The electricity industry says its facing a barrage of new business uncertainties and commercial risks, not envisaged when the legislation controlling the industry was put together.

The Electricity Networks Association says despite the surge in population residential electricity demand is falling.

Chief executive Alan Jenkins says new connections have also stalled.

"As far as we can tell, there's quite an impact now of more efficient technologies.

"Things like newer and better light bulbs, double glazing of houses, solar panels."