✨ Commerce Act Notice
NEW ZEALAND GAZETTE, No. 106
27 JUNE 2008
Part 2
Process for determining transmission (non-Part F capex) thresholds for assessment periods ending 30 June 2010 and 2011
For each of the assessment periods ending 30 June 2010 and 2011, the transmission (non-Part F capex) threshold is to be established as follows:
(a) Transpower will record any material changes to its asset management, business planning, and capital works policies or processes relating to non-Part F capex that have occurred during the calendar year before the commencement of the assessment period. These records are to be provided to the Commission in January immediately preceding the commencement of the assessment period;
(b) during that January Transpower will make available to the Commission a schedule that shows, for non-Part F capex projects completed in the second half of the calendar year before the commencement of the assessment period, a comparison of actual expenditure in that second half versus budgeted expenditure for that second half. Reasons for variations will be provided for all projects that have exceeded 10% of budgeted cost;
(c) Transpower will make available to the Commission upon request a schedule which sets out significant movements of non-Part F capex projects into and out of the capital works plan which have occurred during the second half of the calendar year before the commencement of the assessment period as well as a forecast of similar movements for the first half of the following calendar year;
(d) Transpower will prepare its non-Part F capex plan and business plan forecasts for the assessment period in accordance with capital works and business planning processes and policies in the January/February immediately preceding the commencement of the assessment period;
(e) Transpower will ensure contingency sums are adjusted to no more than 7.5% for IT and 0% for replacement, refurbishment, minor development, and enhancement expenditure;
(f) Transpower will make available to the Commission upon request project approval documentation, including a final schedule of all projects making up the proposed non-Part F capex, for the assessment period, together with the project approval status, in final non-draft form (non-Part F capex plan);
(g) the Commission (at its discretion) will consult on and review (or engage an independent third party to review) the non-Part F capex plan beginning in February immediately before the commencement of the assessment period in order, among other things, to provide assurance that—
(i) the levels of contingency included in the project budgets have been established in accordance with paragraph (e) above;
(ii) the expenditure forecasts have been prepared in accordance with Transpower’s capital works and IT planning processes and policies;
(iii) Transpower’s processes have considered and targeted appropriate least-cost, efficient, interventions;
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NZ Gazette 2008, No 106
✨ LLM interpretation of page content
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Commerce Act (Transpower Thresholds) Notice 2008 Schedule
(continued from previous page)
🏭 Trade, Customs & Industry27 June 2008
Commerce Act, Transpower, Thresholds, Schedule, Non-Part F Capex, Asset Management, Criteria