1. This notice of a recommendation and assessment concerning the Electricity Governance Rules 2003 (“Rules”), Rule Amendment Proposal No. 139, 2008, is issued by the Electricity Commission (“Commission”) pursuant to section 172E(2)(c) of the Electricity Act 1992 (“Act”).
2. The Act provides that, no later than 10 working days after making a recommendation to the Minister of Energy concerning the Rules, the Commission must publicise the recommendation and the assessment completed under section 172F of the Act.
Recommended Amendments to the Rules
3. On 6 October 2008, the Commission recommended
the creation of a new Section VI of Part G of the
Rules. The Commission recommended that the new section be entitled Hedge Arrangement Disclosure Rules. In addition, the Commission made recommendations for consequential amendments to Part A of the Rules.
4. The recommended amendments to the Rules require:
(a) participants (as defined in the Rules) to disclose risk management contract details (captured by specific criteria) to the information system; and
(b) the information system to make the information publicly available.
5. A copy of the Commission’s recommendation and assessment is available, at no cost, on the Commission’s website at
http://www.electricitycommission.govt.nz/rulesandregs/recommend
Dated at Wellington this 3rd day of October 2008.
For and on behalf of the Electricity Commission:
PETER HARRIS, Commissioner.