The Commerce Commission has today advertised nationwide seeking submissions on the valuations of large electricity line companies.

The Commisson is required to carry out a comprehensive audit of the valuation reports of large electricity line owners using a rigorous and accurate application of the optimised deprival valuation (ODV) handbook. The Commission will take into account submissions made by line owners, users of the line assets and any other persons when completing its audit.

The following companies are large electricity line owners which will be audited by the Commerce Commission:

Alpine Energy Ltd

Buller Electricity Ltd

Centralines Ltd

Counties Power Ltd

Dunedin Electricity Ltd

Eastland Network Ltd

Electralines

Electricity Ashburton Ltd

Electricity Invercargill Ltd

Hawkes Bay Network Ltd

Horizon Energy Distribution Ltd

MainPower NZ Ltd

Marlborough Lines Ltd

Nelson Electricity Ltd

Network Tasman Ltd

Network Waitaki Ltd

Northpower Ltd

Orion NZ Ltd

Otago Power Ltd

Powerco Ltd

ScanPower Ltd

The Lines Company Ltd

The Power Company Ltd

Top Energy Ltd

Transpower NZ Ltd

United Networks Ltd

VECTOR Ltd

Waipa Networks Ltd

WEL Energy Group Ltd

Westpower Ltd

The valuations reports are now available from each of the line owners, with the exception of Transpower New Zealand Limited, which will be available after 30 November 2001.

The Commission is not seeking submissions on alternative valuation methodologies to the ODV. Written submissions concerning the ODV audit should be made by 12 October 2001. The deadline for submissions on Transpower New Zealand Ltd is 21 December 2001.

The ODV Handbook is available on the Ministry of Economic Development web site: www.med.govt.nz by following links to "energy resources and safety", followed by "information disclosure".

Media contact: Business Competition Director Geoff Thorn

Phone work (04) 498 0958, cellphone 021 661 104

Senior Advisor Communications Jackie Maitland

Phone work (04) 498 0920, cellphone (025) 249 3407