NZX is pleased to announce that the Electricity Authority has renewed four service provider contracts under which NZX provides services to New Zealand’s wholesale electricity market.
The contracts are for the roles of: (a) reconciliation manager; (b) pricing manager; (c) wholesale information and trading system (WITS) provider; and (d) clearing manager, and were due to expire on 1 May 2013.
The Authority has notified NZX that it is exercising its option to renew the contracts for a second term, which will now expire on 1 May 2016. At the expiry of the second term, the Authority may renew for a third term lasting three years.
As part of the negotiations ahead of the renewal, the Authority and NZX have agreed variations to the agreements, including a reduction in fees and commitment to a development programme.