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

 

NGC cleared to acquire AGL gas network

NGC cleared to acquire AGL gas network

Media Release

Issued 8 June 2001/70

Commission clears NGC to acquire AGL's Hutt Valley and Mana gas network

The Commerce Commission has cleared Natural Gas Corporation Holdings Ltd (NGC) to acquire the Hutt/Mana gas distribution network from its parent, AGL NZ Energy Ltd.

Commission Chair, John Belgrave said that the main markets considered by the Commission were the Hutt/Mana markets for the:

distribution of gas, and


* retailing of gas to residential consumers.

Mr Belgrave said that no aggregation of market shares arose from the transaction.

The Commission concluded that there was now strong competition between NGC and FreshStart in the retail market, and it anticipated that this competition would continue in the future.

The Commission also concluded that the acquisition would not affect the distribution market.

Public copies of the Commission's full decision will be available early next week.

Background

NGC made is application before the Commerce Act was amended. At that time the Act prohibited business acquisitions that resulted in dominance being acquired or strengthened in any market. All applications made before the amendment are being investigated using the dominance test.

The amendments, which came into force on May 26, prohibit business acquisitions that substantially lessen competition in a market. All applications made on or after May 26 will be investigated using the substantial lessening test.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>

ALSO:

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO:

Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>

ALSO: