The Commerce Commission conference to consider three of the rules for the proposed New Zealand Electricity Market begins in Wellington on Monday, August 19.
The company formed to administer the market, the Electricity Market Company (EMCO), has applied for authorisation of the pricing mechanisms, the prudential provisions and the metering standards in the rules.
Commission Chairman Dr Alan Bollard said the Commerce Act prohibits pricing arrangements among competitors and also prohibits other arrangements that substantially lessen competition. However, it allows otherwise prohibited arrangements to be authorised if the Commission is satisfied that public benefits outweigh detriments to competition.
The Commission released a draft determination on July 26 giving its preliminary view on the application.
The draft determination stated that on the information then available to the Commission, the Commission would authorise the pricing mechanisms, would not authorise the prudential provisions because they do not lessen competition and would not authorise the metering standards because they are already in effect.
Interested parties have made submissions on the draft determination. The conference is an opportunity for them to provide further information and for the Commission to ask questions.
Only interested parties can participate in the conference, but the public and journalists can attend to observe and report.
No confidential sessions are planned. However, if a confidential session does become necessary, the room may be cleared. Legal counsel representing any interested parties may attend confidential sessions if they sign an undertaking not to release the information presented.
The conference venue is level 24, Majestic Centre, corner of Willis and Boulcott Streets. A tentative timetable follows.
Media contact:Analyst Dick Adam
Phone work (04) 498 0937, or at the conference venue
