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Commission grants EIR Act exemption

Media Release

Issued 6 April 2003-04/107

Commission grants EIR Act exemption to Dr Keith Turner

The Commerce Commission has granted an exemption under the Electricity Industry Reform Act 1998 (EIR Act) to the Chief Executive of Meridian Energy Limited, Dr Keith Turner, in respect of his impending appointment to the board of Auckland International Airport Limited (AIAL).

Dr Turner had applied for an exemption from s 17 of the EIR Act which prohibits such cross-involvement. The EIR Act would deem Dr Turner to have material influence over Meridian’s electricity supply business and AIAL’s electricity lines business (in respect of its internal network).

Chair Paula Rebstock said that the Commission considers that provided there is no relationship between the two companies in which Dr Turner would be cross-involved, his application passes the Commission’s criteria for granting exemptions from section 17 of the EIR Act.

“The Commission has made it a condition of the exemption that there should not in future be any connection or relationship between the two companies in respect of electricity supply or distribution whilst Dr Turner remains involved in both,” said Ms Rebstock.

“In other words, Meridian should not become an electricity retailer to consumers connected to AIAL’s electricity distribution network.”

ENDS

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