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Monday, 7 November 2011
Page: 8277


Senator XENOPHON (South Australia) (11:09): I think this is my final question on this issue, which does concern me as to whether there is an opportunity to avoid unnecessary increases to households and small businesses. The government's position—and it would be the position of the Australian Bankers Association as well, and of those that disagree with the Electricity Supply Association—is that you could have secondary markets in place to manage the risk, to hedge the risk. I think that is a fair summary. But wouldn't it be better to try and deal with the problem directly rather than relying on a secondary market? All I am asking is: will the government have an open mind in looking at issues of the risks involved that have been raised and, if necessary, to commission modelling on these issues, given the very live concerns that have been raised by two state governments, of different political persuasions; the Electricity Supply Association; and the modelling carried out by ACIL Tasman?