Financial Transmission Rights (FTR) Manager

Details

Tender Closed
RFx ID :	27643274
Tender Name :	Financial Transmission Rights (FTR) Manager
Reference # :
Open Date :	Monday, 3 July 2023 12:00 PM (Pacific/Auckland UTC+12:00)
Close Date  :	Monday, 31 July 2023 5:00 PM (Pacific/Auckland UTC+12:00)
Tender Type :	Registration of Interest (ROI)
Tender Coverage :	Sole Agency  [?]
Categories :	80000000 - Management and Business Professionals and Administrative Services 83000000 - Public Utilities and Public Sector Related Services 84000000 - Financial and Insurance Services
Regions:	New Zealand
Required Pre-qualifications :	None
Contact :	Douglas Parker Douglas.parker@mbie.govt.nz
Alternate Physical Delivery Address  :
Alternate Physical Fax Number  :
Agency Address :	NEW ZEALAND

Financial Transmission Rights (FTRs) are financial hedges that help energy purchasers and generators to manage price volatility between different locations on a transmission grid. The FTR market currently operates alongside the New Zealand electricity hedge market.

The wholesale electricity spot market calculates prices across approximately 285 locations (called nodes) on New Zealand’s national transmission grid. The New Zealand FTR market operates between these nodes at key locations in the transmission network.

The Electricity Authority seeks to continue the FTR market and appoint an FTR manager with effect from 1 July 2024. The current FTR manager contract finishes on 30 June 2024.

A successful outcome will enable the Authority to meet its legal obligation to appoint a provider for the FTR manager role, and will provide for the long-term benefit of consumers by encouraging price certainty in the electricity markets.

The objective at this stage of the procurement process is to receive Registrations of Interest that provide quality, cost-effective, and potentially innovative ways of meeting the Authority’s requirements. A Request for Proposals (RFP) procurement process will follow this ROI.

The intended timeframe for appointing the service provider for the FTR manager is February 2024.

Deadline for clarification requests from suppliers: Monday, 17 July 2023

This tender has been completed.

Date RFx was completed/updated: Wednesday, 6 September 2023 9:26 PM (Pacific/Auckland UTC+12:00)