to distributors or direct consumers) that allows for the transfer of power within the grid between any of the following voltage levels:

• (a) 220kV:
• (b) 110kV:
• (c) 66kV:
• (d) 50kV

interconnection asset, for the purposes of subparts 2, 6 and 7 of Part 12—

• (a) has the meaning set out in the transmission pricing methodology; and
• (b) includes the HVDC link

interconnection branch means an interconnection circuit branch, and an interconnection transformer branch

interconnection circuit branch means a circuit branch that comprises or includes interconnection assets

interconnection point means a point of connection between—

• (a) a local network and any other local network; or
• (b) an embedded network that is not a gateway NSP and a local network; or
• (c) an embedded network that is not a gateway NSP and any other embedded network

interconnection transformer branch means a transformer branch comprising interconnection assets

interim certified metering installation means a metering installation referred to in clause 10.51(3)(a)(i)

interim marginal location factor means the factor that is determined by dividing the interim price at any grid exit point or grid injection point by the interim price at the relevant reference point

interim price means a price in dollars and cents for each grid injection point and each grid exit point, determined in accordance with the methodology specified in clause 13.134A, and includes a revised interim price made available on WITS by the clearing manager under clause 13.177(b)

interim reserve price means a price in dollars and cents for fast instantaneous reserve and sustained instantaneous reserve, determined in each island in accordance with the methodology specified in clause 13.134A, and includes a revised interim reserve price made available on WITS by the clearing manager under clause 13.177(b)

intermittent generating station means a generating station that relies on a variable resource that is not stored and in respect of which a generator has not been approved by the system operator under clause 13.3F as a dispatch notification generator

intermittent generator means the owner of an intermittent generating station. To avoid doubt, clauses referring to an intermittent generator apply only to the intermittent generating stations owned by the intermittent generator

interposed arrangement means an arrangement between a distributor and a trader under which the distributor—

• (a) conveys electricity to 1 or more consumers on the distributor's network; and
• (b) does not have a contract in respect of the conveyance of electricity with that consumer or those consumers

interrogation means the extraction or manual reading of stored data from a metering installation and interrogated and interrogating have corresponding meanings

interruptible load means a form of instantaneous reserve comprised of demand that is able to be reduced to provide fast instantaneous reserve or sustained instantaneous reserve following a drop in system frequency, in accordance with the procurement plan

interruptible load group GXP means the grid exit point, as approved by the system operator (such approval not to be unreasonably withheld), at which a reserve offer for interruptible load comprises the aggregate quantity of interruptible load available at a number of specified grid exit points for the purposes of offer and dispatch

interruption, for the purposes of Part 12, means an interruption in the conveyance of electricity between assets owned or operated by a designated transmission customer and the grid assets owned by Transpower at a point of connection, other than an interruption by reason of Transpower being directed to electrically disconnect a point of connection by the Authority or the Rulings Panel under the Act or this Code or by any other person authorised to do so by this Code

investment contracts means contracts for investments that are agreed between Transpower and a designated transmission customer

island means the South Island or the North Island of New Zealand (as the case may be)

island GWAP [Revoked]

island scarcity pricing situation [Revoked]

island shortage situation [Revoked]

ITP information means information on internal transfer pricing as described in clause 13.256

line function services has the meaning given to it by section 5 of the Act

line owner, for the purposes of the definition of specified participant, means a person who owns works that are used or intended to be used for the conveyance of electricity

lines has the meaning given to it by section 5 of the Act

livening [Revoked]

load weighted contract price means, in respect of a risk management contract, a price that has, in accordance with clause 13.220, been calculated, load weighted, adjusted to a location factor for the relevant grid zone area, and corrected for losses, for the purposes of subpart 5 of Part 13

local authority, for the purposes of Part 6, means a territorial authority within the meaning of the Local Government Act 2002

local losses means losses applying to the conveyance of electricity over a local network or an embedded network

local network means the lines, equipment and plant that are used to convey electricity between the grid and 1 of the following:

• (a) an embedded generator:
• (b) an embedded network:
• (c) an ICP

location factor, for the purposes of subpart 5 of Part 13, means the location factor calculated in accordance with clause 13.221(2)

losing metering equipment provider means, for the purposes of Parts 10 and 11, the existing metering equipment provider responsible for each metering installation for a point of connection at which there is a gaining metering equipment provider

losing retailer is defined as set out in the definition of gaining retailer

loss adjusted demand [Revoked]

loss and constraint excess means the difference between purchaser and generator payments as defined in clause 14.16

loss category means the relevant code in the schedule published by the registry manager that identifies the relevant loss factors that apply to submission information or dispatchable load information

loss compensation means the application of a predetermined adjustment or process to the data within, or obtained from, a metering component or metering installation in order to correct such data for known losses in primary plant (such as power transformers and cables)

losses means the difference between the delivered electricity at a point of connection and the electricity required to be injected into an other point of connection in order to supply the delivered electricity

loss factor means the factor, identified by reference to a loss category within the registry, to be applied to submission information or dispatchable load information to obtain adjusted for losses information at the relevant NSP, which factor is—

• (a) as set out in the report to be provided by the registry in accordance with clause 11.26(b); or
• (b) if a report has not been provided by the registry, as directed by the Authority under clause 15.20B(3) or 15(1) of Schedule 15.4

loss of communication means a sustained disruption of communications between the system operator and 1 or more generators, ancillary service agents, North Island connected asset owners, South Island grid owners, or dispatchable load purchasers such that operation of the grid is affected or is likely to be affected

LV, for the purposes of subparts 2, 6 and 7 of Part 12, means low voltage

main protection system means a protection system that detects 1 or more types of faults and electrically disconnects a faulted asset from the grid with the least possible disruption to the grid and non-faulted assets

maintain, for the purposes of Part 6, includes to repair, and maintenance has a corresponding meaning

major participant means—

• (a) a generator who is subject to dispatch or a generator with aggregated national generation capacity in excess of 30MW; or
• (b) an ancillary service agent providing frequency keeping or instantaneous reserve; or
• (c) a direct purchaser; or
• (d) a grid owner

manufacturer’s specification, for the purposes of Part 12, means the specifications for an asset, as stated by the manufacturer

market administrator [Revoked]

market operation service provider has the meaning given to it in section 5 of the Act

market operation service provider agreement means the agreement entered into between the Authority and a market operation service provider for the provision of services for the purposes of this Code

mass market customers means all those customers of a generator retailer or retailer who the generator retailer or retailer classifies as mass market or who are commonly understood to be mass market customers in accordance with standard industry practice

materially large contract, for the purposes of subpart 7 of Part 13, has the meaning given to it by clause 13.268

maximum continuous rating means the maximum electrical performance of an asset that can be maintained continuously in normal service

maximum export power means the maximum active power exported into the local network or embedded network at an ICP of a distributed generator, and is equal to—

• (a) the nameplate capacity of the distributed generation minus the minimum load at the point of connection; or
• (b) the power export limit imposed by an active export control device

maximum South Island frequency means the maximum frequency permitted in the South Island, which is 55 Hertz

measuring transformer means—

• (a) a current transformer; or
• (b) a voltage transformer; or
• (c) both a current transformer and a voltage transformer

meter means a device that measures either or both of the following—

(a) active energy:

(b) reactive energy

meter reading means a meter register value or the equivalent, obtained from raw meter data or such other reading as detailed in clause 3(1) of Schedule 15.2, which is not an estimated reading

metering means the process used to measure electricity conveyed

metering component means a component of a metering installation including—

• (a) a measuring transformer:
• (b) all wiring and intermediate terminals in the metering installation:
• (c) a control device:
• (d) a meter:
• (e) a data storage device:
• (f) a test facility:
• (g) a fuse:
• (h) a circuit breaker:
• (i) communication equipment:
• (j) an error compensation device

metering data means, in relation to a metering installation,—

(a) all metering records about the metering installation; and

(b) all raw meter data obtained from the metering installation

metering equipment owner means the participant who owns any or all of the items of metering equipment installed in a metering installation

metering equipment provider has the meaning given to it in section 5 of the Act

metering information means the quantity of electricity measured by a metering installation and adjusted for local losses (if relevant) to represent the equivalent amount of electricity at the point of connection with the grid and consolidated into a single quantity per trading period

metering infrastructure means, in relation to a metering installation,—

• (a) the metering installation:
• (b) if a back office process is necessary, the metering equipment owner’s back office for the metering installation:
• (c) a system that collects and sends information to or from the metering installation

metering installation means—

(a) equipment, including all metering components, used, or intended to be used, for metering:

(b) in the context of unmetered load, the calculation process used to derive the quantity of unmetered load:

(c) in the context of instances of both metered electricity quantities and unmetered load, both (a) and (b)

metering records means all specifications for, attributes of, and information relating to or concerning, a metering installation (other than raw meter data), including—

• (a) the relevant records of the metering equipment provider responsible for the metering installation:
• (b) the relevant records of each ATH who certified the metering installation or any metering component of the metering installation:
• (c) all factors applied in a meter in the metering installation and relating to that data (for example the k factor and m factor):
• (d) the metering installation's maintenance and repair history and requirements:
• (e) details of each metering component in the metering installation including information about its ownership:
• (f) all certification reports and supporting documents and records

metering situation [Revoked]

metering testing requirements [Revoked]

metering standards means the metering requirements set out in the Schedules to Part 10

metrology layer means a part of a metering installation used for either or both of the following:

• (a) measuring and recording electricity conveyed; or
• (b) recording event logs

minimum South Island frequency means the minimum frequency permitted in the South Island, which is 45 Hertz

model formulation means the model from which software specifications have been developed for the system operator

modelled projects means transmission augmentation projects and non-transmission projects that are reasonably expected to occur within the time period for which the assessment of costs and benefits under a net benefits test set out in Part 12 is undertaken

momentary fluctuations [Revoked]

MV, for the purposes of subparts 2, 6 and 7 of Part 12, means medium voltage

MW means a megawatt of electrical power

MWh means a megawatt hour of electrical energy

N-1 criterion means that, with all assets that are reasonably expected to be in service, the power system would be in a secure state

nameplate capacity means the lesser of—

(a) the full-load continuous rating of generating plant under conditions specified by its designer in MW or kilowatts; or

(b) the full-load continuous rating of the generating plant’s inverter (if any) under conditions specified by its designer in MW or kilowatts

national grid [Revoked]

national GWAP [Revoked]

national holiday means any day on which any of the following are observed as a statutory holiday:

• (a) Good Friday:
• (b) Easter Monday:
• (c) ANZAC Day:
• (d) the birthday of the reigning Sovereign (observed on the first Monday in June):
• (da) Te Rā Aro ki a Matariki/Matariki Observance Day:
• (e) Labour Day:
• (f) Christmas Day:
• (g) Boxing Day:
• (h) New Year’s Day:
• (i) the day after New Year’s Day:
• (j) Waitangi Day

national scarcity pricing situation [Revoked]

national shortage situation [Revoked]

negative sequence voltage means a measure of difference in magnitude and phase angle in each phase

net grid exit point [Revoked]

net grid injection point [Revoked]

net purchase quantity assessment means the quantity of an ancillary service derived from the following formula:

a = b – c

where

a is the net purchase quantity of the ancillary service to be procured by the system operator in accordance with the procurement plan

b is the gross amount of an ancillary service that the system operator believes is required in order to meet the principal performance objectives;

c is the amount of the ancillary service that is made available to the system operator under alternative ancillary service arrangements

network means, except in Part 6A, the grid, a local network or an embedded network

new investment agreement contracts means contracts entered into before 1 April 2008 between Transpower and its customers, under which Transpower agrees to provide new or upgraded plant and the customer agrees to pay charges based on Transpower's cost of providing the new or upgraded plant

New Zealand daylight time means New Zealand daylight time declared by Order in Council under section 4 of the Time Act 1974

New Zealand standard time has the meaning given to it by section 2 of the Time Act 1974

node means—

• (a) a bus; or
• (b) a location at which an electrical link that is not part of or does not contain a transformer, diverges or terminates (such as a "tee" point or a deviation); or
• (c) a point at a substation at which 2 or more electrical links join at which there is no bus

nominal voltage means the voltage at which particular equipment is designed to operate under normal circumstances

nominated bid—

• (a) [Revoked]
• (b) [Revoked]
• (c) [Revoked]
• (d) means the information that a purchaser submits to the system operator under clause 13.7 to indicate a reasonable estimate of the—
  • (i) electricity that the purchaser will purchase for a dispatch-capable load station at a GXP; or
  • (ii) non-dispatch-capable load that the purchaser will purchase at a nonconforming GXP; and
• (e) includes a deemed nominated bid under clause 13.8A

nominated dispatch bid means a nominated bid that a purchaser submits to the system operator in relation to a dispatch-capable load station that the purchaser is making available to be dispatched

nominated non-dispatch bid means a nominated bid that a purchaser submits to the system operator in relation to—

• (a) non-dispatch-capable load at a non-conforming GXP; or
• (b) a dispatch-capable load station that the purchaser is not making available to be dispatched

non-conforming GXP means a GXP that has been determined by the Authority to be a non-conforming GXP under clause 13.27A or 13.27B(4)

non-dispatch-capable load means a quantity of electricity purchased at a GXP that is not purchased for 1 or more dispatch-capable load stations

non half-hour metering means the process of measuring and recording information—

• (a) relating to electricity conveyed; and
• (b) at intervals that are greater than 1 trading period

non half-hour metering installation means a metering installation used for non half-hour metering

non-response schedule means the schedule prepared by the system operator—

• (a) under clause 13.58(1)(b); and
• (b) for the purpose of assisting generators, purchasers, consumers, ancillary service agents, and grid owners to manage their resources

non-transmission projects includes investments in any of the following:

• (a) generation:
• (b) energy efficiency:
• (c) demand-side management:
• (d) local network augmentation:
• (e) improvements to the systems and processes of the system operator:
• (f) the provision of ancillary services

normal band means a frequency band between 49.8 Hertz and 50.2 Hertz (both inclusive)

notified planned outage, for the purposes of Technical Code D of Schedule 8.3, means any planned outage for which the asset owner has given notice to the system operator in accordance with Technical Code D of Schedule 8.3

notify [Revoked]

notional embedding contracts means contracts entered into before 1 April 2008 between Transpower and its customers, under which a customer's generation assets are treated as if they were physically connected to load in lieu of their existing connection to the grid

NSP means a network supply point that is a point of connection between—

• (a) a local network and the grid; or
• (b) 2 local networks; or
• (c) a local network and an embedded network; or
• (d) 2 embedded networks; or
• (e) a generator and the grid

NSP identifier means a unique identifier for an NSP created by the reconciliation manager in accordance with clause 28 of Schedule 11.1

obligation FTR means an FTR for which the terms and conditions provide that—

• (a) (excluding the FTR acquisition cost) the holder of the FTR is entitled to receive a payment when, for the FTR period, the difference between the price (calculated in accordance with the terms of the FTR) at the hub identified as hub B and the price at the hub identified as hub A in the FTR is positive; and
• (b) (excluding the FTR acquisition cost) the holder must make a payment when the difference between those prices is negative

NZEF market-making agreement means an agreement between a participant and an exchange that imposes obligations on the participant in relation to the exchange’s daily settlement market-making scheme for NZ electricity futures, in the form of agreement used on the exchange for this purpose that is satisfactory to the Authority, having regard to its inclusion of the requirements set out in clause 13.236L and of the permitted exemptions from the performance of market-making services

NZEF market-making period means from 1530 to 1600 New Zealand time on each business day on which NZ electricity futures are traded

NZ electricity future means a New Zealand electricity 0.1 MW base load equivalent futures contract in respect of the Otahuhu reference node or the Benmore reference node available for trade on an exchange

offer means the information that a generator submits to the system operator under clause 13.6(1), and includes any revised offer that a generator submits under clauses 13.17 to 13.19

offer stack [Revoked]

offered FTR means an FTR that has been offered into an FTR reconfiguration auction

official conservation campaign is a campaign to encourage electricity conservation that—

• (a) is commenced by the system operator; and
• (b) lasts for 1 week or more; and
• (c) covers—
  • (i) the South Island; or
  • (ii) all of New Zealand

offtake means the flow of electricity from the grid at a grid exit point

operating account means the trust account or accounts established by the clearing manager in accordance with clause 14.66, and operating accounts has a considerable meaning

operational term means a term that is described in a default distributor agreement template for inclusion in a default distributor agreement in accordance with clause 3(1)(b) of Schedule 12A.4

option FTR means an FTR for which the terms and conditions provide that—

• (a) (excluding the FTR acquisition cost) the holder of the FTR is entitled to receive a payment when, for the FTR period, the difference between the price (calculated in accordance with the terms of the FTR) at the hub identified as hub B and the price at the hub identified as hub A in the FTR is positive; but
• (b) (excluding the FTR acquisition cost) the holder is not required to make a payment when the difference between those prices is negative

options contract means a contract containing the right to buy or sell a financial derivative contract that relates to a quantity of electricity that equals or exceeds 0.1 MW of electricity

order, for the purposes of subpart 5B of Part 13, means a quote, or a bundle of quotes (at the same price) in relation to a particular month or calendar quarter, and particular reference node simultaneously, placed on an exchange by a participant referred to in clause 13.236K(1)

other party, for the purposes of subpart 5 of Part 13, means the party to a risk management contract who did not submit information under clauses 13.219(1), 13.223(1), or 13.224, as the case may be

outage—

• (a) for the purposes of Technical Code D of Schedule 8.3, means any situation where an asset that forms part of, or is connected to, the grid or a local network—
  • (i) is temporarily not available for the generation, conveyance or consumption of electricity; or
  • (ii) is temporarily not available for the generation, conveyance or consumption of electricity at its normal capacity; and
  • (iii) includes any situation where any asset of a generator is not available as specified in sub-paragraphs (i) and (ii) due to an outage of any asset of a distributor; and
• (b) for the purposes of Part 12, has the meaning given to it by clause 12.130

outage constraint [Revoked]

outage plan, for the purposes of Part 12, means the annual outage plan developed under the Outage Protocol

Outage Protocol, for the purposes of Part 12, means the Outage Protocol that is incorporated by reference in this Code under clause 12.150

overall accuracy [Revoked]

over frequency limit means the maximum frequency of 50.5 Hz

over frequency reserve means an ancillary service that comprises an automatic reduction in the level of injection by a generating set to arrest an unplanned rise in system frequency

Part 6A dispensation means an exclusion from compliance with Part 6A or any provisions of Part 6A granted by the Authority in accordance with the process set out in clause 6A.9

participant has the meaning given to it in section 5 of the Act and, for the purposes of Parts 8, 13, 14, and 14A, has the additional meaning set out in clause 1.5

participant identifier means a unique 4 letter code assigned to a participant under clause 15.39 that is used to identify the participant, including in the reconciliation and registry processes

participant rolling outage plan means a plan developed by a specified participant under clauses 9.6 to 9.13

partly loaded spinning reserve means a form of generation reserve consisting of spare capacity, held in reserve on a generating unit, generating, but not operating at full output, but excludes the spare capacity provided by an energy storage system

party, for the purposes of subpart 5 and subpart 7 of Part 13, means either the buyer or seller under a risk management contract or both the buyer and seller under a risk management contract, as the case may be, and for the purposes of subpart 7 of Part 13, means either the buyer or seller under a contract or both the buyer and seller under a contract, as the case may be

payee [Revoked]

payer [Revoked]

permanent estimate means—

(a) a value sourced from an estimated reading that has passed the validation process in clauses 16 and 17 of Schedule 15.2 and has been calculated from validated meter readings; or

(b) if, despite using reasonable endeavours, a reconciliation participant cannot replace volume information created using estimated readings with volume information created using validated meter readings by the month 14 revision cycle, a value created by the reconciliation participant using its best estimates of validated meter readings

pivotal [Revoked]

planned interruption, for the purposes of Part 12, means an interruption caused by a planned outage

planned outage—

• (a) for the purposes of Technical Code D of Schedule 8.3, means any outage that is planned by the relevant asset owner and, in the case of an outage coming within paragraph (a)(iii) of the definition of outage, any such outage that is caused by a planned outage of a distributor; and
• (b) for the purposes of Part 12, means an outage carried out in accordance with the planning requirements set out in the Outage Protocol

point of connection means—

• (a) a point at which electricity may flow, via one or more phases or conductors—
  • (i) into or out of a network; or
  • (ii) both into and out of a network at the same time, where each directional flow is on different phases or conductors; and
• (b) for the purposes of Technical Code A of Schedule 8.3, means a grid injection point or a grid exit point

point of measurement [Revoked]

point of service means a normally contiguous electrical busbar of a particular voltage at which Transpower, as a grid owner, has agreed to provide services to 1 or more designated transmission customers

point of supply, in relation to any premises, means the point at which fittings, used or intended to be used for the purposes of supplying electricity to those premises, enter those premises

policy statement means the policy statement that is incorporated by reference in this Code under clause 8.10

preceding year [Revoked]

preceding year day [Revoked]

pre-dispatch schedule [Revoked]

preliminary sample means the statistical sample that is required in order to establish parameter estimates to determine the appropriate size of the profile sample

preliminary sample size means the required size of the preliminary sample

premium, in relation to a risk management contract, means the dollar amount paid by the buyer to the seller

prescribed form means a form prescribed from time to time by the Authority

price, for the purposes of Part 5, includes—

• (a) valuable consideration in any form, whether direct or indirect; and
• (b) any consideration that in effect relates to the acquisition of goods or services or the acquisition or disposition of any interest in land, although ostensibly relating to any other matter or thing

price category means the relevant code in the schedule published by a distributor that is used to unambiguously define the line charges for an ICP

price-responsive schedule means the schedule prepared by the system operator—

• (a) under clause 13.58(1)(a); and
• (b) for the purpose of assisting generators, purchasers, consumers, ancillary service agents, and grid owners to manage their resources