Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Direct electricity market participant guide for customers

Friday, 6th June 2014

Media release by the Major Electricity Users’ Group (MEUG)


Medium sized commercial and industrial power users’ can reduce costs by becoming direct market participants – MEUG launches guide

“Medium and large sized commercial and industrial power users’ can reduce electricity costs, in some cases saving $10,000’s per year, by becoming direct wholesale market participants” said Ralph Matthes, Executive Director of the Major Electricity Users’ Group, when announcing the publication of a guide to become a direct market participant.

“Improvements in the rules (the Code) and transparency of the wholesale market, better techniques to manage demand response to peak spot prices, competition and innovation in hedge products have lowered the costs for large power consumers to consider the benefits of being a direct market participant instead of relying on retailers and agents to intermediate.

“The guide will assist businesses take the first step of assessing if further investigation is warranted. MEUG emphasizes that the guide is not comprehensive and recommends expert assistance is used to develop company specific proposals to become a direct market participant.

“Each of the power users will have different needs and risk strategies and will need to do due diligence. For some the maths will work and for others it won’t. The guide is intended to help demystify the complexity and separate critical issues from other mandatory requirements that, while involved, are not difficult to complete with the right advice.

“The Code, technology and risk management products are continuously evolving. MEUG intends to revise this guide taking into account feedback from interested end consumers and as significant changes occur in the market. Over time we expect the demand threshold at which it is economic for consumers to become direct market participants will decrease and this will in turn put more competitive pressure on retailers to innovate to avoid losing market share” concluded Mr Matthes.

A copy of the guide is available at http://www.meug.co.nz/Site/Publications.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news