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

 

Asquith Group applies for exemption under EIR Act

Asquith Group applies for exemption under EIR Act

The Commerce Commission has received an application from the Asquith Group for an exemption under the Electricity Industry Reform Act 1998 (the EIR Act) in relation to ownership separation provisions.

The Asquith Group seeks an exemption from s 17 of the EIR Act, which prohibits cross involvements in electricity lines and supply businesses, in relation to shopping centres owned and operated by the Asquith Group in New Zealand.

The purpose of the EIR Act is to reform the electricity industry to better ensure that costs and prices in the electricity industry are subject to sustained downward pressure and the benefits of efficient electricity pricing flow through to all classes of consumers, by effectively separating electricity distribution from generation and retail and promoting effective competition in electricity generation and retail markets.

The Commission may grant an exemption in respect of a business or involvement or interest, only where doing so: would not result in certain involvements in electricity lines businesses and electricity supply businesses which may create incentives or opportunities: to inhibit competition in the electricity industry; or to cross-subsidise generation activities from electricity lines businesses; and would not result in relationships between electricity lines businesses and electricity supply businesses which are not at arms length.

For further information on the Commission’s role within the EIR Act, visit the Commission’s website, http://www.comcom.govt.nz/acts/eiract/.

A public version of the application will shortly be available on the Commission’s website, http://www.comcom.govt.nz/adjudication/s81.cfm.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>