Electricity Authority wrong to rule out undesirable trading situation, high court says

Genesis Energy did not offer Huntly Rankine Unit 4 to the market on one of the coldest nights of 2021. (Image: NZME)

Fri, 01 Mar 2024

The high court has found the Electricity Authority was wrong to rule there was not an undesirable trading situation on one of the coldest nights of 2021, when New Zealand faced its largest power demand peak on record.After the ruling, the crown entity said it would investigate a possible undesirable trading situation (UTS) relating to the night of Aug 9, 2021.A UTS in the electricity market is an extraordinary event that threatens, or may threaten, confidence in or the integrity of the wholesale electricity market.Undesirable practices by a buy...

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