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 are sections 172D(1)(1)(a) and 172D(1)(1)(d) of the Act.
3. Rule 7 of section II of Part G of the Rules is amended. The amendments reduce the delay for the publication of bids, offers and reserve offers from two weeks after the relevant trading day to the next day.
4. Pursuant to section 172Z(4) of the Act, the reasons for my decision to amend the Rules are:
(a) to increase transparency in the wholesale market; and
(b) to improve information available to market participants and market monitors.
5. These rules come into force on 31 August 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/rulesandregs/rules
Dated at Wellington this 22nd day of June 2010.
HON GERRY BROWNLEE, Minister of Energy and Resources.