Documents
TSO Final Determination for 2007-2008
(3 documents)
- 2006/07 and 2007/08 TSO - The estimated Debt Premium for the TSP PDF (174 KB)
- In accordance with the Telecommunications Act 2001, the Commerce Commission is required to determine the incremental efficient cost to the TSO provider (TSP), net of revenues received, of complying with the TSO. Inter alia, this requires an estimate of the cost of capital for the TSP and therefore its debt premium. The purpose of this paper is to provide an estimate of this debt premium and related costs for the year commencing 1 July 2006 and also for the year commencing 1 July 2007, assuming leverage of 30% and a regulatory cycle of one year. The principal conclusions are as follows.
- Pre-tax Vs Post-tax Analysis for the TSP - 30 September 2009 PDF (36 KB)
- 2007/08 Final TSO Cost Calculation Determination for TSO Instrument for Local Residential Telephone Service PDF (531 KB)
- Determination under section 93C of the Telecommunications Act 2001 of matters set out in section 93E of the Act in the matter of Telecommunications Service
Obligations for Local Residential Service, for the period 1 July 2007 to 30 June 2008 being the financial year of the Telecommunications Service Obligations Provider
Project Milestones
(1 documents)
TSO CostProNZ Traffic Update
(3 documents)
- 2006/07 and 2007/08 TelstraClear - TSO traffic adjustment: effect on TSO net cost PDF (76 KB)
- Two errors within the traffic data input to the TSO model for 2006/07 and 2007/08 - the more substantial of which was originally identified by Network Strategies in our report for TelstraClear and Vodafone - have been revised within new traffic data recently supplied by Telecom.
- 2006/07 and 2007/08 TSO CostProNZ Traffic - 24 February 2009 PDF (1.3 MB)
- The Commission sought a clarification of Telecom's -submission where it was explained that a "factor of 2 has to be applied to the Local and National originating traffic".
- 2006/07 and 2007/08 Vodafone Submission on Local Service TSO Determinations PDF (496 KB)
- I refer to the Commission's letter to liable parties dated 24 February 2009.
This letter should be considered alongside the Network Strategies paper dated 9 March 2009 commissioned by Vodafone and TelstraClear
Submissions on Debt Premium
(9 documents)
- 2006/07 and 2007/08 Telecom's Submission and Cross Submission in respect of Consultation on the Cost Of Capital Debt Premium for Local Residential TSO - 14 July 2009 PDF (64 KB)
- On 5 June 2009 the Commission invited submissions by 15 June on its proposed approach to estimating the cost of capital debt premium to be applied for the local residential TSO for the 2006/2007 and 2007/2008 years, (5 June Consultation Letter).
- 2006/07 and 2007/08 Telecom's Submission In Respect Of Consultation On The Cost Of Capital Debt Premium For Local Residential TSO - 15 June 2009 PDF (106 KB)
- On 5 June 2009 the Commission invited submissions on its proposed approach to estimating the cost of capital debt premium to be applied for the local residential TSO for the 2006/2007 and 2007/2008 years, (5 June Consultation Letter)
- 2006/07 and 2007/08 TelstraClear and Vodafone - Cross Submission on Debt Premium - 9 July 2009 PDF (126 KB)
- The Commerce Commission has invited cross submissions on the submissions made on Dr Martin Lally's consultation paper The Estimated Debt Premium for the TSP (5 June 2009). In addition, the Commission has invited submissions on a revised version of this paper dated 25 June 2009.
- Covec TSO Debt Premium Cross-Submission and Submission on Further Consultation - 10 July 2009 PDF (437 KB)
- Covec TSO Debt Premium for the TSP - 12 June 2009 PDF (485 KB)
- Independent opinion for Telecom NZ by Rowan Cook of JP Morgan - July 2009 PDF (76 KB)
- 2006/07 and 2007/08 TelstraClear and Vodafone - Cost of Capital Debt Premium for Local Residential TSO - 15 June 2009 PDF (67 KB)
- The Commerce Commission in its letter of 5 June 2009 has invited submissions on a paper that estimates the debt premium for an efficient Telecommunications Service Provider (TSP) of the local residential Telecommunications Service Obligation (TSO) for 2006/2007 and 2007/2008. Using local data the paper outlines a methodology for estimating the likely range of the debt premium and provides the estimated ranges.
- Telecom - Letter and report from PWC - 19 June 2009 PDF (178 KB)
- You have requested that we provide you with copies of the relevant ANZ Investment Bank month end bond valuation reports that we have used in the calculations summarised in the tables on pages 11 and 12 of our report dated 15 June 2009. The relevant reports are attached to this letter as Attachment B.
- Telecom Consultation on the Cost of Capital Debt Premium for Local Residential TSO - 15 June 2009 PDF (186 KB)
- We present our report which provides our comments on the debt premium calculations in the Commerce Commission's paper "Consultation on the Cost of Capital Debt Premium for Local Residential TSO" and the accompanying paper by Dr Martin Lally "Esitmated Debt Premium for the TSP", both dated 5 June 2009.
Debt Premium Consultation
(5 documents)
- 2006 07 and 2007 08 TSO Telecom RFP to the Banking Sector 14 July 2009 PDF (26 KB)
- 2006/07 and 2007/08 Consultation on the Cost of Capital Debt Premium for Local Residential TSO Draft Determination - 5 June 2009 PDF (42 KB)
- In the TSO Draft Determination for 2006/2007 and 2007/2008, the Commission asked a number of questions relating to the appropriate level for the debt premium applied for the efficient Telecommunications Service Provider (TSP). In all previous determinations a debt premium of 1.5% had been applied.
- 2006/07 and 2007/08 TSO - The Estimated Debt Premium for the TSP - 25 June 2009 PDF (120 KB)
- In accordance with the Telecommunications Act 2001, the Commerce Commission is required to determine the incremental efficient cost to the TSO provider (TSP), net of revenues received, of complying with the TSO. Inter alia, this requires an estimate of the cost of capital for the TSP and therefore its debt premium. The purpose of this paper is to provide an estimate of this debt premium and related costs for the year commencing 1 July 2006 and also for the year commencing 1 July 2007, assuming leverage of 30% and a debt term of one year. The principal conclusions are as follows.
- ABN Amro - Data 2006 & 2007 - Fixed Daily Interest Rate Sheets PDF (477 KB)
- Further Consultation on the Cost of Capital Debt Premium for Local Residential TSO - 29 June 2009 PDF (54 KB)
- On 5 June, the Commission issued a consultation paper on the Cost of Capital Debt Premium for the Local Residential TSO. Submissions were received from Telecom, TelstraClear and Vodafone. On 22 June the Commission invited interested parties to provide cross submissions. Following the receipt of submissions, the Commission once again obtained the expert opinion of Dr Martin Lally to assess claims made in the submissions and to provide further feedback.
TSO Draft - re release of Appendix 4
(1 documents)
- 2006/07 and 2007/08 Release of Appendix 4 from the TSO Draft Report PDF (1.5 MB)
- I refer to your request for access to the Appendix 4 of the Commission's TSO draft reports for the TSO periods of 2006/07 and 2007/08.
TSO Draft - Cross Submissions
(1 documents)
- 2006/07 and 2007/08 Telecom Cross Submission on Commerce Commission's Cost Calculation Draft Determination in Respect of Local Residential TSO PDF (55 KB)
- In this cross submission Telecom responds separately to the points raised in: (a) Vodafone's submission; and (b) Network Strategies' report for TelstraClear and Vodafone.
TSO Draft - Submissions for 2007-2008
(7 documents)
- 2004/05 and 2005/06 Covec - Comments on Telecom's Submission in respect of the Draft Determinations for TSOs - 30 June 2008 PDF (96 KB)
- 2004/05 and 2005/06 TelstraClear and Vodafone - Report on TSO Revised Draft Determinations - 20 June 2008 PDF (206 KB)
- 2004/2005 and 2005/2006Vodafone Submission on the Local Service TSO Revised Draft Determinations - 24 June 2008 PDF (140 KB)
- Vodafone welcomes the opportunity to comment on the Commerce Commission's (the Commission's) TSO Local Service Revised Draft Determinations (draft determinations) for the 2004/05 and 2005/06 financial years.
- 2006/07 and 2007/08 Telecom - Submission on Draft TSO Cost Calculation Determination for TSO Instrument for LRTS - 16 January 2009 PDF (56 KB)
- 2006/07 and 2007/08 TelstraClear - Local Service TSO Draft Determinations - 16 June 2009 PDF (80 KB)
- 2006/07 and 2007/08 TelstraClear and Vodafone - Submission on TSO Draft Determinations - 16 January 2009 PDF (243 KB)
- The Commission's TSO draft determinations for 2006/07 and 2007/08 contain few changes from the 2005/06 final determination. The changes are minor and mostly pertain to incrementing the period from 2005/06 to 2006/07 and 2007/08.
In this report we review the changes and ensure they are correct. We also address the Commission's request for comments on the cost of debt and the debt premium. - Telecom Statement of Claim (application for judicial review) - 20 October 2008 PDF (357 KB)
- Telecom Statement of Claim (application for judicial review) - 20 October 2008
TSO Draft Cost Calculation
(1 documents)
- 2007/08 Draft TSO Cost Calculation Determination for TSO Instrument for Local Residential Telephone Service PDF (258 KB)
- The Telecommunications Act 2001 regulates the supply of telecommunication services in New Zealand. Part 3 of the Act facilitates the supply of certain telecommunications services to groups of end-users within New Zealand who may not otherwise be supplied these services on a commercial basis, or at a price that the Minister considers to be affordable.
Telecom TSO Cost Calculations 2007-2008
(4 documents)
- 2007/08 Telecom - Audit of TSO Revenue Information - 22 September 2008 PDF (72 KB)
- Under the Telecommunications Act 2001 ('the Act'), which commenced on 20 December 2001, the costs of meeting the Telecommunications Service Obligations ('TSO') under the Government's Kiwi Share are to be shared between Telecom and the other telecommunications companies. That is, Telecom bears the cost of meeting these obligations and is able to recover a proportion of the costs from its competitors.
- 2007/08 Telecom - Audit of TSO Revenue Information - Appendix - 22 September 2008 PDF (6.5 KB)
- The following are the Control totals of the 'TSObyline_2008inputs.xls' spreadsheet that we have reviewed.
- 2007/08 Telecom - TSO Cost Calculation - 22 September 2008 PDF (78 KB)
- 2007/08 Telecom Report on TSO Cost Calculation PDF (423 KB)
- This report elaborates on the revenue calculation for the 07/08 TSO. It is in five sections: Section 1 summarises and compares the revenues and weighted line counts by quarters from 06-07 to 07-08; Section 2 summarises the dial-up calculation; Section 3 summarises the ADSL net revenue calculation; Section 4 deals with issues related to number portability; Section 5 provides and initial report on the data at the ESA level in order to identify any potential data issues at this more detailed level. This will continue to be worked on as directed by the Commission.
Confidentiality
(1 documents)
