General news

Code exemption granted to Lodestone Solar Limited

  • Generation
  • Code

The Electricity Authority Te Mana Hiko has granted Lodestone Solar Limited an exemption from two clauses in the Electricity Industry Participation Code 2010 (Code) that require disclosing participants to provide spot price risk disclosure statements and annual certification of the statements.

Spot price risk disclosure statements provide evidence to the Authority that disclosing participants are not negatively exposed in the wholesale market. This measure is designed to protect consumers from unexpected retailer defaults, which could result in consumers being transferred to another retailer.

Lodestone is a generator that sells its electricity to a clearing manager. However, it also buys electricity from the clearing manager for its own use at its solar farms, which means it is considered a disclosing participant and is required to submit spot price risk disclosure statements under clause 13.236A of the Code, and certifications of those statements under clause 13.236F.

The Authority has determined Lodestone has a very small spot price risk because it is primarily a generator and generates significantly more than the electricity it purchases for its own use.

Granting this exemption meets the requirements in section 11(2) of the Electricity Industry Act 2010.

A Gazette Notice provides more details on the exemption. The exemption expires at close of 30 June 2033 or on the terms set out in the Gazette Notice.

About exemptions from the Code

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