NZX
30/10/2015 09:18
GENERAL
PRICE SENSITIVE
REL: 0918 HRS NZX Limited
GENERAL: NZX: EA & NZX sign market operator service provider agreements
The Electricity Authority (the Authority) and NZX are pleased to announce
they have today signed the agreements relating to NZX's appointment as
supplier for all four market operator service provider roles tendered by the
Authority.
The roles are integral to the operation of New Zealand's electricity market,
enabling industry participants to buy and sell electricity on the spot
market.
Following the tender process, the Authority announced in August that NZX was
the preferred supplier for the four roles (which NZX currently performs):
o Clearing manager
o Reconciliation manager
o Pricing manager
o Wholesale information and trading system (WITS) manager
The new eight year agreements start on 1 May 2016 and include a three year
renewal option. The total combined value of the contracts over the initial
eight year term is approximately $41 million.
In the first three years NZX will be focussed on developing the market's
trading system to improve data accessibility and increase usability.
Electricity Authority General Manager, Market Services Fraser Clark
commented: "The Authority's focus through the retender process was to ensure
that the services and systems will be flexible and scalable to cater for
changing market requirements, can be further developed in a timely and
cost-effective manner, and will be resilient to potential systems failures
and outages. We were also focused on ensuring value for money."
"The Authority looks forward to working with NZX to operationalise these new
service provider agreements and ensure that the services are delivered to a
high standard," Clark commented.
NZX CEO Tim Bennett commented: "Our reappointment highlights NZX's
independent market status and the 20 years of experience we have had
providing these services to the electricity sector."
"NZX is committed to working closely with the Authority to meet its statutory
objectives relating to competition, reliability and efficiency for the
long-term benefit of consumers."
For more information:
Electricity Authority
Nicky Chilton
Communications Manager
021 321 831
NZX
Kate McLaughlin
Head of Communications
027 533 4529
End CA:00272566 For:NZX Type:GENERAL Time:2015-10-30 09:18:39
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