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Monday, 7 November 2011
Page: 8279


Senator BIRMINGHAM (South Australia) (11:18): Minister, I am not convinced that it is. I note that we have got to the point now where you have confirmed that those who informed the Treasury modelling say that there was no belief there would be a reduction in contracting, but the electricity generators obviously believe that there will be a reduction in forward contracting. The generators believe that, if there is a reduction in forward contracting, it will have a flow-through effect on electricity prices and of course on prices for consumers. Does the government at least accept the principle that if you have it wrong, if there is a reduction in forward contracting of electricity, the way in which the electricity market works and the way the Energy Supply Association of Australia argue that it works there would be an additional impact on electricity prices above that which has been forecast?