The Electricity Authority has reviewed the undesirable trading situation (UTS) provisions in the Electricity Industry Participation Code 2010. This review has not identified a need for any fundamental changes, but has highlighted a number of areas where the Code could be improved. These are:
- The definition of a UTS is unclear in some respects.
- There is currently no time limit on how far into the past the Electricity Authority may initiate a UTS investigation. This detracts from industry certainty because final prices may be republished as part of a UTS remedy.
- The remedy provisions are unclear in some respects, and could impede the adoption of the most efficient UTS remedy at times.
The Electricity Authority is proposing a number of Code amendments to address these issues, which are set out in a consultation paper.
Submissions close on 1 May 2013. Click here for further details.