Energy Market

Mr MARSHALL (Dunstan—Leader of the Opposition) (14:14): Has the Premier sought advice as to the type and extent of sovereign risk that South Australian taxpayers will be exposed to if these contracts are broken?

The Hon. J.W. WEATHERILL (Cheltenham—Premier) (14:15): Absolutely, we have, and that is a very live issue. That is a very live issue, but the only reason that we are asking ourselves these extraordinary questions is because the guilty party opposite privatised our assets. Every single South Australian understands that the reason we are in this position is because of the decision—

An honourable member interjecting:

The Hon. J.W. WEATHERILL: Let's test that. Every single South Australian knows who sold our electricity assets and that's the Liberal Party of South Australia. Not content with selling those assets to private companies, they also did their very best to sever something which would have entirely changed the pattern of industrial development in South Australia in relation to our electricity industry—they killed the interconnector with New South Wales. Instead of us having a different pattern of development in relation to our electricity supply industry, which would have protected us at this time, they sought to pump up the price of the assets by severing the connection with New South Wales, which was already underway. We know there was a debate inside the Liberal Party room because we have a lot of information from inside the Liberal Party room back in those days.

Members interjecting:

The SPEAKER: Is the deputy leader making a point of order?

Ms CHAPMAN: If the Premier has not finished his answer, I will.

The SPEAKER: Has the Premier finished?

The Hon. J.W. WEATHERILL: No.

Ms CHAPMAN: Then I would ask you to rule on how the Liberal Party has anything to do with the management of sovereign risk, which is irrelevant to the question.

The SPEAKER: Before I rule on that, I call to order the members for Chaffey, Davenport, Finniss, Stuart, Hammond, the Minister for Transport and the Treasurer. I warn the leader, the deputy leader, the Treasurer and the members for Stuart and Chaffey. I suppose that, given the Liberal Party has been in opposition for just over 15 years, it is hard to ascribe a sovereign risk.

Mr Gardner: Just under, sir.

The SPEAKER: Just under, thank you.

The Hon. J.W. WEATHERILL: I think that's fair, sir. We need to compare the risks associated with the renationalisation of the electricity assets against some of the other risks. We have heard some interesting ideas that have been promulgated recently, such as the idea that the Leader of the Opposition came up with of reopening a coal-fired power station. Let's leave aside the fact that it is half dismantled. How is a private sector operator who owns a coalmine and a partly dismantled coal-fired power station somehow going to be encouraged to reopen that? Let's put that against that risk. Let's set aside sovereign risk against that risk. Let's also—

Mr Marshall: What about the question?

The Hon. J.W. WEATHERILL: I am answering your question. Let's set aside sovereign risk against the risk of a ban on gas in South Australia, while the Leader of the Opposition agrees with us that somehow gas is part of our energy future. Let's set aside the question of sovereign risk against the idea of a new nuclear power plant in South Australia from the same Leader of the Opposition who says we can't look at nuclear waste, but somehow we can look at nuclear power. Let's compare the sovereign risk of those matters.

Let's compare the sovereign risk of cutting a renewable energy target, which has almost already been achieved, when you have existing renewable energy projects already being planned and operated in South Australia. If you want to talk about sovereign risk, let's look at those opposite and the sovereign risk that their energy policy and its chaos—

The SPEAKER: Point of order, member for Stuart.

Mr VAN HOLST PELLEKAAN: The Premier is debating the substance of the question, rather than answering it.

The SPEAKER: He is talking about sovereign risk. Has the Premier finished?

The Hon. J.W. WEATHERILL: Yes.

The SPEAKER: The Premier has finished. Leader.