The Commerce Commission (“Commission”), pursuant to section 81 of the Electricity Industry Reform Act 1998
(“the EIR Act”), exempts Mark Tume from compliance
with section 17(2)(b) of the EIR Act in respect of the
cross-involvements (as that term is defined in the EIR Act) with Infratil Limited and Powerco Limited as outlined in
the Commission’s Decision 682 on his application for exemption.
1. Whilst Mark Tume is involved with both Infratil Limited and Powerco Limited, he shall not participate in any discussions or decision making by Infratil Limited and/or Powerco Limited regarding any of the matters listed below:
? The connection of TrustPower Limited’s generators to both Powerco Limited’s network and any other lines company’s network;
? TrustPower Limited’s use of system agreement in respect of Powerco Limited’s network and any other lines company’s network;
? other electricity sellers use of system agreements in respect of Powerco Limited’s network;
? the supply of electricity by any electricity seller (including TrustPower Limited) to any of Powerco Limited’s network customers; or
? the supply of electricity by TrustPower Limited to Powerco Limited.
In addition, he shall not disclose the outcomes of any discussions or decision making by Powerco Limited on these matters to Infratil Limited, or any shareholder, director or staff member of Infratil Limited (and vice versa).
2. Mark Tume shall provide an annual declaration of compliance with arm’s-length and use-of-system agreements rules to the Commission. Mark Tume shall declare in writing that, to the best of his knowledge, he, Infratil Limited, TrustPower Limited and Powerco Limited are complying with the arm’s-length rules and the use-of-systems agreements rules. The first such declaration shall be by 31 October 2010 and annually thereafter.
3. Mark Tume will confirm to the Commission, in writing, that the prohibited involvements to which this exemption applies have ceased within one calendar month of the prohibited involvements ceasing to exist.
4. This exemption expires when the Commission publishes on its website Mark Tume’s written confirmation that
his prohibited involvements have ceased, unless any variation or earlier revocation in terms of section 81(5) occurs before that event.
5. This exemption is specific to the prohibited involvements created through Mark Tume’s involvements in Powerco Limited and Infratil Limited. It does not extend to
any other interest or existing or future prohibited involvements of Mark Tume.
The exemption takes effect from the date of publication of this notice in the New Zealand Gazette.
The Commission may vary or revoke the exemption in accordance with section 81(5) of the EIR Act.
Dated this 10th day of November 2009.
DR MARK BERRY, Chair.