The Government has agreed to introduce changes to improve competition in the retail fuel market following the Commerce Commission’s report into the retail fuel market. The changes will be introduced through a Fuel Industry Bill.
Consultation has opened on funding options and levies to enable the Financial Markets Authority (FMA) to regulate the new financial advice regime and respond to cost pressures within its current remit.
More detail about the business support for affected businesses in the aftermath of the Whakaari/White Island volcanic eruption in Whakatāne has been released today by the Ministry of Business, Innovation and Employment (MBIE).
The Government has responded to the Commerce Commission’s retail fuel sector market study. The Commission studied factors that may affect competition in New Zealand’s retail fuel market, and made recommendations aimed at improving competition, and outcomes for consumers, in the fuel sector.