28 Sep 2011

Power price ruling in favour of Vector

5:59 am on 28 September 2011

Vector has won a victory of sorts against the Commerce Commission in its battle over the setting of prices for energy networks.

The High Court has ruled in favour of Vector against the commission, saying the commission failed to provide a full picture of how it calculated the prices that network firms could charge customers.

Vector chief executiveSimon Mackenzie says the ruling is important in providing the certainty needed to make long term investment decisions.

He says Vector will make submissions to the Court to determine the process from here.

The commission says it's studying the judgment, and has 20 working days to respond.

Vector took legal action over the commission's methodologies for determining how the network is valued and its interpretation of the requirements of the Commerce Act.