INDEPENDENT NEWS

Gas information disclosure regulations tightened

Published: Wed 3 May 2000 03:46 PM
The regulations covering the information that gas companies must disclose are being tightened, Minister of Energy Pete Hodgson said today.
Mr Hodgson said Cabinet had approved amendments to the regulations on Monday. The changes were part of an evolutionary process of improvement.
"The information disclosed under the regulations is designed to help gas users monitor and negotiate with pipeline owners," Mr Hodgson said. "It should also promote access to Commerce Act remedies by private parties or the Commerce Commission.
"The regulations are focused on gas transmission and distribution pipeline businesses that have the potential to exercise market power. The purpose is to promote transparency of conduct and performance of pipeline owners.
"There must be curbs on monopoly power and these regulations represent a key component of the regulatory regime for the gas industry."
Mr Hodgson said the Government will consider the need for further regulatory changes in the gas market in the light of the results of the enhanced disclosure regime.
The amendments to the regulations tighten rules for accounting and for calculating performance measures, require the use of a mandatory optimised deprival valuation methodology for valuing pipeline fixed assets, require pipeline owners to disclose asset management planning information, introduce new measures of reliability performance and provide for most disclosed information to be made available on the Internet.
The enhanced regulations will apply to companies’ activities for the 2000/01 financial year.
ends

Next in New Zealand politics

Resolution for Canterbury owners of on-sold homes
By: New Zealand Government
First urban growth partnership signed
By: New Zealand Government
Secondary principals to vote on industrial action
By: Post Primary Teachers' Association
Update: Serious incident, Gore
By: New Zealand Police
Accused mosque shooter's letter posted to 4chan
By: RNZ
National’s Campaign Chair Announced
By: New Zealand National Party
Historic abuse survivors can speak freely
By: New Zealand Government
Sexual Violence Court reduces lead-up times and trauma
By: Chief District Court Judge
New prospects for owners of Canterbury on-sold property
By: Earthquake Commission
Growing Hamilton isn’t a choice, it’s a responsibility
By: Hamilton City Council
Police collision with motorcycle following pursuit in Chch
By: Independent Police Conduct Authority
Police accept IPCA report into Christchurch motorcycle crash
By: New Zealand Police
Trial of Christchurch mosque attack accused may be delayed
By: RNZ
Fourth court hearing for accused mosque gunman
By: RNZ
Teen pleads guilty to possessing mosque shoooting video
By: RNZ
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media