Regulation Under The Commerce Act
The revenue that Transpower receives for the provision of the transmission service is regulated by the Commerce Commission, under Part IV of the Commerce Act. The type of regulation is individual price-quality path (IPP) regulation, and came into effect on 1 April 2011. The individual price-quality path governs Transpower’s revenues for each pricing year, with the paths being reset either every four or five years. Quality targets for the transmission service are also reviewed and monitored in the regulatory process.
Read more about this topic: Transpower New Zealand Limited
Famous quotes containing the words regulation, commerce and/or act:
“Lots of white people think black people are stupid. They are stupid themselves for thinking so, but regulation will not make them smarter.”
—Stephen Carter (b. 1954)
“Practically speaking, the opponents to a reform in Massachusetts are not a hundred thousand politicians at the South, but a hundred thousand merchants and farmers here, who are more interested in commerce and agriculture than they are in humanity, and are not prepared to do justice to the slave and to Mexico, cost what it may. I quarrel not with far-off foes, but with those who, near at home, coöperate with, and do the bidding of, those far away, and without whom the latter would be harmless.”
—Henry David Thoreau (1817–1862)
“Pretension may sit still, but cannot act. Pretension never feigned an act of real greatness. Pretension never wrote an Iliad, nor drove back Xerxes, nor christianized the world, nor abolished slavery.”
—Ralph Waldo Emerson (1803–1882)