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 provisions for the Electricity Governance Regulations in relation to which the amendments to the Rules are made are section 172D(1)(1)(a) and (d) of the Act.
3. The amendments will require the market administrator each day to publish final reserve offers for each trading period of the trading day two weeks prior.
4. Pursuant to section 172Z(4) of the Act, the reason for my decision to amend the Rules is that the amendment will make the electricity wholesale spot market more transparent, without facilitating collusion between participants.
5. These rules come into force on 1 June 2007.
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. The Rules can also be viewed on the Electricity Commission’s website:
http://www.electricitycommission.govt.nz/rulesandregs/rules
Dated at Wellington this 27th day of March 2007.
DAVID PARKER, Minister of Energy.