1. The Electricity Authority (“Authority”) gives notice of the Electricity Industry Participation Code (Materially Large Contract Definition) Amendment 2026, made under section 38 of the Electricity Industry Act 2010 (“Act”) on 13 May 2026.

2. The amendment comes into force on 1 July 2026.

3. The amendment clarifies aspects of the definition of a materially large contract (MLC) in Part 13 of the Electricity Industry Participation Code (“Code”), including to make clear that it excludes bilateral contracts where the final price is at least the same as the spot price or an equivalent exchange-traded derivative or derivatives, and to adequately account for new intermittent generation when assessing whether a contract meets the MLC threshold.

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 Authority’s website at: https://www.ea.govt.nz/code-and-compliance/the-code-electricity-industry-participation-code-2010/.

6. A copy of the amendment and the Code may also be inspected free of charge or purchased from the Authority, Level 7, Aon Centre, 1 Willis Street, Wellington.

Dated at Wellington this 13th day of May 2026.

ERIK WESTERGAARD, Acting Chair, Electricity Authority.