1. Pursuant to section 172I of the Electricity Act 1992 ("Act"), I notify the amendment of the Electricity Governance Rules 2003 ("Rules") under section 172H of the Act.
2. The empowering provision for the Electricity Governance Regulations in relation to which the amendments to the Rules are made is section 172D(1)(1)(a) of the Act.
3. Rules in Part A and Part G of the Rules are amended. The amendments allow for the introduction of an interim pricing period. During this period interested parties will be able to view prices before they are finalised. If they consider that an error may have been made in their calculation they will be able to apply to have it corrected.
4. Pursuant to section 172Z(4) of the Act, the reason for my decision to amend the Rules is to set out a process so that if any pricing errors are made, they can be corrected before prices are finalised. This is intended to increase the level of accuracy in final prices.
5. These rules come into force on 1 October 2010.
6. Copies of the Rules may be inspected free of charge or purchased from the Electricity Commission, Level 7, ASB Bank Tower, 2 Hunter Street, Wellington.
7. The Rules can also be viewed on the Electricity Commission’s website
http://www.electricitycommission.govt.nz/rulesand
regs/rules
Dated at Wellington this 27th day of July 2010.
HON GERRY BROWNLEE, Minister of Energy and Resources.