- Release Date: 19/12/14 09:12
- Summary: GENERAL: CNU: Update on Commission FPP timetable and backdating
- Price Sensitive: No
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CNU 19/12/2014 09:12 GENERAL PRICE SENSITIVE REL: 0912 HRS Chorus Limited (NS) GENERAL: CNU: Update on Commission FPP timetable and backdating The Commerce Commission has today advised that it intends to further extend the timetable on the final pricing principle (FPP) review of the UBA and UCLL prices, with final determinations now due by September 2015. Submissions on the current draft determinations are now due on 20 February. The Commission has also provided its emerging view on backdating, which is that prices should be backdated to 1 December 2014, but not earlier. "We are very frustrated that the process has been further delayed, particularly as this is the third significant timetabling delay since the process started in February 2013" said Mark Ratcliffe, Chorus CEO. "It creates further uncertainty for Chorus, its investment programme and the industry. We think the Commission should strive to complete the FPP processes by the middle of 2015 at the latest." The Commission's media release is attached. ENDS For further information: Ian Bonnar GM Corporate Relations Phone: +64 9 358 6061 Mobile: +64 (27) 215 7564 Email: [email protected] Brett Jackson Investor Relations Manager Phone: +64 4 896 4039 Mobile: +64 (27) 488 7808 Email: [email protected] End CA:00259152 For:CNU Type:GENERAL Time:2014-12-19 09:12:27
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- Ann: GENERAL: CNU: Update on Commission FPP timetable and backdating
Ann: GENERAL: CNU: Update on Commission FPP timetable and backdating
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