22 Jul 2011

Publication of spot market prices delayed

12:20 pm on 22 July 2011

The Electricity Authority has agreed to delay the publication of corrected spot market prices, after a last-minute request by Contact.

Prices reached almost $20,000 per megawatt hour in late March due to a planned maintenance shutdown, causing an outcry and prompting the authority to reset prices at $3000 per megawatt hour to maintain the integrity of the market.

Three companies - Bay of Plenty Energy Todd Energy, Contact Energy and Genesis Power - have since appealed the authority's decision.

The authority says a case management conference on the case will be held on Monday at the High Court at Wellington, which will give the parties a chance to discuss the merits of a delay.

It says it will put off a decision about publishing the prices until it receives any directions from the court conference.