Commerce Commission formally warns Vector

Fri, 23 Dec 2022

The Commerce Commission formally warned electricity and gas distribution company Vector for its regulatory treatment of sale and leaseback transactions, which took place in March 2020.However, in October 2022, Vector reversed its treatment of the transactions. The Commerce Commission said it was satisfied that the reversal steps taken by Vector met its enforcement aims.The situation arose because Vector’s approach to valuing those transactions was inconsistent with regulatory rules and had resulted in a $300 million regulatory asset base...

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