Electricity Industry Privatisation

Mr GREG PIPER: My question is addressed to the Premier. Under the Government's proposed power privatisation, will contracts for sale or lease require purchasers or lessees to achieve renewable energy targets?

Mr MORRIS IEMMA: I inform the member for Lake Macquarie that the change will not change the New South Wales Government's greenhouse goals, and the national target will continue to apply.

Mr George Souris: Will you read out the agreement?

Mr MORRIS IEMMA: Yes, I will. We announced the New South Wales target, which was enhanced by the Rudd Government, and we support those targets. The policy has had no impact on privatisation and will continue to apply. The national target will cover all electricity companies, including those that acquire leases over assets. We have made that position clear. I confirmed that and I also confirm that a national renewable energy target is the most appropriate way to drive increased investment in renewable energy sources. Professor Owen has made the point that investment in renewable sources of energy is important. Renewable energy resources make an important contribution to securing future electricity and energy supplies for the State. But renewable sources of energy alone will not be sufficient, hence the need for additional baseload investment. I thank the member for Lake Macquarie for his question.