Quarterly report to the Minister for Energy

Our latest quarterly report to the Minister for Energy provides a summary of the Electricity Authority’s performance from 1 July to 30 September 2024.

The report shows that we continued to deliver against the Minister’s letter of expectations 2024/25 and activities in our Statement of performance expectations 2024/25, with 100% of our performance measures on track and 95% of our activity areas on track.

In this reporting period, there were a number of highlights, we:

• took urgent action in response to high and volatile wholesale prices in August.
• established the Energy Competition Task Force with the Commerce Commission to investigate ways to improve the performance of the electricity market.
• completed a section 18 review into the collapse of a Northland transmission tower.
• launched the Power Innovation Pathway to accelerate innovation and competition in New Zealand’s electricity sector.
• introduced an urgent amendment to the Electricity Industry Participation Code to ensure the electricity futures market operates effectively during times of market stress.
• made significant progress on actions that will enhance information and transparency around price signals and improve access to risk management tools.

Quarterly report to the Minister for Energy 1 July 2024 to 30 September 2024