In 1931, the Transport Licensing Act was passed

In 1931, the Transport Licensing Act was passed, protecting the railways from competition for fifty years. The transport industry became fully deregulated in 1983.Between 1982 and 1993 the rail industry underwent a major overhaul involving corporatisation, restructuring, downsizing, line and station closures and privatisation. In 1993 the network was privatised, and until 2003 the national network was owned byTranz Rail, previously New Zealand Rail Limited. ASUS EEE PC 1201NL CPU Fan The Government agreed to take over control of the national rail network back when Toll Holdings purchased Tranz Rail in 2003. In May 2008 the Government agreed to buy Toll NZ's rail and ferry operations for $665 million,^[27] and renamed the operating company KiwiRail. Bulk freights dominate services, particularly coal, logs and wood products, milk and milk products, fertiliser, SONY Vaio VGN-NW240D/T CPU Fan containers, steel and cars. Long distance passenger services are limited to three routes – the TranzAlpine (Christchurch – Greymouth), the TranzCoastal (Christchurch – Picton) and the Northern Explorer (Wellington – Auckland). Urban rail services operate in Wellington and Auckland, and interurban services run betweenPalmerston North and Wellington (the Capital Connection) and Masterton and Wellington (the Wairarapa Connection). Compaq Presario CQ60-418DX CPU Fan For most of its history, New Zealand's rail services were operated by the Railways Department. In 1982, the Department was corporatised as the New Zealand Railways Corporation. The Corporation was split in 1990 between a limited liability operating company, New Zealand Rail Limited, and the Corporation which retained a number of assets to be disposed. New Zealand Rail was privatised in 1993, and renamed Tranz Rail in 1995. SONY Vaio VGN-NW240D CPU Fan In 2001, Tranz Rail's long-distance passenger operations, under the guise of Tranz Scenic, became a separate company; Tranz Rail chose not to bid for the contract to run Auckland's rail services, and the contract was won by Connex (now Veolia Transport Auckland). Proposals to sell Tranz Rail's Wellington passenger rail services, Tranz Metro, did not come to fruition, although the division became a separate company in July 2003. SONY VGN-BX197XP CPU Fan In 2003 Tranz Rail was purchased by Australian freight firm Toll Holdings, which renamed the company Toll NZ. The only other significant non-heritage operator is the tourist oriented Taieri Gorge Railway in Otago, which runs regular passenger trains on part of the former Otago Central Railway and some on the Main South Line. New Zealand has a long history of international and coastal shipping. Toshiba Satellite L645D-S4056 CPU Fan Both Maori and the New Zealand European settlers arrived from overseas, and during the early European settler years, coastal shipping was one of the main methods of transportation,^[28] while it was hard to move goods to or from the hinterlands, thus limiting the locations of early settlement.^[2] The two main islands are separated by Cook Strait, 24 km wide at its narrowest point, but requiring a 70-km ferry trip to cross.Toshiba AB7805HX-GB3 CPU Fan This is the only large-scale long-distance car / passenger shipping service left, with all others restricted to short ferry routes to islands like Stewart Island/Rakiura or Great Barrier Island. New Zealand has 1,609 km of navigable inland waterways; however these are no longer significant transport routes. Historically, international shipping to and from New Zealand started out with the first explorer-traders, Toshiba Satellite L500-208 CPU Fan with New Zealand waters soon becoming a favourite goal for whalers as well as merchants trading with the Maori and beginning European colonies. In the 19th century, one of the most important changes for New Zealand shipping – and for New Zealand itself – came with the introduction of refrigerated ships, which allowed New Zealand to export meat to overseas, primarily to the United Kingdom. HP 535441-001 CPU Fan This led to a booming agricultural industry which was suddenly offered a way to ship their goods to markets around the world.Larger, deeper-draught ships from the middle of the 19th century made dredges a common sight in shipping channels around New Zealand, and tugboats were also often bought to assist them to the quays, where electric or hydraulic cranes were increasingly used for on- and off-loading. Toshiba Satellite P100-444 CPU Fan However, manpower was still needed in large amounts, and waterfronts were the hotbeds of the industrial actions of the early 20th century.^[29]In the 1970s, containerisation revolutionised shipping, eventually coming to New Zealand as well. The local harbour boards wrought massive changes on those ports selected (after much political wrangling) to handle the new giant vessels, such as Lyttelton and Auckland Port. HP Pavilion dv7-3114eo CPU Fan Gantry cranes, straddle carriers and powerful tugboats were built or purchased, and shipping channels dredged deeper, while large areas of land were reclaimed to enable the new container terminals. The changes have been described as having been more radical than the changeover from sail to steam a century before.^[30] However, containerisation made many of the smaller ports suffer, this being only later recovered somewhat with newer, HP Mini 110-1125SA CPU Fan smaller multi-purpose ships that could travel to smaller ports, and the loosening of the trade links with the United Kingdom, which diversified the trade routes. The time for river ports had gone however, and most of them disappeared, facing particular pressure from the new rail ferries,^[29][30] In the 1980s, deregulation also involved and heavily changed the port industry, HP KSB06105HA CPU Fan with harbour boards abolished, and replaced by more commercially-focussed companies. Many port jobs were lost, though shipping costs fell. As noted above, coastal shipping has long played a significant role in New Zealand. It was very efficient for moving large amounts of goods, Compaq Presario CQ60-210eo CPU Fan and relatively quick. In 1910, it was noted in a discussion with the Minister of Railways that a fruit grower at Port Albert (near Wellsford, less than 150 km from Auckland) had found it cheaper to ship his canned fruit to Lyttleton in the South Island by boat, and thence back to Auckland again, rather than pay rail freight rates from nearby Wellsford to Auckland.^[31] HP Pavilion dv7-2250sf CPU Fan The industry however also faced a number of troubled times as well, such as during World War II when ship requisitioning caused shortages in the transport operation.^[32] While many ports reopened after the war, they (and coastal shipping in general) faced huge pressure from rail^[29] (presumably now offering improved freight rates compared to the 1910 era). HP 434678-001 CPU Fan After cabotage was abolished in 1994, international shipping lines became able to undertake coastal shipping as opportune to them on their international routes to New Zealand. While reducing the cargo reshipment rates for New Zealand industry, this is seen by some as a heavy blow for local competitors, who, specialised in coastal shipping only, HP G60-230us CPU Fan are less able to achieve the costs savings of large lines – these can generally operate profitably even without cargo on New Zealand-internal legs of their routes, and are thus able to underbid others. The law change has been accused of having turned the New Zealand business into a 'sunset industry' which will eventually die out.^[33] In the financial year 2003 / 2004 coastal cargo in New Zealand totalled around 8.6 million tonnes, of which 85% was still carried by local, and 15% by overseas shipping.^[34] HP Pavilion dv6365us CPU Fan In 2009, the National Party announced that funding for coastal shipping and supporting infrastructure, part of the "Sea Change" plan of the previous Labour government, would be cut to a substantial degree. The move was heavily criticised, amongst others, by the Green Party,^[35] and the Maritime Union of New Zealand. Regular roll-on roll-off ferry services link the North and South Islands between Wellington and Picton, HP 535439-001 CPU Fan since 1962.^[18]Interisland Line, a division of KiwiRail, owns the main inter-island ferry service, the Interislander. Two of the three ferries used by the Interislander, Arahura and Aratere, are rail ferries with special rail decks. The largest and newest ferry, Kaitaki came into service in September 2005. A competitor service is operated by Strait Shipping Ltd, using the former French Santa Regina and the former Danish Straitsman, under the Bluebridge brand. COMPAQ 6910c CPU Fan Depending on the vessel, usual transit time between the North and South Islands is between three hours and three hours twenty minutes. Faster catamaran ferries were used by Tranz Rail and its competitors. To reduce voyage times, Tranz Rail proposed to relocate the South Island terminal of its services to Clifford Bay in Marlborough, which would also avoid a steep section of railway. IBM Lenovo IdeaPad G510 CPU Fan This proposal has been shelved since the takeover by Toll Holdings in 2003. Smaller ferries operate in the Bay of Islands, Rawene (Northland), Auckland, Tauranga, Wellington, the Marlborough Sounds andLyttelton (Christchurch), and between Bluff and Halfmoon Bay (Stewart Island/Rakiura). Passenger ferry service also operated for many years between Wellington and Lyttleton (the port closest to Christchurch). HP G62-110SO CPU Fan This service was operated by the Union Steam Ship Company, and the passenger ferries typically operated an overnight service, although in later years the last of these vessels, the Rangatira, operated alternate nights in each direction plus a daylight sailing between Lyttleton up to Wellington on Saturdays (so as to get a balance of four sailings in each direction, each week). DELL Precision M6400 CPU Fan One of these passenger ferries, the Wahine, was lost in a storm as it entered Wellington Harbour on 10 April 1968, with the loss of 51 passengers and crew. The final sailing of the Rangatira, which was custom built and entered service in 1972, was on 15 September 1976, after two money losing years (subsidised by the NZ government). The economy of Oceania comprises more than 14 separate countries and their associated economies. SONY Vaio VPC-EB290X CPU Fan On a total scale the region has approximately 34,700,201^[1] inhabitants who are spread among 30,000 islands^] in the South Pacific bordered between Asia and the Americas. This region has a diverse mix of economies from the highly developed and globally competitive financial market of Australia to the much less developed economies that belong to many of its island neighbours. HP Envy 17-1090eo CPU Fan New Zealand is the only other 1st world nation in the region, although the economy of Australia is by far the largest and most dominant economy in the region and one of the largest in the world. The smallest Pacific nations rely on trade with Australia, New Zealand and the United States for exporting goods and for accessing other products. Toshiba Satellite A210-1CF CPU Fan Australia and New Zealand's trading arrangements are known as Closer Economic Relations. Australia and New Zealand, along with other countries, are members of Asia-Pacific Economic Cooperation (APEC) and the East Asia Summit (EAS), which may become trade blocs in the future particularly EAS. The overwhelming majority of people living in the Pacific islands work in the service industry which includes tourism, education and financial services. Dell Vostro 3450 CPU Fan Oceania's largest export markets include Japan, China, the United States and South Korea. The majority of people living in Australia and to a lesser extent, New Zealand work in mining, electrical and manufacturing sectors also. Tourism has become a large source of income for many in the Pacific; tourists come from Australia, New Zealand, Japan, the United Kingdom and the USA. Toshiba Satellite A10-103 CPU Fan Fijicurrently draws almost half a million tourists each year; more than a quarter from Australia. This contributes $1 billion or more since 1995 to Fiji's economy but the Government of Fiji islands underestimate these figures due to invisible economy inside tourism industry. Agriculture and natural resources constitutes only 5% to 10% of Oceania's total jobs, but contributes substantially to export performance. Compaq Presario A900 CTO CPU Fan The most populous two nations, Australia and New Zealand, are also the most developed and have majority service industries. This dilutes the data from the less developed Pacific Island nations who have major agricultural economies. Most of the Pacific countries (excluding Australia and New Zealand) the primary industry is agriculture. Many nations are still quintessentially agricultural; ACER Aspire 4736ZG CPU Fan for example, 80% of the population of Vanuatu and 70% of the population of Fiji works in agriculture. The main produce from the pacific is copra or coconut, but timber, beef, palm oil, cocoa, sugar and ginger are also commonly grown across the tropics of thePacific. Fishing provides a major industry for many of the smaller nations in the Pacific, although many fishing areas are exploited by other larger countries, namely Japan. Toshiba Satellite A10-103 CPU Fan Natural Resources, such as lead, zinc, nickel and gold, are mined in Australia and the Solomon Islands. Oceania's largest export markets include Japan, China, the United States, India, South Korea and the European Union. \Oceania's most populous nations, Australia and New Zealand, are both highly developed nations and are large international aid donors. SONY MCF-519PAM05 CPU Fan These two wealthy nations share the region with less developed nations which still rely on foreign aid for development. In the 2007/08 financial year Australia provided $3.155 billion worth of official development assistance, of which $2.731 billion will be managed by AusAID. Every week, each Australian puts in around $2.40 to pay for Australia's aid program, SONY Vaio VPC-EB290X CPU Fan amounting to around 1% of the Australian Federal Government expenditure compared to the 42% spent on social security and welfare.New Zealand's electricity market is regulated by the Electricity Industry Participation Code administered by the Electricity Authority (NZ). The Authority was established in November 2010 to replace the Electricity Commission (NZ). HP Pavilion dv7-2043cl CPU Fan Until 1987, New Zealand had a centrally run system of providers of generation, transmission, distribution, and retailing. Since then, a step-by-step process of industry reform has led to the separation of the monopoly elements from the contestable elements to create competitive markets in energy generation and electricity retailing, while imposing regulation on the natural monopolies of transmission and distribution.^[1] HP Pavilion dv7-2130ev CPU Fan Currently the market is split into the following areas: regulation, generation, administration and market clearing, transmission, distribution, metering and retailing.The wholesale market for electricity operates under the Electricity Industry Participation Code,^[2] and is overseen by the market regulator, the Electricity Authority. Trade takes place at more than 200 pricing nodes across New Zealand.^[3] HP 608772-001 CPU Fan Generators can make offers to supply electricity at grid injection points, while retailers and some major industrial users make bids to withdraw "offtake" electricity at grid exit points. The market uses a locational marginal pricing auction which takes generators’ offers and retailers’ bids, and computes final prices and quantities at each node. The auction is held every half hour.Toshiba Satellite A100-194 CPU Fan The Authority contracts out the services required to run the electricity market. The Reconciliation Manager, who reconciles all metered quantities, Pricing Manager, who determines the final prices at each node, and Clearing and Settlement Manager, who pays generators for their generation at the market clearing price and invoices all retailers for their offtake, HP Pavilion tx1205/ CT CPU Fan are all contracted to New Zealand Exchange (the NZX), who acquired the previous service provider M-Co in June 2009.The owner of the national transmission grid is Transpower, a state-owned enterprise. Transpower is also the System Operator, responsible for ensuring real time electricity supply security and quality. HP Pavilion dv6640ep CPU Fan Transpower is the market scheduler, predicting likely demand to help generators make bids, and the dispatcher, in charge of matching demand and supply in real time.^[4] Distribution of electricity from the grid exit points to the end consumers' premises is the responsibility of 28 distributors who have monopoly control of the lines services on their networks. Ownership of distributors, COMPAQ Presario CQ42-401TU CPU Fan also known as lines companies, is through trust-owned companies and public companies. Some major industrial users are directly connected to the grid, such as New Zealand Steel and the Tiwai Point Aluminium Smelter. As of October 2011, there are five major generators in New Zealand: Meridian Energy, Genesis Power, Mighty River Power, Contact Energy, and TrustPower. These five together produce about 95% of New Zealand's electricity. Toshiba Satellite A300D CPU Fan The first two are state-owned enterprises; the others publicly traded companies. An important feature of the New Zealand market is that all the major generators also own retailing arms. The companies are thus commonly known as "gentailers". Retailers purchase electricity from the wholesale market, and on-sell it to consumers. Retailers currently active are: HP Pavilion dv8397ea CPU  Fan Bay of Plenty Electricity, Bosco Connect, Contact Energy, Energy Direct, Empower,Energy Online, Genesis Energy, Just Energy, King Country Energy, Mercury Energy, Meridian Energy, Nova Energy, Powershop,Simply Energy, Pulse Energy, Tiny Mighty Power and TrustPower.^[5] Most of the retailers are linked to generating companies or have common ownership. HP Pavilion dv9821ea CPU Fan For example Empower is backed by Contact Energy, Powershop is owned by Meridian Energy, Bosco Connect is a brand owned by Mighty River Power, Energy Online is owned by Genesis Energy, Mercury Energy is owned by the generator Mighty River Power, and Nova Energy and Bay of Plenty Energy have common ownership.^[6] Not all retailers supply to all locations, for instance Bosco Connect only supplies to Auckland inner-city apartments. HP COMPAQ TC4200 CPU Fan Competition for retail customers varies across the country but since 1999, when full retail competition was introduced, customers have switched at a rate between 9% and 14% per annum. Electricity is traded at a wholesale level in a spot market. The market operation is managed by several service providers under agreements with the Electricity Authority (NZ).^[8] SONY Vaio VGN-NW228F CPU Fan The physical operation of the market is managed by Transpower in its role as System Operator. Generators submit offers (bids) through a Wholesale Information and Trading System (WITS). Each offer covers a future half-hour period (called a trading period) and is an offer to generate a specified quantity at that time in return for a nominated price. HP G62-b16ST CPU Fan The System Operator (Transpower) uses a scheduling, pricing and dispatch (SPD) system to rank offers, submitted through WITS, in order of price, and selects the lowest-cost combination of offers (bids) to satisfy demand.The market pricing principle is known as bid-based security-constrained economic dispatch with nodal prices.The highest-priced bid offered by a generator required to meet demand for a given half-hour sets the spot price for that trading period. HP 580696-001 CPU Fan Electricity spot prices can vary significantly across trading periods, reflecting factors such as changing demand (e.g. lower prices in summer when demand is subdued) and supply (e.g. higher prices when hydro lakes and inflows are below average). Spot prices can also vary significantly across locations, reflecting electrical losses and constraints on the transmission system (e.g. higher prices in locations further from generating stations). HP Pavilion dv6-3049tx CPU Fan Trades take place at approximately 285 nodes (grid injection points and grid exit points) across New Zealand every half-hour. Generators make offers to supply electricity at 59 grid injection points (GIPs) at power stations, while retailers and major users make bids to buy electricity at 226 grid exit points (GXPs) on the national grid. Final prices at each node, taking account of grid losses and constraints, are processed and confirmed the following day.^[9] HP G42-380LA CPU Fan All electricity generated is required to be traded through the central pool, with the exception of small generating stations of less than 10MW.^[10] Bilateral and other hedge arrangements are possible, but function as separate financial contracts. Trading develops by bids (purchaser/demand) and offers (generator/supply) for 48 half hour periods for each pricing nodes on the national grid. Toshiba Qosmio G30-167 CPU Fan Bids and offers start 36 hours before the actual real-time consumption or ‘trading period’. Up to 4 hours (pre-dispatch) before the ‘trading period’ starts a new ‘forecast price’ is calculated to guide participants in the market. From four hours to the start of the trading period every half hour a ‘dispatch price’ is calculated and communicated. HP Pavilion dv7-1157cl CPU Fan Two hours before the start of the ‘trading period’ bids and offers can no longer be revised (with some exceptions) and the new prices reflect Transpower's adjustments in load forecasts and system availability. During each half hour period Transpower publishes a new real-time price every five minutes, and a time-weighted 30-minute average price. Compaq Presario CQ40-408AX CPU Fan The real-time prices are used by some large direct-connect consumers to adapt their demand. The above prices are however guidelines only as the ‘final prices’ are calculated ex-post (normally noon the following day, unless there are irregularities or disputes) using the offer prices as established two hours before the ‘trading period’ and volumes as established during the ‘trading period’. HP Mini 110-1110ET CPU Fan Differences between forecast, dispatch, real-time and final prices can be significant. Regulation of the electricity market started in a light-handed fashion but there has been an increasing trend towards more heavy-handed regulation. Light-handed regulation is based on the threat of regulation providing an incentive on companies with market power to exercise self-regulation. HP Pavilion dv7-1157cl CPU Fan The normal regulatory legislation such as the Companies Act, Electricity Act, Resource Management Act 1991, Commerce Act 1986, and Fair Trading Act 1986 provide the framework for regulating normal commercial and environmental transactions. The government has increased the extent of intervention through the Electricity Industry Reform Act 1998, HP Pavilion dv6-3163eo CPU Fan which forced power companies to divest either their energy or their lines business, and the Electricity Amendment Act 2001. The latter led to another round of industry reform concentrating on achieving bettergovernance of the electricity market and tighter control of monopoly functions. The "threat of regulation" was extended to the production of a set of regulations that would be brought into effect if the industry's self-regulation did not meet the Government's criteria. HP Pavilion dv9740us CPU Fan On 16 May 2003 the result of a referendum by industry participants and customer representatives on a proposed set of self-regulating rules was announced:Consumers voted 4.4% for the proposal Traders voted 66.2% for the proposal (traders = generating companies and retailers) Transporters voted 47.4% for the proposal (transporters = distributors and Transpower) HP COMPAQ NX9420 CPU Fan As there was not a substantial majority of all classes in favour of the proposal it was not implemented. The result put paid to the prospect of a multilateral agreement on the governance and operational arrangements for the electricity market. The New Zealand government invoked the regulations already prepared to meet this contingency. The "threat of regulation" had been insufficient to stave off regulation. HP Pavilion dv7-4150ec CPU Fan On 2 July 2003 a draft set of Electricity Governance Regulations and Rules was issued on behalf of the Minister of Energy by the Electricity Commission Establishment Unit (ECEU). This set was for consultation purposes and after submissions were received and reviewed, a set of regulations and rules was recommended to the Governor-General. HP Pavilion dv5-1102tu CPU Fan In September 2003 a revised set of draft rules and regulations was issued by the ECEU for submissions by the end of October. The set did not include proposed transmission regulations, which were still being drafted. Also in September the Minister of Energy announced the chair and members of the Electricity Commission. SONY VGN-SZ220 CPU Fan Roy Hemmingway, whose most recent position was chairperson of the Oregon Public Utility Commission in the USA, took on the role as chairperson of the Commission.The final set of Electricity Governance Regulations and Rules (excluding rules for transmission) became effective on 1 March 2004. The final chapter of the Electricity Governance Rules, on transmission, was gazetted on 28 April to become effective on 28 May 2004. HP Pavilion dv7-6011tx CPU Fan A Ministerial Review of Electricity Market Performance was initiated on 1 April 2009 and led by an independent Electricity Technical Advisory Group, appointed by the Minister for Energy and Resources, with assistance from officials from the Ministry of Economic Development.^[11] There were 29 recommendations arising from the review. ^[12] HP Pavilion dv5-1040eb CPU Fan One of the key recommendations approved by Cabinet was the transfer of ownership and operation of some power stations between Genesis Energy and Meridian Energyin order to increase retailer competition in both islands and to give Genesis a South Island generating base. It was decided that Genesis would receive the Tekapo A and Tekapo B hydroelectric power stations from Meridian, ASUS F3Jv CPU Fan and Meridian would receive the Whirinaki Power Station from the government (although Meridian eventually declined to accept). The transfer of Tekapo A and B was completed on 1 June 2011. ^[13] On 1 November 2010, the Electricity Authority commenced operations, taking over from the Electricity Commission.^[14] IBM ThinkPad R50p 2887 CPU Fan In April 2013, the Labour Party and the Green Party said if they were to win the 2014 election, they would introduce a single buyer for electricity, in order to cut retail costs.^[15] The Government responded by calling it "economic vandalism", comparing it to the Soviet Union,^[16] but Greens co-leader Russel Norman said it would boost the economy and create jobs.^[17] SONY VGN-CS36GJ/R CPU Fan By the following day, shares in privately owned power company Contact Energy had fallen by more than 10 percent. Toshiba Satellite A215-S4807 CPU Fan,Toshiba Satellite Pro M10-SP405 CPU Fan,HP Pavilion dv4-1120us CPU Fan