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- Release Date: 16/11/12 10:38
- Summary: GENERAL: VCT: Vector disappointed but more decisions pending
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VCT
16/11/2012 08:38
GENERAL
REL: 0838 HRS Vector Limited
GENERAL: VCT: Vector disappointed but more decisions pending
Vector, New Zealand's largest owner of electricity and gas infrastructure
assets, today expressed disappointment with the Supreme Court decision
against Vector's judicial review legal action.
Vector Chief Executive, Simon Mackenzie said Vector's judicial review action
focused on processes and rules for setting starting prices and that the
Commerce Commission had not included these in final input methodologies.
He said the decision was disappointing, however the judgement clarified that
these issues could be considered by the High Court if they were included in
the merits review hearings.
Mr Mackenzie said other elements of the regulatory regime were being
challenged by Vector and six other parties in separate Merits Appeal actions,
on which decisions are expected early next year.
"In the meantime we are continuing to provide efficient and reliable services
to customers," he said.
The High Court originally ruled in favour of Vector's judicial review action
on 27 September 2011. This was overturned by the Court of Appeal on 1 June
2012, with Vector appealing to the Supreme Court.
ENDS
End CA:00229821 For:VCT Type:GENERAL Time:2012-11-16 08:38:09
