New Zealand Gazette – 2008 – No. 92

Page 2483

✨ Energy Market Regulations



4 JUNE 2008 NEW ZEALAND GAZETTE, No. 92 2483

System operation and wholesale and related markets

  1. The Commission should promote and facilitate efficient and well-functioning markets and related arrangements for:

• common quality and real-time security

• dispatch and pool rules

• reconciliation and settlement

• information disclosure to improve market efficiency, including:
ο aggregate hedge and contract prices and volumes
ο offers by generators

• minimum prudential standards

• hedge market transparency and liquidity.

Transmission risk management

  1. The Commission should oversee the development of arrangements that will enable market participants to manage financial risk in respect of transmission losses and constraints.

  2. The product developed should include the following broad principles:

• realistic long-term risk management mechanisms should be made available to all parties that face financial risks arising from spot price effects caused by transmission losses and constraints;

• economic efficiency, including the integrity of price signals, should be maintained or improved; and

• solutions should be pragmatic and not overly complex to use.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2008, No 92


Gazette.govt.nz — PDF NZ Gazette 2008, No 92




✨ LLM interpretation of page content

🏭 System operation and wholesale and related markets (continued from previous page)

🏭 Trade, Customs & Industry
Energy market, security standards, dispatch rules, settlement, information disclosure, hedge market

🏭 Transmission risk management

🏭 Trade, Customs & Industry
Financial risk, transmission losses, constraints, risk management mechanisms, economic efficiency