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This
legislation is administered by the Electricity Authority. For more
information please see: Website: https://www.ea.govt.nz/ Contact
phone: +64 4 460 8860 Contact
address: PO Box 10041, Wellington 6143 |
Electricity Industry Participation Code (Settlement of Financial
Transmission Rights) Amendment 2026
This amendment to the Electricity Industry Participation Code 2010 (Code) is made under section 38 of the Electricity Industry Act 2010 (Act) by the Electricity Authority having complied with section 39 of the Act.
Amendment
1 Title
This is the Electricity Industry Participation Code (Settlement of Financial Transmission Rights) Amendment 2026.
2 Commencement
This amendment comes into force on 1 October 2027.
3 Code amended
This amendment amends the Electricity Industry Participation Code 2010.
4 Clause 14.16 (Calculation of loss and constraint excess) amended
(1) Replace clause 14.16(2) with:
(2) The clearing manager must determine the amount of loss and constraint excess for a billing period—
(a) except where
paragraphs (b) or (c) apply, no later than 1600 hours on the 9th business day
of the month following the billing period; or
(b) if publication
of final prices is delayed for any trading period in the billing period so that final prices for a trading period in the billing period are published later than 1600 hours on the 9th business day
of the month following the billing period, no later than 1 business day
after all final prices for the billing period are published; or
(c) in the case of a volume dispute which requires the clearing manager to recalculate the amount of loss and constraint excess, as soon as practicable and no later than 1600 hours on the 18th business day following the billing period
(2) Revoke clause 14.16(3).
(3) In clause 14.16(4)—
(a) insert “all of” after “must apply”; and
(b) replace “the amount advised” with “the loss and constraint excess determined”; and
(c) insert “that relate to the billing period” after “settlement of FTRs”.
(4) Revoke clause 14.16(5).
(5) Replace clause 14.16(6) with:
(6) If there is more than one grid owner, the clearing manager must calculate and pay any residual loss and constraint excess in respect of a billing period to each grid owner in the proportions advised by the
Authority.
(6) Replace clause 14.16(7) with:
(7) If there is only one grid owner, the clearing manager owes that grid owner
the full amount of any residual loss and constraint
excess in respect
of a billing period.
5 Clause 14.17 (Amounts owing for FTRs) amended
In clause 14.17(5)(c), delete “or (5)”.
6 Clause 14.20 (Amounts owing by clearing manager to participant) amended
In clause 14.20(2)(k)—
(a) replace “loss and constraint excess and” with “any”; and
(b) replace “clause 14.16(7)” with “clause 14.16(6) or (7)”.
7 Clause 14.39 (Washups for grid owners) amended
In clause 14.39(a), (b) and (d), replace “clause 14.16(7)” with “clause 14.16(6) or (7)” in each place.
8 Clause 14.56 (Calculation of revised amount owing for general amounts) amended
(1) In clause 14.56(1)(c), delete “or (5)”.
(2) Revoke clause 14.56(1)(d).
9 Clause 14.57 (Calculation of revised amount owing for FTR amounts) amended
In clause 14.57(1)(b) and 14.57(2)(b), replace “clause 14.16(7)(b)” with “clause 14.16(6) or (7)” in each place.
Schedule 14.3
revoked
10 Schedule 14.3 revoked
Revoke Schedule 14.3.
Made at Wellington on 28
September 2026
JOHN HARBORD
Chair
Electricity Authority
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Certified in
order for signature:
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Explanatory Note
This note is not part of the amendment but is
intended to indicate its general effect.
This
amendment to the Electricity Industry Participation Code 2010 comes into force
on 1 October 2027.
The
amendment amends Part 14 of the Electricity Industry Participation Code
2010 to require the clearing manager to
make all loss and constraint excess available for settlement of financial
transmission rights (FTR), removing the requirement for the FTR Manager to
calculate the amount available for settlement.
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This is secondary legislation issued under the authority of the Legislation Act 2019. |
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Title |
Electricity Industry Participation Code (Settlement of Financial Transmission Rights) Amendment 2026 |
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Instrument ID |
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Empowering provisions |
Electricity Industry Act 2010, section 38 |
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Date made |
28 September 2026 |
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Date as at |
Not applicable |
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Date of publication |
2 October 2026 |
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Administering agency |
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