✨ Commerce Act Regulations
NEW ZEALAND GAZETTE, No. 106
27 JUNE 2008
SCHEDULE 1
SPECIFICATIONS FOR DETERMINATION OF AC AND HVDC REVENUE REQUIREMENTS
1 Definition of AC or HVDC revenue requirement
For the purposes of this Schedule 1—
AC revenue requirement means the AC forecast revenue requirement or the AC year end revenue requirement, as the case may be
AC or HVDC revenue requirement means the AC forecast revenue requirement or the AC year end revenue requirement or the HVDC forecast revenue requirement or the HVDC year end revenue requirement, as the case may be
HVDC revenue requirement means the HVDC forecast revenue requirement or the HVDC year end revenue requirement, as the case may be.
2 Building blocks methodology
Transpower is to use a building blocks approach to calculate its AC or HVDC revenue requirement, in a manner consistent with this Schedule 1.
3 Regulatory asset base
(1) In calculating the regulatory asset base used in determining the AC or HVDC revenue requirement for each assessment period—
(a) all of Transpower’s transmission fixed assets (system fixed assets and other assets) used to provide specified services as at 30 June 2006 may be included in the asset base as at 30 June 2006;
(b) subject to paragraph (c), Transpower is to use depreciated historical cost accounting principles to value the fixed assets in the regulatory asset base;
(c) the depreciated historical cost value of the assets included in the regulatory asset base as at 30 June 2006 will be the optimised deprival value (ODV) of Transpower’s AC or HVDC (as the case may be) system fixed assets and other assets used to provide specified services as at 30 June 2006;
(d) Transpower’s AC or HVDC (as the case may be) system fixed assets and other assets used to provide specified services that are acquired subsequent to 30 June 2006 and before the end of the assessment period, are to be recorded at cost in a manner consistent with GAAP and may be brought into the regulatory asset base in accordance with clause 3 of this Schedule.
(2) Fixed assets used solely for the purposes of providing system operator services are not to be part of the regulatory asset base.
(3) Transpower is to use the asset values in its financial accounts for the purposes of determining the regulatory asset base on and from 1 July 2006. To align these asset values to the ODV asset values as at 30 June 2006 Transpower is to create five "pseudo"
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NZ Gazette 2008, No 106
✨ LLM interpretation of page content
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Commerce Act (Transpower Thresholds) Notice 2008
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🏭 Trade, Customs & Industry27 June 2008
Commerce Act, Transpower, Thresholds, Notice, 2008, Asset Management, Information Requirements, Compliance, Revenue Requirement