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


Extend Consultation On EGB Authorisation

Issued 2 September 2002

Electricity Update: Commission To Extend Consultation On EGB Authorisation

The Commerce Commission is inviting submissions from interested parties prior to releasing its final determination on the Electricity Governance Board's (EGB) authorisation application.

Under section 58 of the Commerce Act, EGB applied to the Commission in December 2001 for an authorisation of an arrangement that provides the basis for the trading and delivery of electricity.

Commission Chair John Belgrave said the Commission has considered all aspects of the EGB application and has reached conclusions on many of the issues. However, the Commission has now given interested parties two weeks to provide comment on conditions it may impose on an authorisation.

Section 61(2) of the Commerce Act 1986 allows the Commission to place certain conditions on an authorisation and to limit the period of the authorisation.

In other work within the electricity sector, the Commission will release its discussion paper reviewing asset valuation methodologies within the next two months. The Commission has received a number of submissions on its issues paper (released in March), and has also received feedback on a draft of the discussion paper following a peer review process. This work on regulation of electricity lines companies is pursuant to Part 4A of the Commerce Act 1986.

Background The Commerce Act 1986, section 61(2): Determination of applications for authorisation of restrictive trade practices - (2) Any authorisations granted pursuant to section 58 of this Act may be granted subject to such conditions not inconsistent with this Act and for such period as the Commission thinks fit.

The Commerce Act prohibits competitors' agreeing to work together in a way that reduces competition between them. However, the Act does allow for authorisation of potentially anti-competitive business practices if the public benefit is greater than the detriment to competition.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Westpac: More Job Opportunities, But Growth In Workers’ Earnings Remains Subdued

The Westpac McDermott Miller Employment Confidence Index rose 1.2 points in the December quarter, to a level of 106.9. This was the sixth straight rise in the index since the Covid-19 lockdown in 2020. Michael Gordon, Acting Chief Economist for Westpac, noted that the rise in the index has largely been driven by perceptions... More>>

Statistics: Card Spending Continues To Increase As COVID-19 Restrictions Ease

The busy Christmas period combined with easing COVID-19 restrictions helped to increase card spending in December 2021, Stats NZ said today... More>>

Westpac NZ: Warns About Sophisticated New Scam
Westpac NZ is warning New Zealanders about a sophisticated new scam that involves a fake Westpac investment prospectus.
The prospectus is formatted to resemble a Westpac document and includes professional-looking imagery... More>>

TradeMe: Job Market Ends 2021 On A High With Record Number Of Vacancies
The New Zealand job market finished 2021 on a high note, with the ball still firmly in the job hunters’ court, according to the analysis of 69,600 vacancies listed on Trade Me Jobs for the quarter ending 31 December (Q4)... More>>

Insurance Council of New Zealand: September South Island Windstorm Cost $36.5 M Raises 2021 Extreme Weather Claims Total To $321.6 M

Gale force winds and storms between 9 and 13 September 2021 resulted in insurers supporting communities to the tune of $36.5 m. This is a significant rise, of $16.7 m, on preliminary figures for the event and lifts the end of year total for all extreme weather events in 2021 to $321.6 m... More>>

Statistics: Building Consents Hit New Highs In November
There were a record 48,522 new homes consented in the year ended November 2021, Stats NZ said today. This was up 26 percent compared with the year ended November 2020... More>>