Stock Takes: Contact, Meridian cleared; Cavalier CEO resigns
22 Apr, 2021 05:30 AM
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Meridian and Contact have been cleared following an investigation into the spilling of water from their South Island dams. Photo / Grant Bradley
Meridian and Contact have been cleared following an investigation into the spilling of water from their South Island dams. Photo / Grant Bradley
The Electricity Authority said it had found that neither Meridian nor Contact had breached trading provisions following an undesirable trading situation (UTS) complaint made by group of power companies. Haast Energy Trading, Ecotricity, Electric Kiwi, Flick Electric, Oji Fibre, Pulse Energy Alliance and Vocus claimed that a UTS involving the spilling of water from November 2019 through to January 2020.
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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
Press Release – Electricity Authority The Authority today released a consultation paper on the proposed actions to correct the 2019 undesirable trading situation (UTS). In December 2020 the Authoritys Board concluded there was a UTS between 3 and 27 December 2019. The decision followed …
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.