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Monday, 7 November 2011
Page: 8281


Senator WONG (South AustraliaMinister for Finance and Deregulation) (11:25): I think it is important to clarify that there are two types of loans. The first is loans to emissions intensive generators who are otherwise unable to procure finance on reasonable terms to buy future vintage carbon auctions. This is to address working capital constraints. I am advised that auctions will not be engaged in until the 2013-14 financial year and obviously the details of those terms will be the subject of further consultation between Treasury and the sector. There is a second capacity to provide loans in the event that this is required to safeguard energy security. That is amongst the assistance that the Energy Security Council is able to advise the Treasurer about. Obviously the priority there is energy security.