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Today the Commerce Commission announced and released their first paper for ‘fibre price-quality' incl an information disclosure regulation that aims to regulate telecommunication companies that provide these services to consumers.
The new forms of regulation will be set from January 1st 2022, which Chorus, Enable Networks, Northpower and UltraFast Fibre will be included under Part 6 of the Telecommunications Act 2001.
“The purpose of this paper is to set out our early thinking on how we approach the major aspects the new regulations will cover. This includes the type of information providers should publicly disclose and how we would set the amount of revenue Chorus can recover and the quality standards it must meet,” says Telecommunications Commissioner Tristan Gilbertson.
The paper will be detailing ‘high-level' approaches and processes to finding out what exactly are the disclosures of price-quality regulations that the companies will be accountable too.
The detail of the proposed approach has not been set yet and still requires submissioning until October 14 2020.
“We recognise that this form of regulation is familiar to New Zealand’s gas pipeline and electricity lines companies but is new for telecommunications services,” Mr Gilbertson says.
“We want to hear as many views as we can, particularly from the wider telecommunications sector and consumer groups, to help shape our approach and processes from the beginning and inform how this regime will evolve over time.”
The regulation means telecommunication companies will have to include important data on pricing, current and future expenditure, quality performance, and financial statements to help interested parties understand how fibre providers are performing individually and when compared to others.
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