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31 March 2020
Welcome to Market Brief, the Electricity Authority’s weekly update on regulatory and market developments.

Contents

COVID-19 update

The COVID-19 pandemic continues to develop and for now, the way we live, work and play has changed significantly.

Right now, the Authority is focused on what is most essential – for consumers, the sector and the market, and for ensuring we look after our staff and their families. We are currently operating as close to normal as possible, with our staff working from their homes.

The move to alert level 4 will impact when and how people consume electricity. A secure and reliable supply of electricity is essential. The Authority is working closely with agencies and industry to give ongoing certainty during this extraordinary time.

Our website will be the main source of public information from the Electricity Authority during the alert level 4 restrictions. We’ll update it regularly and also share key information on our social channels Twitter and LinkedIn so please keep checking in.

We encourage you to keep in regular contact with us, send your emails to communuications@ea.govt.nz.
Visit website

Increasing exemptions for market makers during the COVID-19 level 4 restrictions 

The current level 4 Covid-19 restrictions in New Zealand may affect the ability of market makers to safely and consistently provide full market making services.
 
The ASX has proposed allowing for additional flexibility to market makers over the immediate future to provide for the IT and staff challenges market makers may face in the near term, as people work remotely.
 
The ASX has increased the number of exemptions allowed under the voluntary arrangement from five to seven days per calendar month.
 
The Authority considers this is a sensible and pragmatic approach to ensuring that market making services continue.
 
These changes to the voluntary exemptions are effective immediately. The arrangements will end the earlier of 3 months, or the end of the alert level 4 in Wellington and Auckland.
 
There is no change to the backstop mandatory Electricity Industry Participation Code 2010 requirements.
 

Consultation period extended: High Standard of Trading Conduct provisions 

The consultation period and cross submissions period for the High Standard of Trading Conduct provisions: a review by the MDAG discussion paper has been extended.
 
The previous deadline was 5pm, Monday 6 April. The new deadline is 5pm, Monday 4 May (four week extension).
 
The cross-submission period will be open from Monday, 4 May until 5pm, Wednesday 27 May 2020.

Read consultation paper

Current consultations

High Standard of Trading Conduct provisions: a review by the MDAG discussion paper

Ending: 04/05/2020 5pm

Read more
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Tel: + 64 4 460 8860   Email: info@ea.govt.nz
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