1. This notice of a recommendation and assessment concerning the Electricity Governance (Republication of Final Prices) Amendment Rules 2010 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 and Resources concerning the Electricity Governance Rules 2003 ("Rules"), the Commission must publicise the recommendation and the assessment completed under section 172F of the Act.
Recommended Amendments to the Rules
3. On 1 July 2010 the Commission recommended that
Rule 3.27 of Section V of Part G of the Rules be amended as follows:
"3.27 Final prices will not be republished Republication of final prices
Unless directed to do so by the Commission under regulation 56 of the Electricity Governance Regulations 2003, tThe pricing manager will must not be obliged to republish the final price or final reserve price for any trading period. This will be the case notwithstanding any error subsequently discovered in the information provided under rule 3.3 or in the process carried out by the pricing manager in this rule 3. For the avoidance of doubt, the Board may not order the republication of any final price or final reserve price notwithstanding the fact that an undesirable trading situation may exist."
4. 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/rulesand
regs/recommend
Dated at Wellington this 1st day of July 2010.
For and on behalf of the Electricity Commission:
DAVID CAYGILL, Chair.