1. Pursuant to section 38(3)(b) of the Electricity Industry Act 2010 ("Act"), the Electricity Authority ("Authority") gives notice of the making of the Electricity Industry Participation (Credit Rating) Code Amendment 2011.
2. The amendment comes into force on 1 July 2011.
3. The amendment adds an "A-" rating from Fitch Ratings to the list of acceptable credit ratings for the purposes of satisfying a payer’s prudential security requirements.
4. In accordance with section 39(3)(a) of the Act, the Authority is satisfied that the amendment is technical and non-controversial, and therefore the Authority is not required to prepare and publicise a regulatory statement or consult on the amendment and the regulatory statement.
5. A copy of the amendment and the Electricity Industry Participation Code 2010 ("Code") is available on the Authority’s website
www.ea.govt.nz/act-code-regs/code-regs/the-code/
6. A copy of the amendment and the Code may also be inspected free of charge or purchased from the Electricity Authority, Level 7, ASB Bank Tower,
2 Hunter Street, Wellington.
Dated at Wellington this 25th day of May 2011.
DR THOMAS BRENT LAYTON, Chairperson, Electricity Authority.