We have submitted our third regulatory control period proposal to the Commerce Commission, setting out our vision for the national grid between 2020 - 2025.
Chief Executive Alison Andrew says the proposal is primarily focused on sustaining and maintaining the grid with a continued focus on efficiency and cost control.
“It’s essential we have a resilient, reliable electricity grid that will set us up well for an increasingly electrified economy. While the near-term outlook is for relatively stable demand, we anticipate that it will begin to grow strongly nearer 2025. We need to ensure that our existing system is well placed to meet that demand, while delivering the best value for our customers.”
Transpower’s submission has been shaped with input and guidance from our customers and stakeholders. It has also been subject to a review by an independent third party, an ‘independent verifier’, who scrutinised our proposal as it developed, and added valuable feedback to help us refine our proposal. They provided a report that will assist the Commission to streamline and target its evaluation.
“The work we undertake in RCP3 will affect all New Zealanders, and during our public consultation period earlier in the year, we asked industry, consumers, and other interested parties to help us shape our proposal. These submissions helped us further refine our final proposal.
Since developing our RCP2 proposal in 2013, we have made substantial improvements to our approach to risk, asset and cost management as well as maturing our strategic planning capability. The gains we have made in our efficiency and innovations in technology have been incorporated in this new proposal.
The Commerce Commission will now consider Transpower’s RCP3 proposal and stakeholders will have further opportunities to submit feedback to the Commerce Commission before a final determination is made in November 2019.
For further information, please contact:
Kerri Osborne, Corporate Communications Manager, 04 590 7479 or 021 195 8613.