Electricity Authority to investigate agreements with NZX and Jade Software

The agreements, which are in effect till April 2016, cover clearing manager, pricing manager, reconciliation manager, and the wholesale information trading system (WITS) with NZX. Jade is the registry manager

The Electricity Authority is to investigate whether its market operation service provider (MOSP) agreements with NZX and Jade Software are likely to be fit for purpose beyond May 2016.

The agreements, which are in effect till April 2016, cover clearing manager, pricing manager, reconciliation manager, and the wholesale information trading system (WITS) with NZX. Jade is the registry manager.

The authority is engaging a consultant to undertake a review of the five MOSP roles and the ICT associated with those roles.

The review will make recommendations about the extent to which the roles and their associated ICT remain suitable for the evolving requirements of New Zealand’s electricity markets, looking ahead up to 10 years, whether they can be delivered in a timely and cost-effective manner over the next 10 years, and whether they are resilient to potential system failures and outages.

The authority is responsible for ensuring the effective day-to-day operation of New Zealand’s electricity system and electricity markets.

In a background briefing notes, the authority says the systems are reasonably complex and must be highly interoperable with the industry participants’ systems, which provide the primary data inputs.

“As the MOSP roles have changed over the years, so too have the associated ICT, invariably with the ICT becoming increasingly complex,” the authority says.

WITS became an Internet-based system in the late 1990s, the first electricity trading system in the world to be accessible via the Internet.

The roles of clearing manager, pricing manager, reconciliation manager, registry manager and WITS provider were last tendered for in 2007. Each contract was renewed for a further three years, effective from 1 May 2013.

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Tags NZXElectricity Authoritymarket operation service providerJade Software

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