Risk and risk management
This programme covers initiatives to promote efficient management of capacity and energy risks. This programme aligns with our increase flexibility and resilience strategy.
The hedge market development project monitors and supports industry progress on improving hedge market activity.
Latest Activity: 12 Nov – 2 Dec 2019 Hedge Market Enhancements market making discussion paper
This project is about how electricity distributors and direct connect consumers provide extended reserve using automatic under-frequency load shedding (AUFLS).
Latest Activity: 15 Oct 2019 How extended reserve works
Determinations of who caused under-frequency events
Latest Activity: 10 Sep 2019 Final determinations of who caused the December 2018 under-frequency events
We are reviewing aspects of the settings for OCCs.
Latest Activity: 3 Sep – 7 Oct 2019 Survey - Removal of provision for South Island-only official conservation campaigns
We are considering options to improve the way in which extended reserves are procured.
Latest Activity: 17 Apr 2018 Extended reserve project update
Latest Activity: 27 May 2017 Development on winter energy
The Authority is reviewing the arrangements for managing normal frequency. Matters to be considered include the asset owner performance obligations for generators, the proposed national market for frequency keeping, cost allocation and dispatch processes
Latest Activity: 28 Mar – 9 May 2017 Information paper: Normal Frequency Management - Strategic Review
We reviewed the stress test regime, called the Spot Price Risk Disclosure requirements, which are contained in Part 13 of the Code. We want to assess whether the regime continues to provide appropriate signals and incentives to retailers and consumers
Latest Activity: 1 Mar 2016 Background of stress test review
We reviewed the customer compensation scheme (CCS) set out in Part 9 of the Code to assess whether it continues to provide appropriate signals and incentives to retailers and consumers under evolving market conditions.
Latest Activity: 1 Mar 2016 Background on CCS
This project reviews the disclosure of information in the electricity market.
Latest Activity: 9 Sep 2015 Background of wholesale market information
This project has arisen, in conjunction with the Multiple Frequency Keepers (MFK) Project because the cost of frequency keeping services has increased significantly in recent years.
Latest Activity: 13 Aug 2013 Project brief
We are progressing a project to enable instantaneous reserve to be procured in a national market.
Latest Activity: 1 Mar 2013 Background on instantaneous reserve
This project reviews the fast instantaneous reserve and sustained instantaneous reserve (FIR and SIR) market arrangements and products to determine whether there are alternative reserve products and procurement methods that could be brought to the market
Latest Activity: 10 May 2012 Under-frequency management project
A review has been undertaken of the obligations of generation assets to support frequency under normal conditions.
Latest Activity: 17 Jun – 30 Jul 2010 Normal Frequency - Generator Asset Owner Performance Obligations
|Fault ride through project||Outcome:||Completed:|
|The Authority decided to amend the Code to include fault ride through standards for generating units.||The enabling Code amendment came into force on 24 November 2016.||24 Nov 2016|
|Managing Retailer Default Situations||Outcome:||Completed:|
|The Authority has made arrangements to facilitate the orderly resolution of a default situation when an electricity retailer becomes insolvent or otherwise exits the market and is unable to supply its customers.
Ongoing failure by a retailer to pay for electricity or distribution services can lead to increasing financial losses by generators and distributors and could lead to customers becoming stranded without a retailer.
|To manage this possible situation regulated arrangements for managing a retailer default became operational in July 2014.||15 Jul 2015|