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Electricity Governance Board Applies For Auth.

Media Release

Issued 11 December 2001/129

Electricity Governance Board Limited applies to Commerce Commission for authorisation

The Electricity Governance Board Limited has applied to the Commerce Commission for authorisation of proposed arrangements that will combine three existing market arrangements into a single rulebook, which will restructure the basis under which electricity is traded between participants in the electricity industry.

The three inter-connected arrangements include the New Zealand Electricity Market rules (NZEM), Metering and Reconciliation Information Agreement (MARIA) and Multilateral Agreement on Common Quality Standards (MACQS).

The NZEM rules determine the basis under which most electricity is bought and sold at the wholesale level.

MARIA provides for the metering and reconciliation of electricity traded.

MACQS is an industry agreement for the establishment of common quality standards for the transmission of electricity.

The Commerce Act prohibits competitors agreeing to work together in a way that reduces competition between them.

However, the Act does allow for authorisation of potentially anti-competitive business practices if the public benefit is greater than the detriment to competition.

The Act sets no deadline for the Commission to consider authorisation of a potentially anticompetitive practice. However, the Commission intends to complete the process by the end of April 2002.

Public notices asking for submissions will be published shortly. Interested parties will have until 25 January 2001 to make initial submissions.

Public copies of the application are available from the Commerce Commission's Wellington office, level 7, Landcorp House, 101 Lambton Quay.


ENDS

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