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

 

Inviting Local And International Market Makers To Provide Services To The New Zealand Electricity Futures Market

The New Zealand Electricity Authority has a services contract opportunity for providers of market making services to support the New Zealand wholesale electricity futures market.

The Authority reviewed market making arrangements in the New Zealand futures market throughout 2020 and decided to procure market making services on a commercial basis.

The Authority is inviting organisations interested in providing market making services to give feedback on its proposed commercial market making scheme through a Request For Information (RFI), released today.

"We are looking to procure additional commercial market makers into the New Zealand futures market to increase market diversity, strengthen competition and improve the robustness of the forward price curve," says James Stevenson-Wallace, Chief Executive of the Electricity Authority.

"We want organisations interested in providing market making services to send feedback through our RFI, which will inform the final design of a commercial market making scheme that most efficiently meets the needs of New Zealand electricity consumers."

The NZ electricity futures market is hosted on the Australian Securities Exchange (ASX). This market is currently supported by market making services provided by New Zealand’s four largest electricity generator-retailers: Contact Energy Limited, Genesis Energy Limited, Mercury NZ Limited and Meridian Energy Limited.

Commercial providers can be based locally or internationally and will be paid a fee for providing market making services. The fee will be determined via a competitive tender later this year.

The RFI is published on GETS.govt.nz, the New Zealand Government’s procurement portal and is open until 5pm 12 March 2021.

After the close of the RFI, the Authority will develop the final scheme design. The Authority will then initiate a formal procurement process, by seeking Registrations of Interest (ROI) from interested parties, compile a shortlist of suppliers and seek proposals through a Request for Proposal (RFP). For more information on the stages of the procurement process and link to the RFI, see the Authority’s website.

To contact the Authority or to register to receive an invitation to the upcoming workshops on the topic, please email commercialmarketmaking@ea.govt.nz.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>

Sci-Tech: Perseverance Rover Lands On Mars – Expert Reaction

NASA has landed a car-sized rover on the red planet to search for signs of past life. The vehicle has more instruments than the four rovers preceding it, and it’s also carrying gear that could help pave the way for human exploration of Mars. The ... More>>

ALSO:


ASB: Quarterly Economic Forecast Predicts OCR Hike As Early As August 2022

Predictions of interest rate rises have been brought forward 12 months in ASB’s latest Quarterly Economic Forecast. Chief Economist Nick Tuffley now expects the RBNZ to begin raising the OCR from its current level of 0.25% as early as August ... More>>

Real Estate: House Price Growth Rates In Hawke’s Bay Skyrocket Ahead Of Rest Of New Zealand

Hawke’s Bay is leading the property ‘pack’ proving a post lockdown land of milk and money, continuing to outstrip the rest of the country with the highest annual growth rate in house price values. But experts warn an overheated market is fast ... More>>

ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>

OECD: Unemployment Rate Stable At 6.9% In December 2020, 1.7 Percentage Points Higher Than In February 2020

The OECD area unemployment rate was stable at 6.9% in December 2020, remaining 1.7 percentage points above the level observed in February 2020, before the COVID-19 pandemic hit the labour market. [1] In December, the unemployment rate was also stable ... More>>

Stats NZ: Unemployment Drops To 4.9 Percent As Employment Picks Up

The seasonally adjusted unemployment rate dropped to 4.9 percent in the December 2020 quarter, from 5.3 percent in the September 2020 quarter, Stats NZ said today. Last quarter’s unemployment rate of 5.3 percent followed the largest increase observed ... More>>