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


Electricity Industry Referendum

Electricity Industry Referendum

Chair of the Electricity Governance Establishment Committee, David Caygill, announced today that a referendum on industry governance arrangements will be held during April and May 2003.

The referendum commenced today with ballot papers sent out to industry participants and representative consumer groups. Ballot papers will need to be returned by 14 May and the Committee will meet on 16 May to consider the results.

The referendum is intended to gauge the level of support for an integrated set of self-regulatory arrangements proposed for the electricity sector. The electricity industry has been working towards these new arrangements since the government released a Policy Statement in December 2000. The arrangements were authorised by the Commerce Commission in September 2002.

"Industry participants and consumer representatives have devoted considerable effort over more than two years towards developing a set of arrangements to govern the wholesale market, retail market, transmission and grid security issues," said Mr Caygill.

"If the referendum demonstrates substantial majority support for the proposals we will proceed quickly to elect an independent Electricity Governance Board. Otherwise the government has indicated that it will consider using the power to appoint its own governance board," he said.

"The Electricity Governance Board will have a key role in overseeing the development of the new arrangements to better meet the needs of industry participants and government policy," said Mr Caygill.

© Scoop Media

Business Headlines | Sci-Tech Headlines


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>>


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>>


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>>


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>>


Half A Billion Accounts, Including Xtra: 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>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news