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

 

Update: Regulation of electricity lines businesses


Update: Regulation of electricity lines businesses

The Commerce Commission has released a discussion paper on its review of methodologies that could be used to value the fixed assets of electricity lines businesses. The Commission has invited submissions on all matters covered by the paper.

The Commission also outlined a revised process for its work on the thresholds and control regime, which provides further opportunity for comment by interested parties. The Commission’s work on regulation of electricity lines businesses is under Part 4A of the Commerce Act.

Asset valuation In preparing the asset valuation discussion paper, the Commission considered submissions on its Issues Paper, and had the paper reviewed by independent experts.

Written submissions on the asset valuation discussion paper are invited by 4 November 2002. The Commission will then hold a conference from 25-29 November 2002 in Wellington where submitters can present their views orally. The Commission intends to release a paper announcing the results of the review of asset valuation methodologies by the end of the year.

The discussion paper considers the different methodologies possible for preparing opening and ongoing asset valuations. The Commission has no firm view on which asset valuation methodology should be used and seeks submissions to assist its deliberations.

The discussion paper can be downloaded from: http://www.comcom.govt.nz/electricity/Rep_Doc.cfm Thresholds for control The Commission has considered feedback on an earlier discussion paper on the thresholds and control regime for electricity lines businesses (March 2002), particularly in respect of the interface between asset valuation and threshold design. As a result of submissions made, the Commission has undertaken to further consult on the detail of thresholds for the declaration of control.

Before the end of this year, alongside the paper announcing the results of the review of asset valuation methodologies, the Commission intends to release a high-level paper outlining the Commission’s final decisions on the form of the thresholds.

The Commission will further consult on the implementation details of the thresholds early in 2003, and expects to hold a conference in early March 2003.

The Commission intends to publish the thresholds in the Gazette before the end of March 2003 to coincide with the existing information disclosure regime for distribution companies (1 April –
31 March each year). This would allow the Commission to make its first assessment of lines businesses’ performance against the thresholds as early as 31 March 2003, although the Commission has not made a final decision on when the first assessments should take place. Transpower’s reporting year is different (1 July – 30 June each year), and the regulatory assessment period for Transpower will reflect this.

A timetable and background is attached to this release.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Auckland Transport: Successful Bridge Repair Opens Two Additional Lanes To Traffic

The opening of two additional lanes on the Auckland Harbour Bridge this morning will help relieve some motorway congestion for motorists heading home to the North Shore tonight. More>>

ALSO:

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:


University Of Auckland: Whale-Watching By Satellite – Follow Their Travels Online

Scientists have successfully attached satellite tracking tags to six New Zealand southern right whales, or tohorā, and are inviting the public to follow the whales’ travels online. Part of a major research project involving the University of Auckland ... More>>

Commerce Commission: Kiwibank Admits System Failures And Agrees To Pay Customers $5.2 Million

Kiwibank has entered into a settlement agreement with the Commerce Commission after reporting that it failed to have in place robust home loan variation disclosure policies, procedures and systems. In a settlement dated 27 August 2020, Kiwibank admitted that ... More>>

Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO: