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
