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 (Benefit-based Charge Adjustment Event: New Customer) 2024 (“amendment”).

2. The amendment comes into force on 10 April 2024.

3. The amendment amends Schedule 12.4 of the Code (the Transmission Pricing Methodology) to correct an issue with the way the benefit-based charge adjustment event is calculated when a new customer connects to the grid in circumstances where that new customer is joining a regional customer group with low intra-regional allocator values, which results in the new customer receiving disproportionately high benefit-based charges. The amendment caps the simple method charges calculated under this adjustment event provision in these limited circumstances to ensure charges are proportionate to the expected net private benefits received by the connecting party.

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

5. 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/.

6. 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 26th day of February 2024.

ANNA KOMINIK, Chair, Electricity Authority.