The Commission is also part way through its review of the effectiveness of the information disclosure regime that applies to the three major airports (Auckland, Wellington, and Christchurch). Information disclosure is one of the more light-handed regulatory tools available under Part 4.
Wellington International Airport is the first airport to receive a draft report. The Commission's draft report concluded that information disclosure is effectively promoting the Part 4 purpose in the areas of innovation, quality, and pricing efficiency. However, the draft report also noted that information disclosure has been ineffective in preventing Wellington International Airport from earning returns in excess of those the Commission would expect in a workably competitive market. Submissions on the draft report are due by 30 November 2012, with a final report to the Minister of Transport expected in mid to late December.
The other airports should receive draft reports from the Commission within the next few months.
The Commission's review does not extend to recommending any alternative form of regulation and there are no follow-on steps specified in Part 4. It will instead be considered by the Government.