✨ Financial Statements Notes
4588
NEW ZEALAND GAZETTE, No. 157
29 NOVEMBER 2006
UNISON NETWORKS - LINES BUSINESS
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 March 2006
22 OTHER MATTERS
Unison is subject to the Commerce Commission’s Price and Quality Threshold Regime which applies to electricity lines businesses.
The Commerce Commission had published an intention to declare control of Unison’s prices. This is based on a preliminary view that Unison’s current level of charges result in excessive profits being earned and that the benefits of control outweigh the costs.
Unison has provided the Commerce Commission with an administrative settlement offer. The Commerce Commission is expected to consult on the administrative settlement offer during November 2006. In developing an administrative settlement offer, Unison has made, and the Commerce Commission has accepted an interim offer to reduce line charges in Taupo and Rotorua from 1 April 2006. This equates to a $1.9 million reduction in revenues. The final settlement offer includes a further reduction in revenue of $694 thousand on an annualised basis, to take effect from 1 December 2006, together with a rebalancing of tariffs between regions and customer groups. The Commerce Commission has announced that it has formed the view that the administrative settlement offer made by Unison should (subject to public consultation) be accepted. The formal outcome of this should be known in December.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 157
Gazette.govt.nz —
NZ Gazette 2006, No 157
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Notes to Financial Statements for Unison Networks Limited
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🏭 Trade, Customs & IndustryFinancial statements, Commerce Commission, Price regulation, Administrative settlement, Revenue reduction