The Marketplace Company applies to Commerce Commission for authorisation
28 May 2002
The Market Administrator of the New Zealand Electricity Market (The Marketplace Company) has applied to the Commerce Commission for authorisation of a proposed arrangement that will increase the amount of information available to market participants in the wholesale electricity market.
This will be done by releasing bid and offer information two weeks after the bids and offers apply.
The proposed arrangement is in the form of a rule change to the New Zealand Electricity Market rules. These rules determine the basis under which most electricity is bought and sold at the wholesale level.
The Commerce Act 1986 prohibits competitors agreeing to work together in a way that reduces competition between them.
However, the Act does allow for authorisation of potentially anti-competitive business practices if the public benefit is greater than the detriment to competition.
Public notices asking for submissions will be published shortly, and interested parties will have until 5 July 2002 to make initial submissions.
Public copies of the application are available from the Commerce Commission's office, Level 10, 44-52 The Terrace, Wellington, or contact Catherine Best on (04) 924 3654.
Media contact: Geoff Thorn, Director of Business Competition
Phone work (04) 924 3620, mobile 029 924 3620
Jackie Maitland, Communications Manager Phone work (04) 924 3708, mobile 029 924 3708