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Pricing Process Improvement Project
Introduction
In late 2006 the Commission started a project to look at the process for calculating final prices. This project started primarily because of concerns about the pricing process, the inputs into pricing, the inability to correct errors, the apparent lack of clarity surrounding the UTS provisions, etc. The Board approved a project plan pdf [165 KB] in September 2006.
Consultation
The Commission published a high level consultation paper entitled “Issues and Indicative Options for the Spot Market Pricing Process and UTS Provisions” on 18 November 2008 and held a public briefing on 10 February 2009.
Summary of Submissions
Submissions were received from 10 parties. The Commission’s summary of submissions pdf [328 KB] includes its response pdf [98 KB]response and proposed course of action on each initiative.
Interim Pricing Period
The Commission is proposing to introduce an interim pricing period which is intended to give participants the opportunity to review prices before they go final. The consultation paper was released on 4 September 2009. This proposal is based on the conceptual framework pdf [182 KB] which has been revised to incorporate submissions on the "Issues and Options" consultation paper.
Relevant WMAG papers or discussions
Below are links to WMAG meetings were relevant papers were presented or discussions held:
+64 4 460 8860
+64 4 460 8879