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 (Backup Interim Price Method) 2025 (“amendment”).
2. The amendment comes into force on 1 July 2025.
3. The amendment amends subpart 4 of Part 13 of the Electricity Industry Participation Code 2010 (“Code”) as part of the Authority’s Code amendment omnibus number five to provide a backup method for calculating spot prices for electricity and instantaneous reserves in the wholesale electricity market when market schedules have not been published for 36 hours or more.
4. The amendment is to the method for calculating interim prices and interim reserve prices. Interim prices and interim reserve prices become final prices and final reserve prices (the spot prices for electricity and instantaneous reserves in the wholesale electricity market) if there is no price error claim.
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 14th day of April 2025.

ANNA KOMINIK, Chair, Electricity Authority.