Under section 38 of the Electricity Industry Act 2010, and having complied with section 39 of that Act, the Electricity Authority gives notice of making the Electricity Industry Participation Code Amendment (Settlement Residual Allocation Methodology) 2022 (“amendment”).

1. The amendment comes into force on 1 April 2023.
2. The amendment amends the Electricity Industry Participation Code 2010 (“Code”) to require grid owners and distributors to develop methodologies for allocating to their customers settlement residue, and to allocate and pay settlement residue in accordance with these methodologies.
3. The amendment is secondary legislation for the purpose of the Legislation Act 2019 and is administered by the Authority.
4. A copy of the amendment and the Code is available on the Electricity Authority's website: http://www.ea.govt.nz/code-and-compliance/the-code/.
5. A copy of the amendment and the Code may also be inspected free of charge or purchased from the Electricity Authority, Level 7, Aon Centre, 1 Willis Street, Wellington.

Dated at Wellington this 14th day of November 2022.

Dr NICOLA LANE CRAUFORD, Chair, Electricity Authority.