APPENDIX 6: INTERNATIONAL FUNCTIONAL EQUIVALENTS OF AEMO Legislative or corporate Entity Ownership Corporate values Governance Finance mandate Transpower, New Zealand Electricity Industry Act 2010 (NZ) 100% State owned enterprise. The Our purpose Transpower is governeD by a BoarD of Transpower recovers the costs of shares are helD on behalf of the Crown seven Directors. The BoarD is responsible its regulateD transmission 8 Transpower is system operator by the Minister of Finance and the We connect New ZealanDers for Transpower’s performance, anD for business from generators and line to their power system, Minister for State OwneD Enterprises. guiDing anD monitoring the company on companies. The Commerce through safe, smart solutions behalf of the shareholDing Ministers. The Commission sets the amount of for toDay anD tomorrow. BoarD is appointeD by, anD accountable, (1) The system operator is revenue that Transpower can earn Transpower. to the Crown. Transpower’s General Our values Management Team is responsible for the from transmission activities. (2) As well as acting as system day-to-day operation of the company. operator for the electricity industry, The power of us The System Operator service is the system operator must— proviDeD and fundeD under an We listen to each other – we agreement with the Electricity (a) proviDe information, anD short- to unite to make things happen – Authority. meDium-term forecasting on all we are better together aspects of security of supply; anD We work with care (b) manage supply emergencies. (3) The CoDe must— We care for each other anD our communities and we keep (a) specify the functions of the system everyboDy safe – we are open, operator; anD honest and respectful (b) specify how the system operator's We're here for New ZealanD functions are to be performeD; and (c) set requirements relating to We work harD to keep the transparency anD performance. lights on for our fellow Kiwis anD we’re careful how we (4) A failure to comply with spenD their money subsection (2) is to be treateD, for the purposes of enforcement under this We Do clever simply Part, as a breach of the Code. This is a great place to work. We Deliver excellence – we change, aDapt, anD make better 127 Legislative or corporate Entity Ownership Corporate values Governance Finance mandate California Independent System California Public Utilities Code A non-profit public benefit corporation OUR PURPOSE There shall be five members of the The California ISO operates under the Operator Corporation (CAISO), organised under the Nonprofit Public Governing BoarD. Members of the terms anD conDitions of its FERC- 345. The Independent System California Benefit Corporation Law for the charitable Lead the way to tomorrow’s Governing BoarD are selecteD by approveD tariff, which is modifieD, Operator shall ensure efficient use anD purposes set forth in Chapter 2.3, Part 1, energy network appointment of the Governor of the State amenDeD, supplementeD or restateD reliable operation of the transmission Division 1 of the Public Utilities CoDe of the of California and subject to confirmation as neeDeD. griD consistent with achievement of State of California. OUR STRATEGY by the Senate of the State of California. planning and operating reserve criteria no less stringent than those • LeaD the transition to The BoarD selection process involving established by the Western Electricity renewable energy stakeholDers was outlineD in a FERC Coordinating Council and the North order issued July 1, 2005. The Board American Electric Reliability Council. • Maintain reliability During Nominee Review Committee is compriseD of six stakeholders from each of the inDustry transformation following member-class sectors: ISO Articles of Incorporation • ExpanD regional transmission owners, transmission- dependent utilities, public interest collaboration to unlock II.b. The specific purpose of this groups, enD-users and retail energy corporation is to ensure efficient use mutual benefits proviDers, alternative energy proviDers, anD reliable operation of the electric anD generators anD marketers. Each transmission griD pursuant to the OUR OPERATING PRINCIPLES sector is responsible for selecting its own Statute. six members to serve on the committee. For the benefit of our Once the Committee has been establisheD customers, we: CAISO Bylaws anD secretaries nominated, the Board member selection process proceeDs as ARTICLE II: PURPOSES AND • Attract, Develop anD retain a follows: OBJECTIVES highly skilled workforce • An inDepenDent search firm creates a Section 1. Purposes. • Operate the griD reliably anD list of at least four qualifieD canDiDates for each open seat on the efficiently The purpose of the Corporation is to BoarD. ensure efficient use anD reliable • ProviDe fair anD open • The list of qualifieD candiDates is then operation of the electric transmission transmission access forwarDeD to the 36-member BoarD facilities of those transmission owners Nominee Review Committee. that have transferreD operational • Promote environmental control of those facilities to the • Each member-class sector will select stewardship one person to represent the group to Corporation (the “ISO ControlleD conDuct a personal interview of GriD”), consistent with Chapter 2.3, • Facilitate effective markets selecteD canDiDates. Part 1, Division 1, of the California anD promote infrastructure Public Utilities Code. • BaseD on inputs from the member- development class sectors, recommenDations are submitteD to the Office of the • ProviDe timely anD accurate Governor for the State of California. information Terms of office of each member of the OUR COMMITMENTS Governing BoarD are three years in duration and are staggered in accordance We are committeD to being: with section 337 subDivision (e) of the California Public Utilities Code. Governors • Reliable may serve multiple terms, with no maximum number of terms. The Chair of the Governing Board shall be electeD by 128 Legislative or corporate Entity Ownership Corporate values Governance Finance mandate • Sustainable the Board from among the members of the Governing Board. • Efficient No member of the Governing BoarD shall • Resilient be affiliateD with any actual or potential participant in any market aDministereD • Responsive by the Corporation. OUR CORE VALUES • Integrity • Teamwork • Excellence • People focus • Open communication National Grid Electricity Electricity Act 1989 NGET is a public limiteD company, Connecting you to your energy The parent company, National GriD plc, is The cost that can be chargeD by NGET Transmission plc, UniteD registereD in EnglanD anD Wales. National toDay, trusteD to help you governeD by an eleven member BoarD of for its regulateD activities is governeD S 6(1)(b) a licence authorising a KingDom GriD Electricity Transmission plc operates meet your energy neeDs Directors. They are supporteD by an by RIIO-T1 pricing control moDel, person to transmit electricity for that as a subsiDiary of National GriD HolDings tomorrow. eleven member Executive Committee. where stanDs for: purpose in that person’s authoriseD One Plc. area (“a transmission licence”) Revenue = Incentives+Innovation+Outputs Transmission Licence Standard This process is controlleD by Ofgem. Conditions Condition C16: Procurement and use of balancing services 1. The licensee shall co-ordinate and direct the flow of electricity onto and over the national electricity transmission system in an efficient, economic anD co-ordinated manner 129 Legislative or corporate Entity Ownership Corporate values Governance Finance mandate Independent Electricity System (1) The objects of the IESO are, The IESO is a not-for-profit corporate The IESO is governeD by an independent The IESO's usage fees and licence Operator (as mergeD with the (a) to exercise the powers entity established in 1998 by the Electricity boarD of eleven Directors that oversees conDitions are approveD by the Ontario Power Authority from 1 anD perform the Duties assigneD to it Act of Ontario. its business anD affairs. The IESO BoarD Ontario Energy BoarD (OEB) in Jan 2015) under this Act, the regulations, also approves the Market Rules, policies accorDance with the Electricity Act, directions, the market rules and its anD guiDelines that govern the IESO- 1998. licence; administereD markets. (b) to enter into agreements with transmitters to give it authority The BoarD Directors are appointeD by the to Direct the operation of their transmission systems; Minister of Energy. However, the BoarD (c) to Direct the operation anD has the power to elect both their own maintain the reliability of the IESO- Chair and Vice-Chair from among the controlled grid to promote the Directors by a majority vote. purposes of this Act; (d) to participate in the The IESO StakeholDer ADvisory development by any standards Committee provides appointed authority of criteria anD stanDarDs stakeholDer representatives with the relating to the reliability of the opportunity to present advice and integrateD power system; recommenDations on market (e) to establish anD enforce development and planning decisions criteria anD stanDarDs relating to the directly to the IESO's Board of Directors reliability of the integrateD power system; anD Executive Leadership Team. (f) to work with the Members of the Committee represent responsible authorities outsiDe of electricity service proviDers, generators, Ontario to co-ordinate the IESO’s conveyors anD consumers of electricity. activities with the activities of those StakeholDers are encourageD