Overview

Our work on information disclosure was established to consider whether current market arrangements related to information disclosure are sufficient or whether further arrangements are required.

Gas Industry Co has held discussions with industry and wider energy sector participants to understand their perspectives on information disclosure in the gas sector.  Several parties expressed concern that, from time-to-time, good information has not been made available to all stakeholders and are calling for higher levels of information disclosure.

On 25 July 2018, the Minister of Energy and Resources Hon Dr Megan Woods wrote to Gas Industry Co requesting that it investigate whether the existing arrangements for industry participants to disclose information that could have an impact on the downstream gas market were adequate. The letter highlighted the recent Pohokura pipeline outage as an example of an occasion where a higher level of information disclosure may have been warranted. The letter from the Minister, and Gas Industry Co’s response are available below.

Recognising the above, a new workstream on information disclosure has been set up. The workstream will consider whether current market arrangements related to information disclosure are sufficient or whether further arrangements are required. An Options Paper on Information Disclosure was released in early March 2019 for consultation. The paper lays out a set of options for the industry to consider.

Related Documents

  • Letter from Hon Dr Megan Woods re Information Disclosure - 25 July 2018
    100 KB Adobe Acrobat PDF file
  • GIC response to the Minister re Information Disclosure - 16 August 2018
    961 KB Adobe Acrobat PDF file

Final Proposal

In January 2021 we released our Draft Statement of Proposal: Gas Production and Storage Facility Outage Information for consultation. We received 16 submissions.  

These views were used to inform the development of the Final Statement of Proposal: Gas Production and Storage Facility Outage Information below. The paper assesses the problems with inadequate production and storage facility outage information and identifies options for addressing these issues. 

The date for submissions closed on 26 August 2021, with Gas Industry Co having received 9 submissions. These submissions are available below. 

Related Documents

  • Sapere Review of CBA Submissions
    175 KB Adobe Acrobat PDF file
  • Final Statement of Proposal: Gas Production & Storage Outage Information
    1.2 MB Adobe Acrobat PDF file

Submissions

  • emsTradepoint Limited
    emsTradepoint Submission Final Statement of Proposal for Production and Storage Facility Outage Information 158 KB Adobe Acrobat PDF file
  • Trustpower Limited
    Trustpower submission on GIC final SOP for production and storage outage information 273 KB Adobe Acrobat PDF file
  • Firstgas
    FG Submission on Final SoP for Production Storage Outage Information August 2021 426 KB Adobe Acrobat PDF file
  • Vector Limited
    Vector Submission Final SoP for Production and Storage Facility Outage Information 147 KB Adobe Acrobat PDF file
  • Major Gas Users Group
    MGUG Submission onSOP for Production Storage Facility Outage Information 104 KB Adobe Acrobat PDF file
  • Haast Energy
    Haast submission Gas Production and Storage Facility Outage Information 316 KB Adobe Acrobat PDF file
  • OMV New Zealand Ltd
    OMV Submission GIC Information Disclosure 84 KB Adobe Acrobat PDF file
  • Todd Energy
    Todd GIC Gas producers Outage Disclosures 1 September 2021 137 KB Adobe Acrobat PDF file
  • Energy Resources Aotearoa
    Energy Resources Aotearoa Submission Final Statement of Proposal for Production and Storage Facility Outage Information 228 KB Adobe Acrobat PDF file

Draft Proposal

On 17 December 2020, Gas Industry Co released its Draft Statement of Proposal: Gas Production and Storage Facility Outage Information paper for consultation.

The paper sets out a draft Statement of Proposal for the disclosure of gas production and storage facility outage information and seeks parties’ views on the various matters included in the assessment. These views will be used to inform the development of the final Statement of Proposal.

The date for submissions closed on 4 March 2021, with Gas Industry Co having received 16 submissions. These submissions are available below.

Related Documents

  • Cost Benefit Analysis of Information Disclosure in the Gas Industry
    386 KB Adobe Acrobat PDF file
  • Draft Statement of Proposal for Production Storage Facility Outage Information
    1.2 MB Adobe Acrobat PDF file
  • Submissions Template - Disclosure of Gas Production and Storage Facility Outages
    28 KB Word document

Submissions

  • Greymouth Gas New Zealand Limited
    GGNZ Submission to GIC on draft SOP re Gas Production and Storage Facility Outages 280 KB Adobe Acrobat PDF file
  • Trustpower
    Trustpower submission to Draft statement of proposal for production and storage FINAL 261 KB Adobe Acrobat PDF file
  • Genesis Energy Ltd
    Genesis Energy Gas Production and Storage Facility Outage Information 224 KB Adobe Acrobat PDF file
  • Todd Energy Limited
    Todd Energy Submission Gas Production and Storage Facility Outage Information 1.5 MB Adobe Acrobat PDF file
  • Vector Limited
    Vector Submission Draft SoP for Production and Storage Facility Outage Information 172 KB Adobe Acrobat PDF file
  • First Gas Limited
    FG Submission on SoP for Production Storage Outage Information 235 KB Adobe Acrobat PDF file
  • emsTradepoint Limited
    Draft Statement of Proposal Gas Production and Storage Facility Outage Information submission emsTradepoint 168 KB Adobe Acrobat PDF file
  • Contact Energy
    Contact Energy Gas Production and Storage Facility Outage Information 138 KB Adobe Acrobat PDF file
  • EMS Tradepoint
    EMS Tradepoint Gas Production and Storage Facility Outage Information 168 KB Adobe Acrobat PDF file
  • Haast Energy Trading
    Haast Gas Production and Storage Facility Outage Information 85 KB Adobe Acrobat PDF file
  • Mercury
    Mercury Gas Production and Storage Facility Outage Information 114 KB Adobe Acrobat PDF file
  • Meridian Energy
    Meridian Gas Production and Storage Facility Outage Information 107 KB Adobe Acrobat PDF file
  • Major Gas Users Group
    MGUG Gas Production and Storage Facility Outage Information 110 KB Adobe Acrobat PDF file
  • OMV
    OMV Gas Production and Storage Facility Outage Information 1.2 MB Adobe Acrobat PDF file
  • PEPANZ
    PEPANZ Gas Production and Storage Facility Outage Information 1 169 KB Adobe Acrobat PDF file
  • Transpower NZ Ltd
    Transpower Gas Production and Storage Facility Outage Information 134 KB Adobe Acrobat PDF file

Problem Assessment

Gas Industry Co's consultation on its paper Information Disclosure: Problem Assessment closed on Monday 9 December 2019. Submissions received are available below.

Based on our March 2019 Options Paper and related submissions, the Information Disclosure: Problem Assessment paper (found below) identifies several specific information areas or ‘information elements’ where we consider there could be information transparency or asymmetry issues. The paper assesses these information elements against the Government’s policy objectives for the sector as identified in the Gas Act (1992) and the Government Policy Statement on Gas Governance 2008 (GPS).  

Key Areas

On 15 May 2020, Gas Industry Company released its Analysis of Submissions on its October 2019 consultation paper: Information Disclosure: Problem Assessment. The Analysis of Submissions is found below in Related Documents. 

The Information Disclosure: Problem Assessment paper released in October 2019 for consultation identified several specific information areas or ‘information elements’ where Gas Industry Company considers there could be information transparency or asymmetry issues.  The paper assesses these information elements against the Government’s policy objectives for the sector as identified in the Gas Act (1992) and the Government Policy Statement on Gas Governance 2008. In December 2019, at the close of our consultation period, we received nineteen submissions on the paper.

The submissions received were generally in agreement with Gas Industry Company’s assessment of the discussed ‘information elements.’ However, there were three elements where parties had differing views. These were contract price and volume information, forecasts of major users’ gas consumption and major gas user facility outages. Given the range of views that we received in submissions on these three matters we gave submitters a further opportunity to comment on these elements through a cross-submissions process.  Eleven cross submissions were received at the close of the consultation period. 

The Problem Assessment paper from October 2019 and the submissions on the paper can be found here

 

Disclosure of Major Gas User Facility Outage Information - Independent Review

To assist parties with the above mentioned cross-submissions, specifically submissions relating to the disclosure of major gas user facility outage information, Gas Industry Company has retained an industry expert (John Bay, Contract Strategies Ltd) to provide his independent views of the issues associated with the disclosure of Methanex’s planned and unplanned plant outages.  Methanex, being the largest major gas user in the industry, has been at the centre of many of the submitted views associated with major gas user outage disclosure.  The paper that the expert has developed is available below.

Related Documents

  • Independent Review - Contract Strategies Ltd - February 2020
    453 KB Adobe Acrobat PDF file
  • Problem Assessment Paper - Analysis of Submissions and Next Steps
    528 KB Adobe Acrobat PDF file
  • Problem Assessment - Cross-submissions questions
    74 KB Adobe Acrobat PDF file

Submissions

  • Greymouth Gas New Zealand Limited
    GGNZ Letter to GIC on Info Disclosure Cross Submission March 2020 129 KB Adobe Acrobat PDF file
  • Major Gas Users Group
    2020 03 MGUG Cross submission Submission on Information Disclosure 578 KB Adobe Acrobat PDF file
  • OMV New Zealand Ltd
    Information Disclosure Problem Assessment X Submission submitted 1.1 MB Adobe Acrobat PDF file
  • Mercury
    Mercury submission Information Disclosure Problem Assessment Cross Submission 143 KB Adobe Acrobat PDF file
  • emsTradepoint Limited
    etp Cross Submission on Problem Assessment 11 March 2020 130 KB Adobe Acrobat PDF file
  • Electricity Authority
    Electricity Authority Cross submission on problem assessment 20200311 93 KB Adobe Acrobat PDF file
  • Vector Limited
    Vector Cross Submission Information Disclosure Problem Assessment 204 KB Adobe Acrobat PDF file
  • PEPANZ
    PEPANZ Cross Submission on Problem Assessment Paper March 2020 291 KB Adobe Acrobat PDF file

Related Documents

  • Information Disclosure: Problem Assessment
    838 KB Adobe Acrobat PDF file
  • Submissions Template for Information Disclosure Problem Assessment
    21 KB Word document

Submissions

  • First Gas Limited
    Firstgas submission GIC Information disclosure problem assessment 225 KB Adobe Acrobat PDF file
  • Nova Energy Ltd
    Nova submission Information Disclosure Problem Assessment 109 KB Adobe Acrobat PDF file
  • Mercury
    Mercury submission Information Disclosure Problem Assessment 650 KB Adobe Acrobat PDF file
  • Greymouth Gas New Zealand Limited
    GGNZ Letter to GIC on Info Disclosure Problem Assessment 88 KB Adobe Acrobat PDF file
  • Greymouth Gas New Zealand Limited
    Submissions Template for Information Disclosure Problem Assessment GGNZ 130 KB Adobe Acrobat PDF file
  • Electricity Authority
    Response from EA to GICs Information Disclosure Problem Assessment consultation signed 3 MB Adobe Acrobat PDF file
  • Trustpower
    201911 Trustpower submission to GIC information disclosure FINAL 396 KB Adobe Acrobat PDF file
  • Fonterra Co-operative Group Limited
    Fonterra Information Disclosure Problem Assessment submission 108 KB Adobe Acrobat PDF file
  • Vector Limited
    Vector Submission Information Disclosure Problem Assessment 181 KB Adobe Acrobat PDF file
  • OMV New Zealand Ltd
    OMV Problem Statement 9 Dec 2019 61 KB Adobe Acrobat PDF file
  • Haast Energy
    Haast submission Information Disclosure Problem Definition 13 11 2019 203 KB Adobe Acrobat PDF file
  • MEUG
    MEUG to GIC Info Disclosure Problem Assessment 09 Dec 19 556 KB Adobe Acrobat PDF file
  • Transpower
    TP Sub GIC Information Disclosure Problem Assessment 9Dec2019 108 KB Adobe Acrobat PDF file
  • Genesis
    Gas disclosure probassess GNE 381 KB Adobe Acrobat PDF file
  • Meridian
    Meridian Submission Information Disclosure Problem Assessment2 140 KB Adobe Acrobat PDF file
  • Methanex
    Methanex GIC Information Disclosure Submission Dec 2019 164 KB Adobe Acrobat PDF file
  • PEPANZ
    PEPANZ Submission on GIC consultation. 9 Dec 2019 191 KB Adobe Acrobat PDF file
  • emsTradepoint
    emsTradepoint Submission for Information Disclosure Problem Assessment2 368 KB Adobe Acrobat PDF file
  • MGUG
    2019 12 MGUG Submission on GIC Information Disclosure Problem Assessment Final4 560 KB Adobe Acrobat PDF file
  • Contact Energy
    CEN Sub Info discl 201219 151 KB Adobe Acrobat PDF file

Options Paper

Gas Industry Co is pleased to release its Analysis of Submissions on its March 2019 consultation paper: Options for Information Disclosure in the Wholesale Gas Sector (Options Paper).

Twenty submissions were received on the Options Paper from a wide range of parties spanning the New Zealand energy sector. Given the range of perspectives in the submissions, we decided to have a cross-submissions process for parties to provide further information on issues they consider are important. Thirteen cross-submissions were received.

The next step in this work programme will involve the development of a specific problem statement along with particular information disclosure elements. We plan to release a paper on this topic for consultation in October.

The Analysis of Submissions, and other associated documents can be found below.

Background

Last August, we established the information disclosure workstream as an initial step in the process to address potential information issues relating to information availability in the wholesale gas sector. As part of that workstream we will consider whether current market arrangements related to information disclosure in the sector are sufficient or whether further arrangements are required.

We released the Options Paper for consultation in March 2019 and received twenty submissions. The Options Paper sets out a proposed problem statement and discusses the importance of information for the operation of a well-functioning market. The options are described at a concept level and are evaluated qualitatively. Submissions will be used to assist in determining whether there is potential information issue, and if there is an issue, the extent of the issue and the appropriate option for detailed design and evaluation.

 

Key Areas

Gas Industry Co received twenty submissions on the Options Paper for Information Disclosure (Options Paper) from a wide range of parties spanning the New Zealand energy sector. That consultation closed on 17 April 2019. The twenty submissions can be viewed here

There are a number of submissions containing detailed responses to various issues raised in the Options Paper, with some having different perspectives on several issues. For instance, there is a range of perspectives on the issue of which parties should be included in an information disclosure regime. In particular, should major users be included in outage disclosure or forecasts of future consumption?

Given the range of perspectives in the submissions, Gas Industry Co decided to have a cross-submissions process for parties to provide further information on issues they consider are important. Submitters were encouraged to provide examples and background information supporting their positions.

The consultation period for receiving cross-submissions ended on Thursday 27 June 2019. 

Submissions

  • Haast Energy Trading
    Haast cross submission GIC information disclosure PV 184 KB Adobe Acrobat PDF file
  • Greymouth Gas New Zealand Limited
    GGNZ Letter to GIC on Info Disclosure Cross Submissions 2020 80 KB Adobe Acrobat PDF file
  • Trustpower
    201905 Trustpower Cross submissionon Options for Information Disclosure in the wholesale gas sector FINAL 811 KB Adobe Acrobat PDF file
  • emsTradepoint Limited
    emstradepoint cross sub GIC Information Disclosure 27june2019f 362 KB Adobe Acrobat PDF file
  • OMV
    OMV Cross submission GIC Info disclosure 124 KB Adobe Acrobat PDF file
  • Vector Limited
    Vector Cross Submission Information Disclosure for the Wholesale Gas Sector 262 KB Adobe Acrobat PDF file
  • Todd Corporation
    GIC re Cross Submissions on Gas Information Disclosure 27 June Final 956 KB Adobe Acrobat PDF file
  • MEUG
    MEUG to GIC x sub Information Disclosure 27 Jun 19 169 KB Adobe Acrobat PDF file

Related Documents

  • Gas Market Disclosure Meridian Energy AK - March 2019
    893 KB Adobe Acrobat PDF file
  • Options Paper for Information Disclosure
    2.2 MB Adobe Acrobat PDF file
  • Submissions Analysis: Options Paper for Information Disclosure (August 2019)
    285 KB Adobe Acrobat PDF file
  • Submissions Template - Options Paper for Information Disclosure
    323 KB Word document
  • Information Disclosure Workshop Presentation - 27 March 2019
    659 KB Adobe Acrobat PDF file

Submissions

  • Trustpower
    Trustpower submission on Options for Information Disclosure. 364 KB Adobe Acrobat PDF file
  • New Zealand Steel
    NZ Steel Submission on Information Disclosure Apr2019 219 KB Adobe Acrobat PDF file
  • emsTradepoint Limited
    emsTradepoint Sub Options Information disclosure 17April2019 PDF3 181 KB Adobe Acrobat PDF file
  • emsTradepoint Limited
    Information Disclosure Options Paper emsTP PDF3 461 KB Adobe Acrobat PDF file
  • Genesis Energy
    Genesis Energy submission on Options Paper for Information Disclosure 286 KB Adobe Acrobat PDF file
  • Transpower NZ Ltd
    TP Sub GIC Information Discloure 17April2019 361 KB Adobe Acrobat PDF file
  • OMV
    OMV Submission GIC Information Disclsoure signed 1.8 MB Adobe Acrobat PDF file
  • Fonterra Co-operative Group Limited
    Wholesale Gas Disclosure Fonterra 170420 361 KB Adobe Acrobat PDF file
  • Mercury
    GIC consulation on gas wholesale market info disclosure 265 KB Adobe Acrobat PDF file
  • Meridian Energy
    Meridian Submission Wholesale Gas Disclosure Options 17 April 2019 380 KB Adobe Acrobat PDF file
  • MEUG
    MEUG to GIC Information Disclosure 17 Apr 19 140 KB Adobe Acrobat PDF file
  • Electricity Authority
    Electricity Authority response to GIC consultation on information disclosure 3.1 MB Adobe Acrobat PDF file
  • Todd Corporation
    Cover Letter to the GIC re Gas Information Disclosure Final 1.9 MB Adobe Acrobat PDF file
  • Todd Corporation
    Submission Todd Schedule to Submission 88 KB Adobe Acrobat PDF file
  • Todd Corporation
    Submission Todd 447 KB Adobe Acrobat PDF file
  • Greymouth Gas New Zealand Limited
    GGNZ Letter to GIC on Information Disclosure.docx 126 KB Adobe Acrobat PDF file
  • Greymouth Gas New Zealand Limited
    Submission Greymouth 200 KB Adobe Acrobat PDF file
  • MGUG
    2019 04 MGUG Submission on Information Disclosure Final 183 KB Adobe Acrobat PDF file
  • PEPANZ
    Submission PEPANZ 224 KB Adobe Acrobat PDF file
  • Vector Limited
    Vector Submission Options for Information Disclosure in the Wholesale Gas Sector 342 KB Adobe Acrobat PDF file
  • Methanex New Zealand Ltd
    Methanex GIC Information Disclosure Submission FINAL 544 KB Adobe Acrobat PDF file
  • Contact Energy
    CEN GIC Info Discl Submission letter 170419 37 KB Adobe Acrobat PDF file
  • Contact Energy
    Submissions Questions for Options Paper for Information Disclosure ID 30280 1 130 KB Adobe Acrobat PDF file
  • Energy Link Ltd
    ELL submit info disc Apr 19 206 KB Adobe Acrobat PDF file
  • First Gas
    Submission First Gas 435 KB Adobe Acrobat PDF file

Recommendation to Minister

On Friday 18 February 2022, we recommended to the Minister of Energy and Resources that new gas governance rules are made for the disclosure of gas production and storage facility outage information.  This recommendation followed the Statement of Proposal: Gas Production and Storage Facility Outage Information that we published in July and incorporates feedback we received from stakeholders on the proposal.

These rules will provide for the disclosure of planned and unplanned outages of gas production and gas storage facilities over a specified threshold and monitoring of compliance with these disclosure obligations. We are also recommending amendments to the Gas Governance (Compliance) Regulations 2008, so that the compliance framework in these regulations applies to the proposed Rules. 

We consider that these rules, together with the amendments to the compliance regulations, will achieve the regulatory objective of ensuring that there is effective and timely availability of material gas production and storage outage information for all gas and related market participants.

  • Recommendation to the Minister Information Disclosure Compliance Regulations
    2.6 MB Adobe Acrobat PDF file
  • Recommendation to the Minister Production and Storage Outages Information Disclosure
    6.5 MB Adobe Acrobat PDF file

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