The shares of Genesis Energy (ASX:GNE, NZE:GNE) jumped 4% in recent trading on the Australian bourse on Tuesday, while those of Meridian Energy (ASX:MEZ, NZE:MEL) rose almost 2% and those of Mercury NZ (ASX:MCY, NZE:MCY) rose over 2%, after New Zealand's Electricity Authority proposed rule changes to ensure a level playing field between Genesis, Contact Energy, Meridian, and Mercury, and independent participants in the electricity market.

The shares of Contact Energy (ASX:CEN, NZE:CEN) fell over 1% in recent trading.

The proposals were developed by the Energy Competition Task Force to boost competition and build confidence in the wholesale market. This includes mandatory non-discrimination obligations under which the electricity generator-retailers' wholesale businesses cannot treat independent retailers differently from their own retail arms.

Subject to feedback, the authority proposed to include the non-discrimination obligations regime in the Electricity Industry Participation Code in early 2026.