Pacific Power Financial Risk Management



About this Item
SpeakersPhillips Mr Ronald; Debus Mr Bob
BusinessQuestions Without Notice

PACIFIC POWER FINANCIAL RISK MANAGEMENT

Mr PHILLIPS: My question without notice is addressed to the Minister for Energy. Does Pacific Power claim that a disputed contract with Powercor, with a potential loss of $625 million, was entered into by an unauthorised trader? As Minister responsible, what action has he taken to monitor the risk management procedures and risk exposure of State-owned power utilities? You are the Minister responsible and should not play it off. You have unlimited liability.

Mr SPEAKER: Order! I call the Deputy Leader of the Opposition to order.

Mr DEBUS: The Deputy Leader of the Opposition has raised a question about what is a relatively run-of-the-mill commercial dispute between two participants in the national energy market. Given that circumstance, particularly because legal proceedings have commenced, I do not propose to comment any further.

Mr SPEAKER: Order! I call the Deputy Leader of the Opposition to order for the second time.