Valuations Of Large Electricity Line Companies

Issued 12 September 2001/99

Submissions Sought On Valuations Of Large Electricity Line Companies

The Commerce Commission has today advertised nationwide seeking submissions on the valuations of large electricity line companies.

The Commisson is required to carry out a comprehensive audit of the valuation reports of large electricity line owners using a rigorous and accurate application of the optimised deprival valuation (ODV) handbook. The Commission will take into account submissions made by line owners, users of the line assets and any other persons when completing its audit.

The following companies are large electricity line owners which will be audited by the Commerce Commission:
Alpine Energy Ltd
Buller Electricity Ltd
Centralines Ltd
Counties Power Ltd
Dunedin Electricity Ltd
Eastland Network Ltd
Electralines Electricity Ashburton Ltd
Electricity Invercargill Ltd
Hawkes Bay Network Ltd
Horizon Energy Distribution Ltd
MainPower NZ Ltd
Marlborough Lines Ltd
Nelson Electricity Ltd
Network Tasman Ltd
Network Waitaki Ltd
Northpower Ltd
Orion NZ Ltd
Otago Power Ltd
Powerco Ltd
ScanPower Ltd
The Lines Company Ltd
The Power Company Ltd
Top Energy Ltd
Transpower NZ Ltd
United Networks Ltd
VECTOR Ltd
Waipa Networks Ltd
WEL Energy Group Ltd
Westpower Ltd

The valuations reports are now available from each of the line owners, with the exception of Transpower New Zealand Limited, which will be available after 30 November 2001.

The Commission is not seeking submissions on alternative valuation methodologies to the ODV. Written submissions concerning the ODV audit should be made by 12 October 2001. The deadline for submissions on Transpower New Zealand Ltd is 21 December 2001.

The ODV Handbook is available on the Ministry of Economic Development web site: www.med.govt.nz by following links to "energy resources and safety", followed by "information disclosure".

Commission media releases can be viewed on its web site www.comcom.govt.nz

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