Standardised Flexibility Product Co-design Group
The Standardised Flexibility Product Co-design Group worked with the Authority to develop a flexibility product for the wholesale electricity market.
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Call for nominations
We are calling for nominations for members to join the Standardised Demand Flexibility Product Co-design Group (Co-design Group).
New members will be voluntarily appointed based on their level of knowledge and experience in the supply and purchase of demand flexibility. We are seeking a broad range of perspectives.
Interested parties are invited to apply by completing the nomination form and returning it to OperationsConsult@ea.govt.nz by 5pm, 25 November 2025.
Role
The Standardised Flexibility Product Co-design Group worked with the Authority to develop a new standardised super-peak hedge contract (started trading from January 2025) and made seven seven recommendations to develop the product and brokered trading events to support liquidity.
The standardised super-peak hedge contract is a risk management tool for wholesale market participants, enabling them to manage spot price risk during the periods when demand is likely highest (mornings and evenings), and intermittent generation (eg, solar farms) may be low. It will provide more information about future electricity prices to inform investment decisions. Ultimately, consumers will benefit from more efficient competition and more affordable electricity supply for New Zealanders.
The Authority is using the revised Hedge Disclosure Obligations to monitor and publish information about flexibility contracts trading as part of a broader suite of competition indicators. This information is informing the decision to implement stronger pro-competition measures, if necessary.
View flexibility hedge products dashboard
The introduction of standardised flexibility products is a key priority for the Electricity Authority. The Energy Competition Task Force included this project as a key measure to enable new generators and retailers to enter and compete in the market. This work also implements recommendation 8 from the Market Development Advisory Group’s report on Price Discovery in a Renewable-Based Electricity System.
The development of an SDFP is part of a broader package of proposed initiatives to reward industrial demand flexibility and support a more resilient electricity system.
Members
This group was made up of eight members appointed for a three-month term by the Electricity Authority (from 30 September 2024) to represent a range of sector knowledge and experience.
- Shaun Goldsbury, BraveTrace, CEO - Chair
- Karl Arns, emhTrade Markets, OTC Solutions Manager/Sales Trader
- Tim Boyce, Contact Energy, Head of Wholesale Markets
- Matt Carnachan, Hiringa Energy, Head of Trading and Energy Markets
- Nick Haines, The Energy Collective, Group CFO
- Michael Jefferson, Enel X, Head of Development and Innovation
- Paul Morrison, Meridian Energy, Financial Product Owner
- James Tipping, Vector, General Manager Market Strategy/Regulation
Meeting minutes
We have published all of the group's meeting minutes for transparency.
Webinar
The group announced its recommendations at a webinar on 18 December 2024.