Exemptions sought from electricity industry rules

Friday 26th June 2009

The Commerce Commission is considering two requests for exemptions from Electricity Industry Reform Act requirements that directors of electricity retailers not serve on the boards of electricity network companies.

Joan Withers, a director of Auckland International Airport’s electricity network subsidiary, is seeking appointment to the board of state-owned generator-retailer Mighty River Power, while Mark Tume, a director of Infratil Ltd., is seeking appointment to the board of the New Plymouth-based network company, Powerco. Infratil owns 50.5% of TrustPower, a listed generator-retailer based in Tauranga.

The rules are intended to prevent conflicts of interest arising by direcors having interests on both sides of the business - the competitive retail sector and the regulated monoploy network sector.

Businesswire.co.nz

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