Authority's Proposal to close the retailer debt deferral scheme
01 – 15 Sep 2020
The Authority has published a consultation paper on the potential closure of the retailer debt deferral scheme.
The consultation paper proposes amending the Electricity Industry Participation Code 2010 (Code) to revoke provisions relating to the retailer debt deferral scheme in November 2020.
The scheme was enacted by urgent amendment to the Code on 20 May 2020 in order to protect against the risk of significant retailer exit due to the extraordinary circumstances resulting from NZ’s COVID-19 lockdown. The Authority is of the view the scheme may no longer be needed to protect retail competition .
The Authority will continue to collect information relating to retailer debt under section 46 of the Electricity Industry Act 2010 regardless of the result of this decision on continuing the Scheme.
The Authority is seeking feedback from participants on whether there are reasons for the retailer debt deferral scheme to remain open until its scheduled expiry on 20 February 2021 . We have elected for a shorter consultation period due to the limited scope of the feedback we are seeking.
Please deliver your feedback by 5pm on Tuesday 15 September 2020.
The Authority generally wants to publish all submissions it receives. However, we recognise that this topic relates to the financial health of participants, which is likely to be commercially sensitive. If you consider that we should not publish any part of your submission, please (a) Indicate which part should not be published (b) Explain why you consider we should not publish that part (c) Provide a version of your submission that we can publish (if we agree not to publish your full submission).
If you indicate there is part of your submission that should not be published, we will discuss with you before deciding whether to not publish that part of your submission.
All submissions we receive, including any parts that we do not publish, can be requested under the Official Information Act 1982. This means we would be required to release material that we did not publish unless good reason existed under the Official Information Act to withhold it. We will consult with you before releasing any material that you said should not be published.
Retailer Debt Deferral Scheme feedback on proposal to close - Consultation paper
Last updated: 12 October 2020