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

 


Key performance information of 29 lines businesses

17 March 2005

Electricity Lines: Commerce Commission releases
key performance information of 29 lines businesses

The Commerce Commission has today released the data disclosed by the 28 electricity distribution businesses and Transpower in accordance with the Commission’s Electricity Information Disclosure Requirements 2004 established under Part 4A of the Commerce Act.

The purpose of information disclosure is to promote the efficient operation of markets directly related to electricity distribution and transmission services by ensuring that large line owners and large electricity distributors make publicly available reliable and timely information about the operation and behaviour of those businesses, so that a wide range of people are informed about such factors as profits, costs, asset values, price (including terms and conditions of supply), quality, security, and reliability of supply of those businesses.

Later in the year the Commission will publish a summary and analysis of the information to show the businesses’ relative performance and the changes in performance over time.

Ensuring the publication of information and summarising and analysing the information are new responsibilities for the Commission. Prior to the introduction of Part 4A, the Ministry of Economic Development (MED) was responsible for administering information disclosure regulations. The Commission’s disclosure requirements largely replicate the provisions of MED’s regulations, although the Commission is currently undertaking a full consultative review of its requirements, beginning from first principles.

The electronic data file is available from the Commission’s website, www.comcom.govt.nz

Background Information Disclosure Part 4A of the Commerce Act 1986, establishes a regulatory regime for large electricity lines businesses. Under subpart 3 of Part 4A, the Commission must develop an information disclosure regime requiring lines businesses (large line owners and large electricity distributors) to disclose information concerning their business.

In March 2004, the Commission issued the Electricity Information Disclosure Requirements 2004 (the Disclosure Requirements). These largely replicated the now-revoked Electricity (Information Disclosure) Regulations 1999 (the Disclosure Regulations), administered by the Ministry of Economic Development (MED) pursuant to the Electricity Act 1992. Such an approach was taken by the Commission because the scope of information disclosure provided for under subpart 3 is similar to that under the Disclosure Regulations.

The Commission is also required to publish a summary and analysis of the information disclosed in the New Zealand Gazette.

ENDS

© 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>>

ALSO:

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>>

Earlier:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news