The regulator said revenue limits needed to increase to meet rising demand for electricity in the transition to a low-carbon economy.
The investment in the capability of the network is likely to total tens of billions over the next decade.
More EVs on our roads and high demand from industrial processed heat as it transitions from fossil fuels will be factored into planning.
Commissioner Vhari McWha said the regulator would keep an eye on any large-scale investment by lines businesses required to upgrade services.
It was conscious of potential price shocks for consumers.
"What we're preparing to do is to reset those revenue limits from 2025," McWha said.
"Decisions made by lines companies in the coming period will have an enduring impact on future electricity bills, so it is critical that proposed investment is prudent, efficient, and to the long-term benefit of consumers.
"This includes making best use of existing capacity and fully exploring options such as demand side management and batteries.
"At the same time, they will need to prepare for an expected increase in extreme weather events and keep up with regular upgrades of ageing assets."
The Commissioner said the general need for substantial investment by lines companies was clear.
"Networks will need to grow and adapt to meet new demands from the increasing electrification of transport and industrial process heat as well as connecting new local generation.
"At the same time, they will need to prepare for an expected increase in extreme weather events and keep up with regular upgrades of ageing assets."
Consumers and lines companies were expected to take part in the consultation process, with feedback closing on December 15.
The current default price-quality path (DPP) expires on March 31, 2025, and the Commission must reset the price-quality path by November 30, 2024 to apply from April 1, 2025.
