System Operation and Wholesale Market
| Submission |
Officials' Response |
| Para 87 – Transpower – notes what while previous section on financial transmission rights (FTRs) has been deleted, what has replaced it includes the overall aims FTRs sought to achieve. |
Noted. |
| Para 87 – Transpower – Recommends last bullet in para 87 is re-phrased as 'solutions should balance economic efficiency with pragmatism, and provide a system that is not overly complex to use.' Some good products in this area are simple to use but require complex software, and it would be inappropriate to rule them out. |
Agree – the words 'to use' have been added to the end of the sentence. Economic efficiency is included in the bullet point above, and the Commission is expected to balance objectives. |
| Para 87 – Transpower – recommends adding a fourth bullet 'so that participants can hedge their varied and changing financial contract exposures, the product should be tradable between participants, provided this is feasible and economically desirable. |
Noted. This issue is covered by the second bullet regarding economic efficiency and should be consulted as a design detail by the Commission. |
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