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Electricity Industry Act 2010

Miscellaneous - State-owned enterprise asset reconfiguration and miscellaneous matters - Asset reconfiguration provisions in respect of Waitaki Power Scheme

123: Existing agreements with other parties in respect of Waitaki Power Scheme

You could also call this:

“Rules about old agreements for the Waitaki Power Scheme”

This section talks about agreements related to the Waitaki Power Scheme. You need to know about two types of agreements. First, there are agreements listed in Schedule 5. Second, there are other written agreements that Meridian is part of. These other agreements are about owning or running the Tekapo A and Tekapo B power stations. The Minister decides which of these other agreements are included and announces them in the Gazette.

These agreements don’t end just because Meridian doesn’t control all of the Waitaki Power Scheme anymore. However, if you’re part of one of these agreements (but you’re not Meridian or Genesis), you can choose to end your part in the agreement. To do this, you need to write a notice to the Minister, Meridian, and Genesis. You can end your involvement as described in section 124(2)(c) or (9).

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Topics:
Environment and resources > Climate and energy Business > Industry rules
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"The government can ask power companies to change their deals to help reach certain goals"

Part 5 Miscellaneous
State-owned enterprise asset reconfiguration and miscellaneous matters: Asset reconfiguration provisions in respect of Waitaki Power Scheme

123Existing agreements with other parties in respect of Waitaki Power Scheme

  1. This section and section 124 apply to the following (the existing agreements):

  2. the agreements listed in Schedule 5; and
    1. any other written agreements to which Meridian is a party (other than employment agreements)—
      1. that, in the opinion of the Minister, relate directly to the ownership or operation of either or both of Tekapo A and Tekapo B generating stations and that Meridian will no longer be able to perform, or no longer requires, as a result of the transfer of ownership of the generating stations; and
        1. in respect of which the Minister has given notice in the Gazette that this subpart applies.

        2. No existing agreement is terminated only because Meridian no longer controls the entire Waitaki Power Scheme.

        3. However, a party to an existing agreement (other than Meridian or Genesis) may, by notice in writing to the Minister, Meridian, and Genesis, terminate the party's involvement in the agreement in accordance with section 124(2)(c) or (9).