Consultation paper published - Code amendment omnibus #4

We’re seeking feedback on an omnibus consultation paper with four discrete amendment proposals to the Electricity Industry Participation Code 2010 to:

1. Improve consumers’ access to their electricity data
2. Remove the system operator’s obligation to eliminate frequency time error
3. Introduce a hedge settlement agreement for fixed price variable volume hedges
4. Remove the need for the Electricity Authority to consult on under-frequency events if the causer admits culpability.

The Electricity Authority envisions a future where every consumer is empowered to take full advantage of a dynamic and competitive energy market. In this new landscape, consumers are not just passive users of electricity, but active participants equipped with data and innovative tools to make informed decisions. This is what we call 'consumer mobility'.

To enable this future, it is important for consumers to have access to their own data more quickly and at no cost to them. The Authority is proposing some changes to the Code as an interim step towards this future. In the near future, we’re signalling our expectation of near real-time access to data at no cost to the consumer. This signal is to give retailers time to ensure their systems and processes can be enabled for this future in the lowest cost way, and aligned with their other systems work.

Proposals two to four are aimed at resolving practical problems that impede the efficient operation of the industry.

The 'Code amendment omnibus' is a vehicle to consult on multiple discrete proposals to amend the Code. The intent is to move quicker on amendments and streamline the process to reduce the number of different consultation papers we publish and make it easier for participants to provide feedback.

We are committed to working differently to ensure regulation keeps up with the transformation underway across the electricity sector.

We welcome feedback on any, or all proposals, in the Code amendment omnibus #4 consultation paper by Tuesday 15 October 2024.

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