Notification of Commerce Commission’s Transpower Information Disclosure (Amendments Related to IM Review 2023 and Transmission Pricing Methodology 2022) Amendment Determination 2024 and Replacement of Material Incorporated by Reference
The Commerce Commission (“Commission”) gives notice that under Part 4 of the Commerce Act 1986 (“Act”), the Commission has determined and published the Transpower Information Disclosure (amendments related to IM Review 2023 and Transmission Pricing Methodology 2022) Amendment Determination 2024 (“Transpower ID Amendment Determination 2024”).
Under section 52Q of the Act, the Transpower ID Amendment Determination 2024 amends the Transpower Information Disclosure Determination 2014 [2014] NZCC 5 (“principal determination”) to add, change or remove some information disclosure (“ID”) requirements for Transpower. These changes will align Transpower’s ID requirements with the Input Methodologies Review and updated Transmission Pricing Methodology and enable stakeholders, including consumers, to better understand how Transpower is performing.
The Commission gives notice that, under Schedule 5 of the Commerce Act 1986, it has replaced materials incorporated by reference in the principal determination as set out in the following table:
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Original materials incorporated by reference |
Replacement materials incorporated by reference |
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International Standard on Assurance Engagements (New Zealand) 3000, Assurance Engagements Other than Audits or Reviews of Historical Financial Information, issued by the New Zealand Auditing and Assurance Standards Board of the External Reporting Board in July 2014, under the Financial Reporting Act 2013 |
International Standard on Assurance Engagements (New Zealand) 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information (ISAE (NZ) 3000 (Revised)), issued by the New Zealand Auditing and Assurance Standards Board of the External Reporting Board in July 2014 and incorporating amendments up to May 2022, under the Financial Reporting Act 2013 |
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Standard on Assurance Engagements 3100 – Compliance Engagements, issued by the External Reporting Board in October 2014 and incorporating amendments up to August 2014, under the Financial Reporting Act 2013 |
Standard on Assurance Engagements 3100 (Revised) – Compliance Engagements (SAE 3100 (Revised)), issued by the New Zealand Auditing and Assurance Standards Board of the External Reporting Board in March 2017 and incorporating amendments up to May 2022, under the Financial Reporting Act 2013 |
A copy of the Transpower ID Amendment Determination 2024 and the accompanying reasons paper is available on the Commission’s website: https://comcom.govt.nz/regulated-industries/electricity-lines/projects/amendments-to-transpower-information-disclosure-requirements-2024.
The replacement materials are available for inspection free of charge, or for purchase, during the hours of 8.30am to 5.00pm, Monday to Friday, by appointment, at the Commerce Commission, Level 9, 44 The Terrace, Wellington. The replacement materials may also be downloaded from the XRB publication website, www.xrb.govt.nz.
Dated this 13th day of November 2024.
COMMERCE COMMISSION.