Electricity Commission now overseeing electricity market
In the past, the electricity market and system operations have been organised through a joint agreement between
electricity industry members such as line companies, generators and retailers. From today, 1 March, the Electricity
Commission has assumed responsibility for electricity market and system operations.
Electricity Commission Chair, Roy Hemmingway, said that the transition from the self-regulated environment had gone
smoothly, thanks to the efforts of all electricity market participants. This handover is a shift from industry
self-regulation to independent oversight of the market by the Electricity Commission.
"Our Commissioners appreciate the huge amount of effort on the part of all market participants in preparing for this
handover."
Mr Hemmingway said that the Electricity Commission was now focused on finishing staff recruitment and was beginning to
get to grips with its extensive work programme. This includes consideration of security of supply issues, facilitating
appropriate investment in transmission facilities and improving market operations.
"We are committed to keeping all interested parties informed of our progress. In the meantime, ordinary consumers will
not be affected by the handover from the self-regulated management of the electricity market."
The Electricity Commission has been set up by Government to govern the electricity sector. Its principal objective is to
ensure that electricity is generated, conveyed and supplied to all classes of consumers in an efficient, fair, reliable
and environmentally sustainable manner. See http://www.electricitycommission.govt.nz/ for further information.