The following stock market announcement was released by Chorus this morning in relation to the Commerce Commission's announcement advising that it intends to further extend the timetable on the final pricing principle (FPP) review of the UBA and UCLL prices.

Media Release Announcement

Update on Commission FPP timetable and backdating

The Commerce Commission has today advised that it intends to further extend the timetable on the final pricing principle (FPP) review of the UBA and UCLL prices, with final determinations now due by September 2015.  Submissions on the current draft determinations are now due on 20 February.

The Commission has also provided its emerging view on backdating, which is that prices should be backdated to 1 December 2014, but not earlier.

“We are very frustrated that the process has been further delayed, particularly as this is the third significant timetabling delay since the process started in February 2013” said Mark Ratcliffe, Chorus CEO.  “It creates further uncertainty for Chorus, its investment programme and the industry.  We think the Commission should strive to complete the FPP processes by the middle of 2015 at the latest.”

Commerce Commission media release

Who do I contact?

If you have any questions, please contact your account manager.