New Zealand Gazette – 2006 – No. 123

Page 3602

✨ Government Policy Statement on Electricity Governance



3602 NEW ZEALAND GAZETTE, No. 123 30 OCTOBER 2006

Government Policy Statement in relation to Electricity Industry Governance

To the Commerce Commission and the Electricity Commission:

This statement is given to:

  1. the Electricity Commission by the Minister of Energy, pursuant to section 172ZK of the Electricity Act 1992, as a statement of Government policy on the governance of the electricity industry; and

  2. the Commerce Commission by the Minister of Commerce, pursuant to section 26 of the Commerce Act 1986, as a statement of the economic policy of the Government on the electricity industry.

October 2006

GOVERNMENT POLICY STATEMENT ON ELECTRICITY GOVERNANCE

Foreword

The electricity sector has a critical role to play in underpinning the Government’s growth and sustainability objectives. Sustainable economic growth will best be supported by an electricity system that:

  • Is reliable and resilient
  • Is environmentally responsible
  • Delivers energy prices that are efficient, fair, and as competitive as possible consistent with these requirements.

The Electricity Commission has a key role in contributing to these objectives. The Commission’s principal objectives are to ensure that electricity is produced and delivered to all classes of consumers in an efficient, fair, reliable and environmentally sustainable manner and to promote and facilitate the efficient use of electricity.

Electricity security of supply is essential to all aspects of our personal and working lives. The Commission will work with all stakeholder groups to ensure that, as a country, we achieve an appropriate level of security for a modern society.

The Electricity Commission will have responsibility for governance and regulation of the industry. Key roles for the Commission include:

  • Maintaining a regulatory environment that is conducive to investment in all types of generation and that minimises any undue barriers to competition in generation and retail
  • Using reasonable endeavours to ensure the Government’s security target (supply in a 1 in 60 dry year) is achieved
  • Overseeing key decision-making processes to ensure efficient and reliable transmission services.
  • Working with the Commerce Commission to help ensure target security levels for distribution networks are met at least cost
  • Developing arrangements to ensure fairness for consumers


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 123


Gazette.govt.nz — PDF NZ Gazette 2006, No 123




✨ LLM interpretation of page content

🏛️ Government Policy Statement on Electricity Industry Governance (continued from previous page)

🏛️ Governance & Central Administration
30 October 2006
Policy, Electricity, Governance, Ministry of Economic Development, Commerce Commission, Electricity Commission
  • Minister of Energy
  • Minister of Commerce