Commerce Commission takes control of Transpower

The Commerce Commission has announced plans to take control of the national electricity grid.

It has published its intention to declare control of the electricity transmission services supplied by Transpower New Zealand Ltd.

The commission says the move follows an inquiry into Transpower, after the company breached regulator thresholds set under the Commerce Act.

It says the imposition of control will result in long-term benefits for consumers.

Submissions on the move will be open to the public until February 15.

- NEWSTALK ZB