54SCommission to prepare input methodology for capital expenditure proposals

1. The Commission must determine an input methodology for Transpower's capital expenditure proposals.

2. The input methodology must include—

3. requirements that must be met by Transpower, including the scope and specificity of information required, the extent of independent verification and audit, and the extent of consultation and agreement with consumers; and
4. the criteria the Commission will use to evaluate capital expenditure proposals; and
5. time frames and processes for evaluating capital expenditure proposals, including what happens if the Commission does not comply with those time frames.

6. The input methodology must be determined no later than 1 November 2011; but the Minister may, on the written request of the Commission, extend the deadline once by a period of up to 3 months, in which case notice of the extension must be given in the Gazette.

7. Subpart 3 of Part 4 applies to the input methodology as if it were an input methodology referred to in section 52T, except as provided in subsection (2) or (3) of this section.