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Commercial market making scheme
Details
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Tender Closed
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Tender Cancelled
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| RFx ID : | 23764610 |
| Tender Name : | Commercial market making scheme |
| Reference # : | |
| Open Date : | Q4 2020 |
| Indicative RFx Release Date : | Q4 2022 [?] |
| Tender Type : | Future Procurement Opportunity (FPO) |
| Project Status : | Initial development [?] |
| Tender Coverage : | Sole Agency [?] |
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| Required Pre-qualifications : | None |
| Contact : |
HME Procurement commercialmarketmaking@ea.govt.nz |
In January the Electricity Authority will release a Request for Information to help inform key decisions regarding establishment of a commercial market making scheme for New Zealand Electricity Futures contracts.
The Authority wants to establish an efficient commercial market making scheme through the initial appointment of one or more commercial market makers to provide market making services along with the existing set of regulated market makers.
Commercial providers can be based locally or internationally and will be paid a fee for providing market making services. The fee will be determined via a competitive tender.
The Request for Information will outline the design of the commercial scheme; and seek feedback on assumptions and aspects requiring further development.
The Authority wants to hear from potential commercial scheme service providers - parties interested in providing commercial market making services under the commercial scheme.
It is important that market making services support a robust forward price curve and enable efficient risk management for the long-term benefit of consumers. Respondents’ feedback will be considered as we set up a commercial scheme that efficiently meets the needs of New Zealand electricity consumers.
Email your contact details to commercialmarketmaking@ea.govt.nz to be notified when the RFI is released in January 2021.
The Authority will use the information provided by respondents to further develop the commercial scheme and shape the next stages of the procurement process. The Authority intends to undertake two further stages of procurement consisting of:
• an open Registration of Interest to identify a shortlist of potential commercial scheme service providers;
• a closed Request for Proposal to shortlisted respondents with the objective of appointing one or more service providers to provide commercial market making services.
For more information on the stages of the procurement process and what the new market making scheme could look like please see our website, https://www.ea.govt.nz/development/work-programme/risk-management/hedge-market-development/commercial-scheme/
