Submissions sought on valuations of large electricity line companies
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:
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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.nzopen_in_new 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