New date for the Market Development Advisory Group’s recommendations
The final report from the Market Development Advisory Group (MDAG) project on price discovery in a renewables-based electricity system will be published in December 2023.
The initial project timeframes planned to provide a final report to the Electricity Authority Board in mid-2023, but that has now been revised.
The delay is to enable the MDAG to fully consider the 33 submissions received on the options paper, engage further with stakeholders on some issues and allow further analysis of preferred options to produce recommendations that have been rigorously examined.
The MDAG is also developing a series of working groups to thoroughly test preferred options and consider how these work in practice. The MDAG will also provide input on the Authority’s work on hedge disclosure and demand-side flexibility.
The Authority continues to progress its work programme in parallel with the development of the MDAG’s final report.
The final report will be considered by our Board before any decisions are made on its recommendations.
Review of off-peak prices
In May 2023, off-peak prices were particularly high for trading periods 21-34 at between $78/MWh and $245/MWh. Our Market Monitoring team has conducted analysi…
Stress tests remain unchanged
The two existing stress test scenarios for energy shortage and capacity shortage will continue to apply from October to December 2023. There is no change from …
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