Pursuant to Regulation 196 of the Electricity Governance Regulations 2003, the Electricity Commission gives the following notice.
N o t i c e
1. Title and commencement—(1) This notice is the Electricity Governance Regulations (Exemption No. 40 (Pricing Manager)) Exemption Amendment Notice 2008.
(2) In this notice, the Electricity Governance Regulations (Exemption No. 40 (Pricing Manager)) Exemption Notice 2007* is called the “principal notice”.
(3) This notice comes into force on the day after the date on which it is notified in the New Zealand Gazette.
2. Amendment to principal notice—(1) The principal notice provides an exemption from the requirement to comply with Rules 4.2, 5.4(e) and 5.5 of Schedule G6 of Part G of the Electricity Governance Rules 2003.
(2) The principal notice is amended by omitting the date on which the exemption is stated to expire (30 June 2007) and substituting 31 March 2010.
3. Reasons for amendment—The reasons for this amendment are as follows:
(a) The existing exemption has ensured that in setting prices, the pricing manager has operated with clarity and consistency;
(b) the existing exemption has ensured that the pricing manager has used the most appropriate instantaneous reserves information in the pricing process; and
(c) extending the exemption will allow time for the recommendation of the variable reserves rule change proposal which has been delayed because of the delay to the system operator’s software upgrade.
Dated at Wellington this 23rd day of June 2008.
For and on behalf of the Electricity Commission:
DAVID CAYGILL, Chair.
*New Zealand Gazette, 22 February 2007, No. 20, page 407