The New Zealand Wind Energy Association (NZWEA) is pleased to provide our submission on the Hedge Market Enhancements: Commercial market-making scheme.

•  This submission outlines the Associations support of EA's sustainable and fit-for purpose market making goals and further development of market making arrangements.

• As per the previous submission (2020) made by the Association is in support of a commercial market making scheme, including commercial incentives, a mandatory backstop arrangement, and the need to encourage wide participation, by employing a suitable model that allocates costs to beneficiaries fairly and recognises the value of market making.

• The Association's recognition of the importance of ensuring the alignment of regulated and commercial market-making obligations to properly transition to a fully incentivised arrangement.

• Recognising the need to enhance the hedge market by extending the duration and introducing new products such as a cap offering.

Another submission on wholesale market competition in response to the Electricity Price Review (EPR) First Report (October 2018), Options Paper (March 2019) and the Electricity Authority’s (EA) November 2019 Hedge Market Enhancements (market making) and Hedge Market Enhancements Market Making 2020, has also been shared.

For a full copy of the submission please click below.