Exemptions sought from electricity industry rules

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

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

TRU - Commercial Opportunities for Western Europe and Middle East
GEN - General Capital Subsidiary Credit Rating Update
Fonterra updates 2025/26 season Farmgate Milk Price
FRW - Acquisition of VT Freight Express
PaySauce Opens $1m Share Purchase Plan
December 17th Morning Report
RUA - Successful rights offer is oversubscribed
Steel & Tube - Shareholder Newsletter - December 2025
SKC - Resignation of Chief Risk Officer
December 16th Morning Report