General news

Standardised Flexibility Co-design Group recommendations published

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The Electricity Authority Te Mana Hiko has published the Standardised Flexibility Co-design Group’s (Co-design Group) recommendations.

The Co-design Group’s primary recommendations centre on developing the recently launched standardised super peak product and the brokered trading events to support liquidity.

We have worked at pace to facilitate the Co-design Group’s work and was pleased to see strong interest from buyers and sellers resulting in several successful trades at the first trading event on 28 January. We look forward to seeing the industry build on this outcome in future fortnightly trading events.

With trading now underway, we are moving quickly to strengthen our monitoring and provide more information about flexibility products trading. This is consistent with the Co-design Group’s recommendations and builds on the Market Design Advisory Group’s recommendations.

This monitoring will enable us to track bids and offers, trading volumes and prices, and the types of participants trading the product. We will use these insights to inform our decisions on whether regulatory measures are necessary to ensure liquidity and competitive access to flexibility products.

The Co-design Group also put forward several other suggestions for the Electricity Authority’s consideration, including ideas for the development of further flexibility and demand response products for the future.

We appreciate the expertise and thought the Co-design Group has put into their recommendations, and we are considering their place in our work programme.

The new standardised super peak product is the outcome of one of four Energy Competition Task Force initiatives to enable new generators and independent retailers to enter and better compete in the market.

Read the Standardised Flexibility Co-design Group’s recommendations

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