1. 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 (Default Transmission Agreement) 2023 (“amendment”).

2. The amendment comes into force on 1 October 2023.

3. The amendment amends the Code to insert as a new Schedule 12.6, a default transmission agreement template which all transmission agreements (other than those referred to in clause 12.49(1) of the Code) entered into between designated transmission customers and Transpower must be consistent with. The default transmission agreement template replaces the benchmark agreement (a document incorporated by reference in the Code) which is revoked.

4. The amendment also deems changes that have been made to the default transmission agreement template when compared to the benchmark agreement to be made to existing transmission agreements.

5. These changes are to provide for the recovery by Transpower of the costs of allocating and paying settlement residue to its customers, and to provide consistency with the transmission pricing methodology that came into force on 1 April 2023 and other law changes that occurred since the benchmark agreement was incorporated by reference in the Code.

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

7. 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/.

8. 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 21st day of August 2023.

ANNA KOMINIK, Chair, Electricity Authority.