✨ Government Policy Statement
3632 NEW ZEALAND GAZETTE, No. 123 30 OCTOBER 2006
Accountability requirements
121
The accountability and reporting requirements for the Electricity Commission
are set out in Part 15 subpart 2 of the Electricity Act 1992 and Part V of the
Public Finance Act 1989.
122
The Government expects the Commission to prioritise work on the objectives
and outcomes set out in this Government Policy Statement. The Government
recognises that the Commission has a substantial task in front of it, and that it
will take time to develop its capabilities and expertise. In terms of the
Government’s high level expectations, priority should be given to:
- Managing security of supply and implementing the reserve energy
mechanism - Working with Transpower and grid users to facilitate priority investment
in the grid - Promoting efficient use of electricity
- Improving hedge market transparency and liquidity and demand-side
participation.
123
In addition to the reporting requirements set out in legislation, the Commission
should report at least quarterly to the Minister of Energy on progress against
the Government’s expectations in this Government Policy Statement.
Levy payments
124
The Government will seek an appropriation each year from Parliament to
make payments to the Commission to enable it to perform its functions,
powers and duties. These costs are to be recovered by way of levy from
every industry participant (or class of industry participants) prescribed by
regulations under section 172ZC of the Electricity Act 1992.
125
The Act requires the Commission, in preparing and recommending to the
Minister its proposed appropriation, to consult with affected parties, and to
advise the Government of the outcome of those consultations.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 123
Gazette.govt.nz —
NZ Gazette 2006, No 123
✨ LLM interpretation of page content
🏛️ Accountability requirements for the Electricity Commission
🏛️ Governance & Central AdministrationElectricity Commission, accountability, reporting, Electricity Act 1992, Public Finance Act 1989
🏛️ Government expectations for the Electricity Commission
🏛️ Governance & Central AdministrationElectricity Commission, Government Policy Statement, security of supply, reserve energy, Transpower, grid investment, electricity efficiency, hedge market
🏛️ Levy payments for the Electricity Commission
🏛️ Governance & Central AdministrationElectricity Commission, levy payments, appropriation, Parliament, industry participants, Electricity Act 1992