9 August 2006
Econet Welcomes Commerce Commission action on Vector
Econet, an aspirant mobile telecommunications company, has complimented the Commerce Commission on its recognition of
the inherent behaviour of network monopolies and for the strength of the policy rationale behind its decision to take
action against energy company, Vector.
"New Zealand has pursued a flawed, hands-off approach to the regulatory management of network industries for too long,
at the customer's expense. Airports, electricity companies and telecommunications companies have all been extracting
monopoly rents from their customers for too long," said Econet Chief Project Director, Tex Edwards.
"The unbundling of Telecom was a milestone in the maturing of New Zealand's regulatory framework. This is another step.
The Econet team is very encouraged by the decision of the Commerce Commission. It can only lead to a better deal for
customers, the lowering the costs of doing business and will create a better environment for investment in New Zealand
businesses," said Edwards.
ENDS