NZ Commerce Commission News

Commerce Commission Declines Clearance for Kegstar's Konvoy Acquisition

The Commerce Commission has declined to give clearance to Kegstar New Zealand Limited to acquire the kegs, beacons, and New Zealand keg records from Konvoy New Zealand Limited. The proposed acquisition would have combined the only two providers of PPF (pay-per-fill) services in New Zealand, which the Commission found would substantially lessen competition in that market. The Commission determined that no existing competitors could constrain the merged entity, new entry is unlikely, and customer self-supply options would be insufficient to prevent an exercise of market power. The ACCC is also investigating this acquisition.

Co-operative Bank Fined $2.482M for Unreasonable Fees, Remediates 48,249 Customers $7.225M

The High Court imposed a $2.482 million penalty on Co-operative Bank for breaching the Credit Contracts and Consumer Finance Act 2003 (CCCFA) by charging customers unreasonable fees. The bank remediated 48,249 customers approximately $7.225 million for overcharging across twelve fee types including Home Loan Establishment Fees, Overdraft Facility Fees, and Personal Loan Establishment Fees, with most fees charged between June 2015 and November 2021. The investigation began after Co-operative Bank self-reported its conduct to the Commerce Commission.

Regulators Consider Non-Network Solutions Feedback From Distributors

The Commerce Commission, Electricity Authority, and Energy Efficiency and Conservation Authority (EECA) are considering feedback received from electricity distributors on how non-network solutions—including flexible electricity use, energy efficiency, distributed generation, and storage—could support growing demand at lower cost than traditional network extension. Most submitters agreed that non-network solutions can play an important role in managing system costs as New Zealand electrifies, though views differed on implementation speed and necessary safeguards. Regulators will now determine next steps to enable more non-network solutions where they support an efficient, reliable, and lower-cost network for consumers.