The Critical Contingency Operator (CCO) has declared a critical contingency at 10:50 on 23 May. Further information can be found on the CCO's website here.
On 28 April 2015, Gas Industry Co released its Final Recommendation on the 10 October 2014 Maui Pipeline Operating Code (MPOC) Change Request on market-based balancing (MBBCR) proposed by Maui Development Limited.
On the basis of our analysis of the MBBCR, our consideration of submissions and cross-submissions received, and of Gas Act and GPS objectives, as well as giving due attention to an independent Cost-Benefit Analysis (CBA) prepared by Dr John Small of Covec Limited, Gas Industry Co’s Final Recommendation supports the MBBCR.
The Final Recommendation incorporates the Covec CBA – Market Based Balancing on the Maui Pipeline: Cost Benefit Analysis. This concluded that the net economic effect of MBB is positive.
The outcome confirms Gas Industry Co’s interim support for the MBBCR of the Draft Recommendation published on 25 February 2015. The Final Recommendation and CBA take account of stakeholder feedback received in works shops on the Draft Recommendation in Wellington and Auckland during March 2015, as well as formal submissions on the draft document.
Gas Industry Co concluded that, overall, MBB represented broad alignment with Gas Act objectives, and an improvement on current balancing arrangements.