This notice of a recommendation and assessment for gas governance regulations is issued by Gas Industry Company Limited (“Gas Industry Co”) approved as the industry body by Order in Council under section 43ZL of the Gas Act 1992 (“the Act”).
Section 43O of the Act provides that, no later than
10 working days after making a recommendation for a
gas governance regulation to the Minister of Energy, Gas Industry Co must publicise the recommendation and the assessment completed under section 43N of the Act.
Recommendation
On 30 June 2008, Gas Industry Co made a recommendation to the Minister of Energy, under sections 43F(2)(a)(vi)
and 43S of the Act, for approval of the Gas Governance (Critical Contingency Management) Regulations to provide for the establishment of a critical contingency management regime.
The purpose of the regulations is to:
? identify the onset of a critical contingency;
? establish procedures for effective management of a critical contingency;
? provide for the appointment of a critical contingency operator (CCO) whose primary role is to restore the supply/demand balance by targeted curtailment of
load; and
? establish a price which is used to settle inadvertent trading between those parties whose supplies have failed and those parties who have access to supplies but whose customers have been curtailed.
A recommendation for amended regulations providing for compliance with, and enforcement of, the Gas Governance (Critical Contingency Management) Regulations was made in conjunction with this recommendation.
A copy of Gas Industry Co’s recommendation, including
the assessment, is available at no cost on Gas Industry
Co’s website
http://www.gasindustry.co.nz
Dated at Wellington this 30th day of June 2008.
For and on behalf of Gas Industry Company Limited:
RT HON JAMES BOLGER, O.N.Z., Chair.