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Monitoring, compliance and enforcement

Improving our information gathering framework

Enhancing the framework in the Code for the Electricity Authority’s information gathering.

  • Code
  • Compliance

    • Overview

    The New Zealand electricity market is changing fast. This puts increased emphasis on us to be well-informed to effectively perform our statutory functions (as prescribed in the Electricity Industry Act 2010).

    Our Board approved an amendment to Part 2 of the Code to enable us to publish notices requiring industry participants to submit specific information to us. On 1 August 2022 the Regular and Event-Driven Provision of Information to the Authority Code amendment came into force.

    This Code amendment delivers greater durability of market arrangements, better and more informed Code development and a streamlined approach to the mandatory regular provision of information to the Electricity Authority. Read the decision paper.

    View notices published under Clause 2.16 of the Code.

    Timeline

    Past activity

    Project background

    The Electricity Authority collects information via a range of methods to undertake its statutory functions. We have found that our current information collection approaches can fail to provide sufficient and timely information to effectively carry out our monitoring functions.

    There are important economic costs associated with collecting insufficient information to perform our monitoring functions effectively. For example:

    • Policy initiatives are less likely to be informed from a sound evidence base, which reduces their expected efficiency benefits, and increases the likelihood of revisiting the same policy settings in short order. This comes at the cost of addressing more pressing issues.
    • There tends to be greater policy uncertainty, which translates into investors requiring a higher rate of return on their investments in the electricity industry.

    To address this issue, we have amended Part 2 of the Code. This will make it easier for industry participants to provide ongoing information to us and for us to engage with participants over requirements for the ongoing provision of information.

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