Public Information Disclosure Requirements Tidied Up

Public Information Disclosure Requirements Tidied up for Regulated Businesses

The Commerce Commission has updated its information disclosure requirements for regulated international airports, electricity lines companies and gas pipeline businesses.

Under Part 4 of the Commerce Act, regulated businesses are required to publicly disclose information about their performance, including their profitability, revenue, capital expenditure and operating expenditure. Electricity lines companies and gas pipeline businesses are also required to publicly disclose their asset management plans. This form of regulation is intended to shed a light on their performance for stakeholders and consumers.

The amendments give effect to some of the Commission’s decisions arising from the recent review of input methodologies and remove ambiguities and gaps in the requirements.

They also adopt the Electricity Engineers’ Association’s asset health indicator guide for the grading of assets for electricity lines companies. This ensures consistency with industry standards commonly used by lines companies when making asset management decisions.

The updated requirements reflect the Commission’s broader focus on getting maximum value out of the information disclosed by regulated businesses. The Commission now has a five year time series of data under the current regime and recently launched a Performance Accessibility Tool to better illustrate the performance of electricity lines companies.

The updated information disclosure requirements can be found on our website.

ENDS

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