1. Under sections 38 and 40 of the Electricity Industry Act 2010, the Electricity Authority gives notice of making the Electricity Industry Participation Code Amendment (Residual Charge Adjustment Factor) 2023 (“amendment”).

2. The amendment comes into force immediately following the time that the Electricity Industry Participation Code Amendment (Transmission Pricing Methodology) 2022 comes into force (1 April 2023).

3. The amendment amends Schedule 12.4 of the Electricity Industry Participation Code 2010 (“Code”) (the Transmission Pricing Methodology) to correct a drafting error in the formula for calculating a load customer’s residual charge adjustment factor (“RCAF”).

4. Pursuant to section 40 of the Electricity Industry Act 2010, the Authority considers that it is necessary or desirable in the public interest that the amendment be made urgently to provide certainty about how the RCAF is calculated from the date the new Transmission Pricing Methodology comes into force (1 April 2023).

5. The amendment is secondary legislation for the purpose of the Legislation Act 2019 and is administered by the Authority.

6.  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/.

7.  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 22nd day of March 2023.

Dr NICOLA LANE CRAUFORD, Chair, Electricity Authority.