Electricity Lines Businesses: Commission releases Process Paper on Information Disclosure
Published16 Oct 2003
Issued Thursday 16 October 2003
The Commerce Commission is inviting comments on a Process Paper that relates to an information disclosure regime for large electricity lines businesses. This work is part of the Commission's continuing development of a regulatory regime for lines businesses, as required by Part 4A of the Commerce Act.
The paper, released today, outlines the process that the Commission intends to follow in developing and refining the information disclosure regime. Interested parties are invited to make written comments on the process and timetable outlined in the paper by 14 November 2003. The paper is available on the Commission's website, http://www.comcom.govt.nz/electricity/Rep_Doc.cfm.
The Commission intends that its initial information disclosure requirements will largely replicate and replace the existing information disclosure regime provided under the Electricity (Information Disclosure) Regulations 1999. The Commission intends to subsequently develop these requirements over time, with a major consultative review planned during 2004.
Background
Part 4A of the Commerce Act 1986, which commenced on 8 August 2001, establishes a regulatory regime for large electricity lines businesses. Under Part 4A, the Commission must, inter alia, develop an information disclosure regime requiring lines businesses (large line owners and large electricity distributors) to disclose information concerning their business. The Commission is required to publish a summary and analysis of the information disclosed.
The purpose of the information disclosure regime, as set out in section 57T of the Commerce Act, 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.
