Chorus hosted an investor update in Auckland on 7 October. A video of the session will be available soon.
Investor Update - 7 October 2014
Introduction - Mark Ratcliffe
Regulatory update - Anna Moodie
Further Analysis - Andrew Carroll
Summary and Q&A - Mark Ratcliffe
Chorus submission on regulated UBA and Boost proposals - 19 September 2014
Chorus yesterday sent the Commerce Commission its submission in response to their consultation paper on issues relating to Chorus’ proposed changes to the UBA service. The submission included Chorus’ external legal advice, from Minter Ellison Rudd Watts and Chapman Tripp, supporting Chorus’ position on the UBA proposals.
Submission to Commerce Commission - 6 August 2014
in response to the Commerce Commission’s Consultation paper outlining its proposed view on the regulatory framework and modelling approach for UBA and UCLL services (9 July 2014)
This submission responds to the Commission’s preliminary views on the modelling choices and inputs for setting monthly and transactional TSLRIC prices for UCLL, SLU and UBA (with the UCLL price flowing through to the UCLFS service).
Forsyth Barr Presentation - 26 June 2014
Presentation by Rosalie Nelson, Manager Market Strategy & Insight, at Forsyth Barr ‘Future of TV’ seminar
Chorus Investor Day - 21 May 2014
Chorus held a briefing for institutional investors and analysts in Wellington, New Zealand, on Wednesday 21 May, which was also webcast live.
Investor Day presentations:
Mark Ratcliffe, CEO
Anna Moodie, Assistant General Counsel
Martin Sharrock, Head of Network Engineering
Ed Beattie, General Manager Infrastructure
Rosalie Nelson, Market Insight & Strategy Manager
Chorus makes submission on UBA FPP process
Chorus has made a submission on the Commerce Commission’s process and issues paper as part of the final pricing principle review of the Commission’s initial decision of the price Chorus can charge for the unbundled bitstream access service.
Chorus UCLL and UCLFS submissions
Chorus has proposed a method by which the Commerce Commission’s two Final Pricing Principle (FPP) regulatory processes could both be completed by the end of 2014.
The proposal forms part of Chorus’ submissions to the Commerce Commission on the FPP review of the price Chorus can charge for the Unbundled Copper Local Loop (UCLL) service.
“It was pleasing to see the Commerce Commission aiming to complete the related FPP review of Unbundled Bitstream Access (UBA) by the end of the year,” said Chorus CEO Mark Ratcliffe.
“We acknowledge that the UCLL and UBA FPP processes have critical linkages, and the aggregate price will be the most relevant to the industry. To that end, we believe resolution of both processes by the end of the year would provide everyone with greater certainty.”
As requested by the Commission, and to support the timely resolution of the FPP processes, Chorus has proposed a process that would allow the Commission to model the full copper network in order to determine UCLL and UBA prices in parallel.
“We believe this will help the Commission meet its obligation to complete the FPP process as soon as practicable and do so in a way that takes appropriate account of all costs,” he said.
Chorus has also provided advice from Analysys Mason, world leading experts on economic cost modelling, on an appropriate approach to modelling.
“While the Commission and the industry are investing a significant amount of resource into these FPP processes, which will provide the pricing copper-based services during the transitional period through to 2020, it is worth noting that a new regulatory regime will come into existence in 2020. At this stage no-one knows what form it will take, so we also look forward to more clarity on this.”
Chorus has also made submissions on the Commission’s review of the standard terms determination price list for Chorus’ unbundled copper low frequency service (UCLFS).
Copies of the UCLL and UCLFS submissions are attached below.
Letter to Shareholders
In recent weeks the value of Chorus shares has fallen dramatically and we feel that you should hear from us directly about what has transpired and perhaps more importantly what your Board and management team is doing to preserve and restore value in Chorus.
Addressing the Myths
You may have read or heard some misinformation about Chorus in recent weeks. The following is our response to some of the myths we have been asked about:
Q & A on UBA Pricing Decision
Chorus' 2013 Annual General Meeting
Chorus submission supports Government intervention on wholesale copper prices
Chorus has today published its submission on the Government’s Discussion Document entitled “Review of the Telecommunications Act 2001” (Discussion Document).
Chorus supports the Government stepping in and updating the policy framework, as proposed in its Discussion Document. It is clear that the current framework is no longer fit for purpose.
The submission outlines why Chorus believes the current framework is broken and why the Government is right to intervene. It also explains the specific changes to the copper pricing regime that would support the transition to fibre as well as the benefits that are being delivered to end users.
The submission also includes reports from three independent ex-regulators, Dr Ross Patterson, Richard Hooper CBE, and Professor Stephen Littlechild.
FY13 Full Year Results
Presentation to South Island Investors - 2 July 2013
Presentation and build update - 16 May 2013
Chorus submission on UBA and UFB policy framework - 4 February 2013
Chorus has today made a submission to the Commerce Commission in response to the draft price of Unbundled Bitstream Access (UBA) released on 3 December 2012.
The submission calls for an update of the policy framework to ensure the success of the Government’s Ultra Fast Broadband (UFB) initiative. It also responds to the draft UBA decision and explains Chorus’ intent to apply for a final pricing principle (FPP) review for the Unbundled Copper Local Loop (UCLL) service within the existing framework.
The regulatory framework that has evolved since 2001 addressed the market and industry concerns during that time. New Zealand has seen positive results from this framework with significant broadband growth in recent years.
Chorus CEO Mark Ratcliffe says things have moved on significantly and it’s time for the industry to take the next step towards even better broadband with a framework that aligns everyone to a single outcome for the benefit of New Zealand.
“We’re seeking a clearer, more stable regulatory environment that delivers the right incentives to encourage the transition to our fibre network, and help New Zealand realise the productivity and economic benefits UFB and the Rural Broadband Initiative (RBI) can deliver,” Ratcliffe said.
Chorus has made robust submissions on the Commission’s draft UBA decision which continues to highlight the challenges of applying the current framework to the new industry structure. It also emphasises that getting the right balance between copper and fibre pricing is critical to fibre investment and uptake.
Chorus’ intention to apply for a FPP is based on ensuring a consistent approach between UBA and UCLL, and an outcome that better reflects the true measure of the cost and investment required to deliver better broadband to New Zealand than the Commission’s December draft decision suggests.
Chorus Investor Roadshow - September 2012
Submission on draft decision on UCLL pricing - June 2012
This is Chorus' submission on the Commission‟s revised draft determination on the benchmarking review for UCLL (the Commission’s proposal).
Any Commission decision on UCLL pricing will be pivotal for the industry, investors and every New Zealander. Averaged UCLL pricing underpins the regulatory framework, which means any change to it will be a key influence on the industry‟s long term investment choices. Those investment choices will in turn determine the benefits New Zealanders get from fibre. And the second order impacts of those choices will influence views on returns on future investment in New Zealand. So it is important that we get this right now.
Chorus Investor Day - 23 May 2012
View the videos and presentations from our Investor Day on 23 May 2012.
Initial assessment of Commerce Commission announcement on UCLL pricing
Initial assessment of today’s Commerce Commission announcement regarding proposed changes to UCLL pricing – Mark Ratcliffe (Chorus CEO) and Vanessa Oakley (Chorus Corporate Counsel) and a variety of questions from investors and analysts
Deutsche Bank NZ Corporate Day - March 2012
Presentation from an investor briefing session organised in conjunction with Deutsche Bank in Sydney, 6 March 2012.
Investor Presentation - September 2011
This presentation gives investors a view of what new Chorus will look like post-demerger with Telecom (1 December 2011).