Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Electricity Inquiry Report

MEDIACOM-ELECTRICITY-NETWORKS-ASSOC

ELECTRICITY INQUIRY REPORT

The Electricity Networks Association is studying the Electricity Inquiry's report, which was released by Energy Minister Pete Hodgson earlier today. ENA Chairman Ken Forrest says it's a carefully considered response to a large number of complex issues. The report contains a number of sensible proposals that require further work before they can be implemented to ensure that maximum benefits are available to electricity users.

"We note the higher profile recommended for the Commerce Commission in administering information disclosure arrangements and in targeting unreasonable behaviour if this occurs. The Commission is the appropriate body to do this sort of work. I imagine that most of New Zealand's business community would favour use of the Commission as a professional business overseer rather than moving towards a politically administered regime."

"Similarly, the focus on measuring performance on the basis of outputs such as price and reliability is sensible. Impacts on consumers should be the primary focus of any regulatory system."

The report recognises that a "one size fits all" regulatory approach for such a complex industry would be unfair and distortionary. This view is supported.

"Distribution companies will be pleased that the effort that has been put into establishing industry protocols for customers to switch suppliers has been recognised in the report. This is critical to competition, and the commitment of retailers as well as distributors to set up a fair and efficient switching system will continue."

The Association's members will be focussing on the recommendations relating to improved energy efficiency. They recognise that this is a Government priority.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news