Commerce Commission CPP Open Letter July 2018
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EEA Conf Programme 2021
Conference Programme - Provisional - 29 March 2021 WEDNESDAY, 30 JUNE 2021 8.30am REGISTRATION & TRADE EXHIBITION OPENS ROOM 3 ROOM 4 ROOMS 2 TO 4 9.30am CONFERENCE OPENING 9.35am Keynote Address 1 10.10am Keynote Address 2 10.45am ROOM 1 ROOM 2 ROOM 3 ROOM 4 CARBON ZERO SMART TECHNOLOGY FUTURE GRIDS PANEL SESSION 1 11.00am Architecture of the Future Low-Carbon, ConductorDown – A groundbreaking safety solution for New approaches to network planning. Details to be advised Resilient, Electrical Power System. overhead distribution networks. Richard Kingsford, WEL Networks Prof. Neville Watson, University of Rodger Griffiths, Electronet Technology Canterbury 11.30am Perverse incentives creating an impact on Practical experience of IEC61850 and future IoT for a smarter grid. network performance and New Zealand’s zero applications. Max Feickert, Energy Outcomes & Darren carbon future. Nathan Rich, Connetics Ltd Lucinsky, Electra Ltd Dougal McQueen & Junaid Qureshi, Aurora Energy 12.00pm The effects on the wider electricity network of Enhancing rating studies through soil digital twin. The use, development and improvement of heating decarbonisation projects. Nu’man Rashid, Unison Networks Ltd approaches for generation balancing to meet peak Campbell Rae, Connetics Ltd demand. Katherine Moore, Transpower NZ Ltd 12.30pm LUNCH ASSET MANAGEMENT INNOVATION FUTURE ENERGY SECURITY INNOVATIVE TECHNOLOGY SMART TECHNOLOGY 1.30pm Rethinking test data and reporting. An Electricity network infrastructure resilience through the Implementation of Whangamata’s -
Genesis Energy
NEW ZEALAND Genesis Energy 13 June 2008 Performance evaluation Genesis Energy equity valuation Macquarie Research’s discounted cashflow based equity valuation for Genesis Energy is $2,115m (nominal WACC 9.17%, asset beta 0.60, TGR 3.0%). Forecast financial model A detailed financial model with explicit forecasts out to 2030 has been completed and is summarised through this report. 12 month and 24 month target valuations Our 12 month ($2,257m) and 24 month ($2,433m) target valuations for the company have been derived by rolling forward the discounted cashflow model 12 and 24 months respectively and deducting from these values the forecast 12 and 24 month dividends to the Crown. Financial model assumptions and commentary We have assessed the sensitivity of our equity valuation to a wide range of inputs. Broadly, these sensitivities are divided into five categories: generation Inside assumptions, electricity supply, gas supply, financials and price path. Performance evaluation report 2 This report highlights and discusses a number of key model input assumptions: Valuation summary 5 ⇒ The extent to which Huntly coal is backed off; Financial model assumptions and ⇒ The company’s retail and SME pricing position; commentary 11 ⇒ Future fuel cost position; Financial statements summary 18 ⇒ Genesis Energy Retail Gas margins; and Genesis Energy historic and forecast performance 21 ⇒ Wholesale electricity price paths. Historic and forecast performance versus SCI Financial flexibility and generation development 22 We have analysed the spread between Genesis Energy’s return on funds and its WACC to gauge its historic and forecast financial performance; Alternative valuation methodologies 23 We have compared our forecasts for Genesis Energy against those outlined in its Statement of Corporate Intent (SCI). -
Confidential Version
Public Version ISSN No. 0114-2720 11711/900832 Decision No. 682 Determination pursuant to the Electricity Industry Reform Act 1998 (EIR Act) in the matter of an application for exemption, of a prohibited involvement in an electricity lines business and an electricity generation and sales business, from the application of the EIR Act. The application is made by: MARK TUME The Commission: M N Berry P J M Taylor Summary of Application: Application by Mark Tume for exemption from the application of the EIR Act in respect of certain prohibited involvements in Powerco Limited’s lines and in the generation and sale of electricity by TrustPower Limited. Determination: The Commission, pursuant to section 81 of the EIR Act, determines to grant an exemption from compliance with section 17(2)(a) of the EIR Act, but with the conditions specified in the Notice of Exemption. Date of Determination: 10 November 2009 CONFIDENTIAL MATERIAL IN THIS REPORT IS CONTAINED IN SQUARE BRACKETS 2 CONTENTS INTRODUCTION .........................................................................................................3 COMMISSION PROCEDURES...................................................................................3 General.......................................................................................................................3 Criteria Used by the Commission to Consider Exemption Applications ..................3 PARTIES .......................................................................................................................5 -
2010 Default Price-Quality Path Compliance Assessment Decision
COMMERCE COMMISSION Regulation of Electricity Lines Businesses Price-Quality Regulation Reasons for Not Declaring Control of the following Non-exempt Electricity Distribution Businesses: Alpine Energy Limited, Centralines Limited, Eastland Network Limited, Horizon Energy Distribution Limited, Nelson Electricity Limited, Network Tasman Limited, Orion New Zealand Limited, OtagoNet Joint Venture, Powerco Limited, The Lines Company Limited, Top Energy Limited and Wellington Electricity Lines Limited 1 April 2011 CONTENTS PAGE INTRODUCTION .................................................................................................. 3 Purpose and Scope .............................................................................................. 3 Electricity Distribution Businesses Assessed ................................................... 3 Statutory Framework ......................................................................................... 4 Consumer-owned .................................................................................................................. 4 Process and Analytical Framework Applied ................................................... 5 Overview of the 2009/10 Assessment ................................................................ 6 Breaches of the Price Path ................................................................................................... 6 Breaches of the Quality Threshold ..................................................................................... 11 DECISIONS – -
EV CONNECT CONSULTATION DRAFT ROADMAP Consultation Close Date: 15 July 2021
EV CONNECT CONSULTATION DRAFT ROADMAP Consultation close date: 15 July 2021 Released May 2021 EV CONNECT – DRAFT ROADMAP CONTENTS 1. Introduction 3 2. Context 7 3. Roadmap objectives 11 4. Roadmap approach and actions 12 5. Building on EV Connect progress 17 6. Getting to the starting line 20 Acknowledgements We acknowledge the input and engagement from our stakeholders through 2020-21 which have contributed to the scope and direction outlined in the roadmap and key actions within it. We also acknowledge the support of GreenSync – particularly Bridget Ryan - in helping us to write and refine this Draft Roadmap. Finally, we acknowledge the funding, support and engagement of EECA on the EV Connect project. Copyright © 2021, Wellington Electricity Lines Limited (WELL) Disclaimer The information contained in this document provides a summary of the subject matter covered. While we use all reasonable attempts to ensure the accuracy and completeness of the information, facts and opinions herein, we make no warranty or guarantees on the information. Page 2 of 25 EV CONNECT – DRAFT ROADMAP In New Zealand, electricity distribution is regulated. The Commerce 1. Introduction Commission sets how much money an Electricity Distribution Business As electric vehicle (EV) uptake increases, electricity networks will be (EDB) has to build and operate their network, the services provided and required to manage the associated increase in demand for electricity. The the level of quality delivered. The Electricity Authority defines how EDBs increase will be significant – our studies show that a small EV will increase interact with other industry participants and customers. household electricity use by 35%. -
Extending the Electricity Price Review's
Extending the Electricity Price Review’s Final Recommendations to the Gas Market – Submissions Analysis and Recommendations 8 March 2021 Executive Summary In April 2018, the Government appointed an advisory panel to investigate whether the current electricity market delivers “efficient, fair and equitable prices [to customers]” (Electricity Price Review or EPR). That panel issued its final report in May 2019 (Report). Given the similarities and links between the electricity and natural gas and LPG (Gas) markets1, and Gas Industry Company's (GIC) policy objective “To ensure that gas is delivered to existing and new customers in a safe, efficient, fair, reliable and environmentally sustainable manner”, GIC considers it prudent to consider extending the EPR recommendations to the Gas market. GIC has established a workstream to investigate the application of the 32 EPR recommendations to the Gas market. GIC published a consultation paper on 6 November 2020 (Consultation Paper). Submissions closed on 4 December 2020. GIC received 15 submissions in response to the Consultation Paper. GIC has now reviewed these submissions and has developed a set of recommended next steps. These recommendations are set out in this paper. 1 Both markets referred to from this point as the “Gas market”. 2 Contents EXECUTIVE SUMMARY 2 CONTENTS 3 1. PURPOSE AND PROCESS UPDATE 4 1.1 Purpose 4 1.2 Consultation process update 4 2. SUMMARY OF SUBMISSIONS 5 2.1 Overview 5 2.2 Submission themes 5 3. GIC IMPLEMENTATION RECOMMENDATIONS SNAPSHOT 6 3.1 GIC has updated its EPR recommendations following its analysis of the submissions received 6 3.1.1 Strengthening the consumer voice 6 3.1.2 Reducing energy hardship 6 3.1.3 Increasing retail competition 7 3.1.4 Reinforcing wholesale market competition 7 3.1.5 Improving transmission and distribution 8 3.1.6 Improving the regulatory system 8 3.1.7 Preparing for a Low-Carbon Future 9 4. -
Pwco AR 2004 AW.Id2
ANNUAL REPORT POWERCO HAS GROWN TO BECOME NEW ZEALAND’S LARGEST GAS DISTRIBUTION COMPANY A N D SECOND LARGEST CONTENTS 1 HIGHLIGHTS OF 2003-2004 39 FINANCIAL STATEMENTS 2 FINANCIAL PERFORMANCE AND KEY RATIOS 40 STATEMENT OF FINANCIAL PERFORMANCE 4 CHAIRMAN’S LETTER 40 STATEMENT OF MOVEMENTS IN EQUITY 10 CHIEF EXECUTIVE’S REVIEW 41 STATEMENT OF FINANCIAL POSITION 18 NEW ZEALAND AND AUSTRALIA BUSINESS PROFILES 42 STATEMENT OF CASH FLOWS 20 LINE CHARGES 44 RECONCILIATION OF OPERATING SURPLUS AFTER TAXATION WITH CASH INFLOW FROM OPERATING 21 NEW PRICE REGULATIONS ACTIVITIES 22 NETWORK RELIABILITY 45 STATEMENT OF ACCOUNTING POLICIES 24 FEBRUARY STORMS 47 NOTES TO FINANCIAL STATEMENTS 25 TASMANIAN NETWORK 63 AUDITOR’S REPORT 26 BOARD OF DIRECTORS 64 STATUTORY INFORMATION 28 EXECUTIVE MANAGEMENT TEAM 73 DIRECTORY 30 CORPORATE GOVERNANCE 35 DIRECTORS’ INFORMATION FINANCIAL CALENDAR 18 June 2004 2003-04 final dividend payment Mid December 2004 2003-04 interim dividend payment 29 June 2004 Guaranteed bond interest payment 29 December 2004 Guaranteed bond interest payment 27 July 2004 Shareholders’ annual meeting 22 February 2005 Capital bond interest payment 23 August 2004 Capital bond interest payment 1 March 2005 Redeemable fixed coupon bond 1 September 2004 Redeemable fixed coupon bond interest payment interest payment 29 March 2005 Guaranteed bond interest payment 29 September 2004 Guaranteed bond interest payment This Annual Report is dated 16 June 2004 and is signed on Mid November 2004 2003-04 interim report behalf of the Board by: 22 November 2004 Capital bond interest payment Barry Upson Ian Lobb Chairman Deputy Chairman EBITDA and dividend increased in 2003-04 ELECTRICTY DISTRIBUTOR. -
Annual Report 2013 -2014
Annual Report 2013 -2014 Northpower Transmission Line Mechanic Lenny Goodwin. Northpower Annual Report 2013-2014 The Board of Directors is pleased to present the Annual Report of Northpower Ltd and its subsidiaries (West Coast Energy Pty Ltd and Northpower Western Australia Pty Ltd) for the year ended 31 March 2014. Warren Moyes (Chairman) David Ballard Russell Black Nikki Davies-Colley Ken Hames Michael James John Ward For and on behalf of the Board of Directors. Warren Moyes Nikki Davies-Colley Chairman Director “safe, reliable, hassle free service” Table of contents Northpower Annual Report 2013-2014 Chairman’s report 1 Chief Executive’s report 3 Financial overview 6 Northpower’s Network 9 Northpower New Zealand Contracting 12 West Coast Energy 16 Our fibre network 17 Pacific Islands 18 Northpower Electric Power Trust 19 Safety and achievements 20 Community and sponsorship 23 Financials 28 Board of Directors’ report 31 Directors’ responsibility statement 32 Governance statement 33 Statement of service performance 34 Comprehensive income statement 35 Balance sheet 36 Statement of changes in equity 37 Cash flow statement 38 Notes to financial statements 39 Directory 79 “safe, reliable, hassle free service” ChaiRMAN’S RepoRT It’s not often you can Having recently opened our new depot in Perth, I see reflect on a career our growth only strengthening. We have put a stake role spanning 21 years in the ground and will continue to service our clients but as I look back on well while growing our profitability. Without the well Northpower’s success considered support of the Northpower Electric Power over the past 12 months Trust this would not have been possible. -
Energy Policies of IEA Countires
ENERGY POLICIES OF IEA COUNTRIES New Zealand 2017 Review Secure Sustainable Together ENERGY POLICIES OF IEA COUNTRIES New Zealand 2017 Review INTERNATIONAL ENERGY AGENCY The International Energy Agency (IEA), an autonomous agency, was established in November 1974. Its primary mandate was – and is – two-fold: to promote energy security amongst its member countries through collective response to physical disruptions in oil supply, and provide authoritative research and analysis on ways to ensure reliable, affordable and clean energy for its 29 member countries and beyond. The IEA carries out a comprehensive programme of energy co-operation among its member countries, each of which is obliged to hold oil stocks equivalent to 90 days of its net imports. The Agency’s aims include the following objectives: n Secure member countries’ access to reliable and ample supplies of all forms of energy; in particular, through maintaining effective emergency response capabilities in case of oil supply disruptions. n Promote sustainable energy policies that spur economic growth and environmental protection in a global context – particularly in terms of reducing greenhouse-gas emissions that contribute to climate change. n Improve transparency of international markets through collection and analysis of energy data. n Support global collaboration on energy technology to secure future energy supplies and mitigate their environmental impact, including through improved energy efficiency and development and deployment of low-carbon technologies. n Find solutions -
Securities and Exchange Commission Washington, D.C
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM U-57 NOTIFICATION OF FOREIGN UTILITY COMPANY STATUS Filed under Section 33(a) of the Public Utility Holding Company Act of 1935, as amended UTILITY INVESTMENTS LIMITED P.O. Box 1867 Auckland, NZ TRUSTPOWER LIMITED Private Bag 12023 Tauranga, New Zealand INFRASTRUCTURE & UTILITIES NZ LIMITED PO Box 320 Wellington, New Zealand ------------------------------------------------- (Name of foreign utility companies) Alliant Energy Corporation 222 West Washington Avenue Madison, Wisconsin 53703 ------------------------------------------------ (Name of filing company if filed on behalf of a foreign utility company) The Commission is requested to mail copies of all communications relating to this Notification to: Barbara J. Swan General Counsel Alliant Energy Corporation 222 West Washington Avenue Madison, Wisconsin 53703 William T. Baker, Jr. Thelen Reid & Priest LLP 40 West 57th Street New York, New York 10019 Alliant Energy Corporation ("Alliant"), a Wisconsin corporation and a registered holding company under the Public Utility Holding Company Act of 1935 (the "1935 Act"), as amended, acting on behalf of Utility Investments Limited ("UIL"), a New Zealand company, TrustPower Limited ("TrustPower"), a New Zealand company, and Infrastructure & Utilities NZ Limited ("Infratil"), a New Zealand company, hereby notifies the Securities and Exchange Commission (the "Commission") that UIL, TrustPower and Infratil each is, and hereby claims status as, a foreign utility company ("FUCO") within -
Powerco's Submission to the Commerce Commission In
POWERCO’S SUBMISSION TO THE COMMERCE COMMISSION IN RESPONSE TO ITS DRAFT DECISION PAPERS OF 23 DECEMBER 2002 AND 31 JANUARY 2003 Introduction This document supplies Powerco’s submission to the Commerce Commission, in relation to its draft decisions relating to the Regulation of Electricity Lines Businesses (31 January 2003). Powerco has contributed at every stage of the Commerce Commission’s process in establishing a method of price control for electricity lines businesses. Powerco’s stance has been to support the development of a workable, fair and even- handed regulatory structure, that delivers long term benefit for consumers while still providing incentives to businesses to operate efficiently and effectively. However, Powerco has serious concerns about the proposals contained in the Commission’s January draft decisions. Our concerns relate primarily to: · The effectively universal nature of the control proposed; · The proposals’ inconsistency with achieving the purpose statement; · The likely impact of the proposals, including flight of capital from the sector, a loss of dynamic efficiency, and a deterioration of infrastructure due to reduced investment in maintenance and improvement. This submission includes a number of parts, namely: · The summary of our legal arguments; · Our responses to the Commerce Commission’s specific questions, and · Submissions from Powerco’s expert witnesses: o John Hagen – Chairman, Deloitte Touche Tohmatsu (NZ) o David Emanuel - Professor, University of Auckland o Barry Upson - Chairman, Powerco Limited o Kerrin Vautier – Research Economist o Alan Tregilgas – Practicing Utilities Regulator in Australia o UMS Group – International Utilities Benchmarking Consultancy o Steven Boulton – Chief Executive, Powerco Limited Each element of the submission deals with a different aspect of Powerco’s argument against the current Commerce Commission proposals. -
Electricity Distribution Distribution Policy, Regulation and Implications for the Electricity Sector
Electricity distribution Distribution policy, regulation and implications for the electricity sector Name of presenter Mike Hensen Venue or event Wind Energy Conference Date of presentation 14 April 2016 Thinking about the future • Starting point - current situation - Foundation of current distribution model: - Economies of scale and co-ordination - Regulation of geographical monopolies - Demand for services and cost - Regulator consultations • 5 to 10 year outlook – hard to pick change triggers - Material change in network use? - Potential review of input methodology? - Unlikely to be enough time for step change in either: - Economies of scale/co-ordination in electricity supply - Regulator problem definition and approach • Outlook 10-20 years – history of structural reform? 2 Current situation • Modest demand growth - Most customers expect instant access to capacity • Varied tariff structures - Revenue relies on energy supplied rather than capacity • Regulated price/quality path - Allow fair market return on assets - WACC uplift supposed to avoid under-investment • Foundation of distribution model looks durable: - Batteries etc. also offer economies of scale/co-ordination - Unchanged regulator issue - geographical monopoly - New twist - how to encourage monopolies to innovate 3 Demand drivers – slow growth Index EDB service demand indicators 1150 1125 1100 1075 1050 1025 1000 975 950 2009 2010 2011 2012 2013 2014 2015 Year Electricity Supplied Maximum coincident demand Number of Connection Points Transformer capacity • Core EDB service