Open letter regarding 10 May 2024

The Electricity Authority Te Mana Hiko has published an open letter to industry regarding issues related to the tight supply conditions on 10 May 2024.

Concerns were raised by industry participants about the transparency of operational processes, the system operator’s use of communications with all consumers, and the maintenance of appropriate pricing signals for long term investment.

We acknowledge the concerns raised and have responded with the Authority’s view of the actions of 9 and 10 May 2024 and where we see opportunities to enhance operational tools and communications.

Security of supply is the priority, and we want to ensure market settings strike a balance between providing the system operator with sufficient flexibility to manage power system security, as well as promoting appropriate market signals in a way that incentivises reliable supply for consumers.