The Electricity Authority will delay a review of the provisions for calling an undesirable trading situation, which allows it to reset wholesale power prices, until a court case is decided.
The regulator says it will wait until the High Court issues a decision over a challenge to its decision to retrospectively lower a spike in prices in late March.
The court's decision is expected before the end of February.
The authority decided to lower prices from $20,000 to $3000 per megawatt hour after it deemed the higher prices undesirable and a threat to the integrity of the market.
Genesis Energy, Contact Energy and Todd Energy challenged the decision.
The Electricity Authority had indicated it may amend the Code.