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

 

Finance: Major Campaign To End "Gross Overtaxation Of Savings"

The campaign – which includes a special web site through which New Zealanders can e-mail their own and other MPs and party leaders – is backed by Age Concern, Consumer NZ, the Financial Services Council and the Taxpayers’ Union. More>>

ALSO:

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news