Key performance information of 29 lines businesses
17 March 2005
Electricity Lines: Commerce Commission
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.