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

 

Customers’ Best Interests at the Heart of ComCom letter


Customers’ Best Interests at the Heart of Commerce Commission's Open Letter on How New Technology Will Be Charged for

The Electricity Retailers’ Association of New Zealand (ERANZ) welcomes the open letter and the gathering of information from the Commerce Commission, which will focus on ensuring that the distribution costs that consumers must pay for through their power bills are kept to only those necessary to deliver the regulated monopoly services, which is transporting electricity by line. There is a particular focus on investment in electric vehicle chargers, which the Commission has made clear should not be included in regulated asset bases, but they also note the importance of transparency for the use of all evolving technologies.

“This is a really important issue, says Jenny Cameron, CE, ERANZ. We wholly support competition, but it must be on a level playing field so that customers benefit.

“We have been talking about the need for regulation to keep pace with emerging technologies with the Commerce Commission for the past three years, so this announcement is welcomed and timely, says Ms Cameron.

“Electricity distribution companies have an incredibly important role to play in ensuring networks are fit for current and future needs, and recent events have shown how important it is to have a resilient network.

“We strongly support lines companies being a platform that uses technology to make their businesses more efficient and resilient, as this can lower costs for consumers. These technologies and services must be openly procured from the competitive market to support the functions of the lines network.

But we agree with the Commission that we don’t want to see a situation where regulated monopolies have an unfair advantage or distort the competitive market. This is especially true some of these developing areas such as EV charging, solar, battery storage and home automation systems, which are becoming increasingly competitive as technology improves and manufacturing costs fall, she says.

“How New Zealanders use electricity in the future is a very exciting space to be working in. Competition is developing in all of those areas, from a range of businesses.”


ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO:

Retail: IKEA To Open In New Zealand

Inter IKEA Systems B.V. is today announcing its intentions to grant the Ingka Group exclusive rights to explore expansion opportunities in New Zealand. More>>