Review of Reserve Energy Policy [Closing date: 2007/10/15 17:00:00 GMT+13]

The Government Policy Statement (GPS) includes a requirement that the Commission engage an independent party to review the efficiency and effectiveness of the reserve energy regime and recommend improvements to the Minister of Energy. Castalia Strategic Consultants (Castalia) was engaged to undertake this review.  Castalia’s Review made a number of recommendations to the Commission. 

One of the main Review recommendations was that the optimal security standard should be determined on an economic basis.  The Commission has undertaken the detailed market simulation work to establish the optimum security standard recommended by Castalia.

The Review of Reserve Energy Policy Consultation Paper sets out the Commission’s conclusions on Castalia’s recommendations and outlines the proposed recommendations to the Minister of Energy.

• Consultation paper pdf [462 KB]

Review of Reserve Energy Policy: Energy Margin Modelling

On 18 September the Commission released the paper Review of Reserve Energy Policy Consultation Paper which sets out the Commission’s conclusions on Castalia’s review and recommendations of the reserve energy policy and outlines the proposed recommendations to the Minister of Energy. At a high level Section 5 of the consultation paper describes the modelling work undertaken to define an optimal security standard. The Commission is aware that there may be interest in a more detailed description of the modelling work undertaken. To address this interest the Commission is preparing, in a presentational format, a more detailed description of the modelling work undertaken.

• ModellingReportV3.Energy Marging Modelling pdf [275 KB]

The Commission invites submissions on the proposal by 5pm on 15 October 2007. 

The Commission’s preference is to receive submissions in electronic format (Microsoft Word). The electronic version should be emailed with “Submission - Review of Reserve Energy Policy” in the subject header to info@electricitycommission.govt.nz.

If you wish to submit a hard copy of the submission, it should be posted to the address below.

Jenny Walton
Electricity Commission
Level 7, ASB Tower
2 Hunter Street
P O Box 10041
WELLINGTON

Tel:  (04) 460 8858
Fax:  (04) 460 8879

The Commission will acknowledge receipt of all submissions electronically. Please contact Jenny Walton if you do not receive electronic acknowledgement of your submission within two business days.

Your submission is likely to be made available to the general public on the Commission’s website. Submitters should indicate any documents attached, in support of the submission, in a covering letter and clearly indicate any information that is provided to the Commission on a confidential basis. All information provided to the Commission is subject to the Official Information Act 1982.