Thursday, 11 March 2021, 7:39 am
The Authority today released a consultation paper on the
proposed actions to correct the 2019 undesirable trading
situation (UTS).
In December 2020 the Authority’s
Board concluded there was a UTS between 3 and 27 December
2019. The decision followed a year-long investigation into a
claim made by Haast Energy Trading, Ecotricity, Electric
Kiwi, Flick Energy, Oji Fibre, Pulse Energy Alliance and
Vocus (the ‘claimants’) in late December 2019.
The
Electricity Industry Participation Code requires the
Authority to attempt to correct a UTS and restore the market
to normal operation as soon as possible.
James
Stevenson-Wallace, Chief Executive of the Authority says The Authority’s role is to develop and enforce market