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Update On Electricity Governance Board

Issued 15 April

Update On Electricity Governance Board Authorisation

The Commerce Commission is currently considering an application by the Electricity Governance Board Limited for authorisation of proposed arrangements that will restructure the basis under which electricity is traded.

This would be achieved by combining various existing market arrangements and integrating new arrangements into a single rulebook and implementing various supporting agreements.

The Commission is working through the complexity of the application and is consulting with and considering the views of interested parties. The Commission is currently finalising its draft determination and expects to release it within the next 10 working days.

The Commission will hold a five day public conference in Wellington for oral submissions to be made on 12-14, 19-20 June. It expects to release its final determination in July.

Background The Commerce Act prohibits competitors agreeing to work together in a way that reduces competition between them. It also allows for authorisation of potentially anti-competitive business practices if the public benefit is greater than the detriment to competition.

Access to the application and submissions are available from the Commission's website, www.comcom.govt.nz.

Ends

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