Report purpose This report asks whether New Zealand’s current electricity sector regulatory arrangements remain “fit for purpose” – in the sense that they best serve the long-term interests of consumers – in the face of impending new technologies, business models and players. Where it identifies they are not, it outlines the pros and cons of possible solutions, and where possible, suggests a way forward to improve those arrangements. The intention is that the report’s analysis and conclusions provide a basis for further discussion, debate and analysis, recognising that there are many uncertainties about the nature of new technologies, business models and players, as well as many strategic decisions – including by regulators – that will affect their future course. This report was commissioned prior to New Zealand’s 2017 general election, and before the resulting new government announced its electricity pricing review. While it does not respond directly to that review, this report addresses the review’s interest in whether existing regulation is fit for purpose in light of changing technologies, business models and players, and also highlights distributional issues that might arise from such changes.