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

 


NGC Applies For Clearance To Acquire Hutt/Mana Gas

NGC Applies For Clearance To Acquire Hutt/Mana Gas Network

The Commerce Commission has received an application from Natural Gas Corporation (NGC) for clearance to acquire the gas network in the Hutt Valley, Tawa and Porirua areas currently owned by AGL NZ Energy. NGC is 66 percent owned by AGL.

The Commission's Commerce Act Manager, Geoff Thorn, said that last year the Commission cleared NGC to acquire TransAlta, which was the principal gas retailer over this network. That clearance was given subject to an undertaking that AGL would divest the network.

The undertaking required the network to be sold to a party independent of AGL or to an associated company if this did not breach the Commerce Act.

The Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market. The Commission must decide whether the ownership of the network by NGC rather than an independent party would result in dominance being acquired or strengthened.

The Commission has 10 working days in which to make a decision but the Act allows for an extension of time if necessary. Working day 10 will be 22 May.

Public copies of NGC's application are available by e-mailing dick.adam@comcom.govt.nz and in hard copy from reception at the Commission's Wellington office, level 7 Landcorp House, 101 Lambton Quay.


Ends


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news