UPDATE: Z, BP, Waitomo challenge ComCom claims on excess returns

Mon, 16 Sep 2019

(Adds comment from BP, Mobil, Waitomo throughout.) By Gavin Evans Sept. 16 – Z Energy, BP and Waitomo Group have challenged the Commerce Commission’s claims that a lack of competition in the fuel sector is delivering participants excess returns. Z Energy, the country’s biggest fuel retailer, says it has discovered a number of inaccuracies in the commission’s draft findings on profitability, including a misrepresentation of Z’s 2016-2018 rate of return as about 22 percent, about double Z’s independently reviewed calculations of about 1...

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