New Zealand Legislation: Regulations
Regulations are laws made under Acts
This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on the 28th day after the date of their notification in the Gazette, impose levies on gas industry participants for the costs of the Gas Industry Company Limited performing functions and duties, and exercising powers, under the Gas Act 1992 and the costs of collecting the levy money.
The 2009/10 levies are—
a wholesale gas levy of 1.67 cents for every gigajoule of gas purchased directly from gas producers, calculated monthly on the basis of the buyer's purchases in the previous month and payable monthly. This levy rate is decreased from 1.79 cents per gigajoule for the 2008/09 financial year:
a retail gas levy of 53.33 cents per month (which is the annual levy rate of $6.40 divided by 12) for each installation control point (ICP) to which the retailer has a contract to supply gas (as recorded on the registry under the Gas (Switching Arrangements) Rules 2008) as at the last day of the previous month, payable monthly. This levy rate is decreased from 61.83 cents per ICP per month for the 2008/09 financial year:
a one-off levy of 8.4 cents for every gigajoule of gas allocated to a gas retailer in the initial allocations under the Gas (Downstream Reconciliation) Rules 2008 for October 2008 to March 2009. This addition to the 2009/10 levy is to recover the shortfall for the 2008/09 financial year arising from the cost of implementing the Gas (Downstream Reconciliation) Rules 2008 (in total, $1,052,500). The one-off levy is payable on 20 August 2009.