27 Feb 2012
BAY OF PLENTY ENERGY LIMITED V THE ELECTRICITY AUTHORITY HC WN CIV-2011-485-1371
- Citation
- openlaw-02de22e7_768c_45c9_b6c5_04be4a534759.pdf
- Court
- High Court
The High Court held the Authority did not err in law: its construction that clauses (a) and (b) must be satisfied for a UTS (with clause (c) illustrative) was correct; the Authority's factual findings—unforeseen/unforeseeable combination of transmission outages, demand under-forecast, Genesis in a transient net pivotal position producing a market squeeze and interim prices divorced from underlying costs—were open to it and not untenable; and its remedial direction to reset Huntly offers to a maximum of $3,000/MWh for the affected trading periods was within the Code's cl 5.2 powers and lawful.