Accountability Requirements
121. The accountability and reporting requirements for the Electricity Commission are set out in Part 15 subpart 2 of the Electricity Act 1992 and Part V of the Public Finance Act 1989.
122. The Government expects the Commission to prioritise work on the objectives and outcomes set out in this Government Policy Statement. The Government recognises that the Commission has a substantial task in front of it, and that it will take time to develop its capabilities and expertise. In terms of the Government's high level expectations, priority should be given to:
- Managing security of supply and implementing the reserve energy mechanism
- Working with Transpower and grid users to facilitate priority investment in the grid
- Promoting efficient use of electricity
- Improving hedge market transparency and liquidity and demand-side participation.
123. In addition to the reporting requirements set out in legislation, the Commission should report at least quarterly to the Minister of Energy on progress against the Government's expectations in this Government Policy Statement.
Levy Payments
124. The Government will seek an appropriation each year from Parliament to make payments to the Commission to enable it to perform its functions, powers and duties. These costs are to be recovered by way of levy from every industry participant (or class of industry participants) prescribed by regulations under section 172ZC of the Electricity Act 1992.
125. The Act requires the Commission, in preparing and recommending to the Minister its proposed appropriation, to consult with affected parties, and to advise the Government of the outcome of those consultations.
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