ECNZ would be restructured by being split into three SOEs. ECNZ Split Work to prepare for the split and establishment of the new SOEs will be undertaken this year. A final decision on whether to proceed with the restructuring will follow. Actual restructuring could take place in the first part of 1999. None of the three new SOEs or Contact Energy would be privatised.
Power companies have one year to decide whether to run line businesses or energy retailers.
They then have 5 years to sell the part of the business they are not retaining. Within 12 months, low-cost arrangements that enables smaller consumers to change.