INDEPENDENT NEWS

Commission grants exemption to The Lines Company

Published: Fri 2 Nov 2007 11:52 AM
Media Release Issued 01 November 2007/ no 52
Electricity Industry Reform Act: Commission grants exemption to The Lines Company
The Commerce Commission has granted The Lines Company Limited (TLC) a limited exemption under the Electricity Industry Reform Act 1998 (the EIR Act) in relation to its proposed involvement in the development of a hydro-generation plant, located on the Waikohu Stream near Gisborne.
The hydro-generation plant will be developed by TLC’s wholly owned subsidiary Matawai Hydro Limited (MHL). The limited exemption to TLC is granted in respect of section 17 of the EIR Act in relation to the appointment of managers to the board of MHL. The exemption is conditional on TLC not appointing more than two out of three directors to the Board of MHL, and on TLC and MHL complying with rules 1 to 6 and 11 to 15 of the Arms Length Rules of the EIR Act.
The exemption is also conditional on the generation assets not being connected to TLC’s electricity lines networks, and on TLC not selling the resulting electricity to customers located on its own network.
Ends

Next in New Zealand politics

Grant Robertson To Retire From Parliament
By: New Zealand Labour Party
Budget Will Be Delivered On 30 May
By: New Zealand Government
New Zealand Provides Further Humanitarian Support To Gaza And The West Bank
By: New Zealand Government
High Court Judge Appointed
By: New Zealand Government
View as: DESKTOP | MOBILE © Scoop Media