✨ Commerce Act Definitions
2796 NEW ZEALAND GAZETTE, No. 106 27 JUNE 2008
revenue (as the case may be) for that assessment period and the AC or HVDC year end revenue requirement (as the case may be) for that assessment period
force majeure event, in relation to non-Part F capex and an assessment period, means—
(a) an event occurring during or prior to that assessment period that is beyond the reasonable control of Transpower (event) and the occurrence of which at that time could not reasonably have been foreseen by Transpower at the time the transmission (non-Part F capex) threshold for that assessment period was set; and
(b) no forecast capital expenditure for the event was included in that threshold; and
(c) Transpower proposes to undertake non-Part F capex during that assessment period to rectify the adverse consequences of the event; and
(d) the total of the non-Part F capex required to rectify the adverse consequences of the event exceeds, or is reasonably anticipated by Transpower to exceed, $5 million; and
(e) the non-Part F capex is such that, if undertaken, it is reasonably likely (in the absence of any reduction in other non-Part F capex) to result in the total actual non-Part F capex for that assessment period or any subsequent assessment period exceeding the non-Part F capex threshold for the relevant assessment period; and
(f) a failure to rectify the adverse consequences of the event would be likely to materially adversely affect the reliability and security of Transpower’s transmission system; and
(g) Transpower can demonstrate that it is not able to reduce capital expenditure in other areas without materially adversely affecting the reliability and security of its transmission system
GAAP means generally accepted accounting practice as defined in section 3 of the Financial Reporting Act 1993
HVDC means high voltage direct current
HVDC customer means, in relation to an assessment period, any customer by or to whom HVDC transmission charges are payable in the relevant pricing year
HVDC forecast revenue requirement, in relation to an assessment period, means the amount determined by Transpower in a manner consistent with Schedule 1, prior to the start of the relevant pricing year, using forecast data for the assessment period and including any EV adjustment for the purposes of determining and recovering HVDC transmission charges applicable to the relevant pricing year
HVDC revenue means, in relation to an assessment period, the summation of all HVDC transmission charges (inclusive of any rebates) for the relevant pricing year
Next Page →
NZ Gazette 2008, No 106
✨ LLM interpretation of page content
🏭
Commerce Act (Transpower Thresholds) Notice 2008
(continued from previous page)
🏭 Trade, Customs & IndustryCommerce Act, Transpower, Thresholds, Notice, 2008, Definitions, Assessment, Auditor, CPI, Customer, Economic Value