Editing New Zealand electricity market (section)

===Milestones in the reform process===
*Prior to 1987, the New Zealand Electricity Department (NZED), a government department, controlled and operated almost all electricity generation and operated the [[electric power transmission|electricity transmission grid]].
*April 1987 – The New Zealand Government [[Corporatization|corporatised]] the NZED and formed a [[state-owned enterprise]] – the [[Electricity Corporation of New Zealand]] (ECNZ).
*April 1993 – Electricity Market Company (later called M-co) established as a joint venture by New Zealand electricity industry players to act as a focal point for the design of a wholesale electricity market.
** The Metering and Reconciliation Information Agreement (MARIA) was set up as a multilateral arrangement to allow for retail competition for customers with half-hour interval meters.
**Former local electricity supply authorities established as energy companies.
*April 1994 – Transpower separated from ECNZ and established as a stand-alone state-owned enterprise.
*July 1994 – NZEM commences trading as a secondary market for ECNZ hedges. An independent [[market surveillance]] committee was formed.
*June 1995 – After an exhaustive policy debate, the government announced significant reform of the electricity industry including a framework for buying and selling electricity through a wholesale pool.
*February 1996 – An interim wholesale market is put in place allowing ECNZ and Contact to begin competing.
*April 1996 – Contact Energy commenced operations.
*October 1996 – The reformed wholesale electricity market (NZEM) begins trading.
*April 1998 – Government announced the Electricity Industry Reform Act 1998<ref>{{Cite web
|author = Ministry of Economic Development
|title = Investment in Electricity Generation by Lines Companies
|year = 2006
|version = Discussion Paper
|accessdate = 2009-05-13
|url = http://www.med.govt.nz/upload/34734/discussion.pdf
|url-status=dead 
|archive-url=https://web.archive.org/web/20081016104255/http://www.med.govt.nz/upload/34734/discussion.pdf
|archive-date=16 October 2008
}}</ref> which included:
**Privatising [[Contact Energy]].
**Splitting ECNZ into three competing state-owned enterprises.
**Instructions to all energy companies to split their retail and lines businesses and sell one or other within a set time period
*April 1999 – [[Electricity Corporation of New Zealand]] (ECNZ) disbanded, establishment of three separate competing spin-off generation companies in the form of Mighty River Power, Genesis and Meridian Energy. A low-cost system for [[customer switching]] established allowing every consumer to choose their electricity [[electricity retailing|retailer]].
*May 1999 – Contact Energy shares listed for trading on the New Zealand and Australian Stock Exchanges from 11 May 1999.<ref>Contact Energy Half Year Report for Period to 31 March 1999</ref>
*February 2000 – The Ministerial Inquiry into the electricity industry begins.<ref>{{cite web |url= http://www.med.govt.nz/templates/StandardSummary____16316.aspx  |title= Ministerial Inquiry into the Electricity Industry 2000, Ministry of Economic Development |accessdate= 2011-10-15}}</ref>
*June 2000 – The report of the Ministerial Inquiry is published.
*November 2000 – Electricity Governance Establishment Project set up as a result of the government's review of the report of the Ministerial Inquiry.
*December 2000 – Government Policy Statement published.<ref>{{cite web |url= http://www.med.govt.nz/templates/MultipageDocumentPage____12408.aspx?&MSHiC=65001&L=0&W=Government+Policy+Statement+&Pre=%3cb%3e&Post=%3c%2fb%3e  |title= Government Policy Statement: Further Development of New Zealand's Electricity Industry [December 2000], Ministry of Economic Development |accessdate= 2011-10-15}}</ref>
*April 2003 – An industry referendum on the outcomes of the Electricity Governance Establishment Project (EGEP).
*May 2003 – The rules developed by EGEP fail to gain sufficient support in the referendum to avoid government regulation.
*July 2003 – A draft set of regulations and rules was issued for consultation.
*September 2003 – As a result of submissions received, revised rules and regulations were issued for further consultation.  A revised Government Policy Statement was issued for submissions and the Electricity Commission was appointed.
*1 March 2004 – The Electricity Commission took over control of the New Zealand electricity market from the self-regulating bodies, the MARIA Governance Board (MGB) and the Rules Committee of the NZEM.
*October 2004 – The Electricity Act was amended to increase the powers of the Electricity Commission.
*April 2009 – Ministerial review of Electricity Market Performance commences.<ref name=performance />
*9 December 2009 – Minister announces outcomes of market review, including 29 new measures.<ref name=performance />
*1 November 2010 – [[Electricity Authority (New Zealand)|Electricity Authority]] takes over from [[Electricity Commission (New Zealand)|Electricity Commission]], and the Electricity Industry Participation Code comes into effect.<ref name=authority /><ref>{{cite web |url= http://www.med.govt.nz/templates/ContentTopicSummary____43215.aspx |title= Initial Electricity Industry Participation Code, Ministry of Economic Development |accessdate= 2011-10-15}}</ref>