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The Auckland Energy Consumer Trust has been advised by Vector Limited that the Commerce Commission is to initiate a post breach inquiry following breaches to the threshold regime in the 2003-04 year.
“The Trust acknowledges that this was a risk given the regulatory environment but notes that the breaches were small and involved matters beyond Vector’s control,” Trust Chairman Warren Kyd said.
“Vector is pursuing an administrative settlement with the Commission around the four year price rebalancing programme it began two years ago.
“The Trust supports that course of action and is satisfied that Vector is acting responsibly and appropriately in this matter,” Mr Kyd said.
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