Wellington Anniversary Day is a non-business day

Wellington Anniversary Day (22 January 2024) is declared a non-business day for the purposes of the Electricity Industry Participation Code. The reasons for this are:

• Payments and refunds of prudential security are made by the Wellington-based clearing manager and the cash accounts are managed by Wellington-based banks. This means that transactions will not be able to take place on that day.

• The Electricity Authority, clearing manager, reconciliation manager, system operator, and grid owner are Wellington-based. This means there is no ability for these service providers to resolve or work on pricing, volume or other disputes, or other work where the Code mandated deadline falls on that day. It is the same as if the day was a national public holiday.

Note that the Authority has proposed a Code amendment to include Wellington Anniversary as a non-business day as part of its Code Review Programme. There were no submissions on this proposal. However, the Code will not be amended before 22 January 2024, necessitating the declaration in this instance.