Auckland lines company Vector has today lost its Supreme Court appeal against the Commerce Commission’s price setting case.
In June, the Court of Appeal overturned a decision from an earlier High Court ruling in favour of Vector.
Vector ceo Simon Mackenzie had called for a judicial review of the way the commission regulates price setting for monopoly utility providers such as Vector.
“Vector’s judicial review argument focused on the process and rules for setting the starting prices and the fact that these were not included in the final input methodologies, which makes investment decisions extremely difficult,” Mr Mackenzie said in June.
The Supreme Court dismissed Vector’s appeal and has ordered the monopoly to pay $40,000 costs to the Commerce Commission.
Commission spokeswoman Allanah Kalafatelis told NBR ONLINE the commission would spend some time working its way through the judgment.
Vector shares (NZX: VCT) have dropped 0.74% today to $2.70, after starting the year at $2.47.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- PayPal ‘on shaky ground’ as it pulls service from second Netflix unblocker popular with Kiwis
- Housing NZ directors get 63% pay hike
- UPDATED: Financial records reveal Taxpayers' Union’s 2014 spending spree
- New Hampshire primaries: Trump, Sanders win by wide margins
- New dairy trading platform signs on Westland Milk
Most listened to
- Green party co-leader James Shaw and Business NZ's John Carnegie go head-to-head on the ETS review
- Cream Trading CEO Kevin O'Sullivan on why dairy companies might want to sign up to the new trading platform
- Paul Brislen on the merits of "cutting off the money" versus Netflix' technical attempts to shut-out unblockers
- Westpac's Dominick Stephens says dairy prices are still a major concern, despite El Niño fears fading
- London School of Economics Professor John Kay discusses financial regulatory shortcomings