The report was triggered by the setting of new prices after 2012. It provided Ministers with the opportunity to assess whether information disclosure regulation was effective or whether further regulation should be considered.
Our final report was released in February 2013 and noted that the regulatory regime had not limited the ability of Wellington Airport to make excessive profits.
Based on our analysis, we found Wellington Airport was likely to recover between $38 million and $69 million more from consumers between 2012 and 2017 than it needed to make a reasonable return. The excessive profits were largely attributed to Wellington Airport valuing its land higher than we thought it should, and targeting a higher return than appropriate for its circumstances. Read more.
As a result of the report, Wellington Airport revised its pricing to fall within our estimated range of acceptable returns. We estimated this saved consumers $33 million over a three year period as a result. Read more.
While this report was a one-off requirement under the Act, we continue to publish similar analysis that can be found on the airports performance page.