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Legislative Assembly for the ACT: 2000 Week 3 Hansard (9 March) . . Page.. 755 ..

Mr Corbell: You do not know, do you, really? You really have no idea.

MR HUMPHRIES: No, I am saying to you that nobody knows yet. You do not know either, Mr Corbell. AGL does not know.

MR SPEAKER: Order, please! The Treasurer is answering the question without interjections. I am sure nobody wishes to be removed from this chamber today, with such an important debate coming up. Mr Stanhope, did you hear what I said?

Mr Stanhope: I certainly did, Mr Speaker. I was all ears.

MR SPEAKER: Well, just reflect on it.

MR HUMPHRIES: Mr Speaker, the Independent Pricing and Regulatory Commissioner's draft decision on AGL's proposed terms and conditions under which retailers can seek transportation of gas on AGL's distribution network in the ACT has been released today. Although it has a bearing on the way in which AGL ultimately will continue to operate in the ACT, it does not immediately present a particular problem with respect to the development of the proposed joint venture between ACTEW and AGL.

Obviously the issues that the commissioner has raised will need to be assessed by both ACTEW and AGL, and I anticipate that this would not be a matter of any difficulty as far as the two parties were concerned. I repeat that my expectation would be that there is a greater value in the assets that ACTEW proposes to bring to the table than in those being brought by AGL, and, as a result, there would be an equalisation payment by AGL to the ACT.

Mr Quinlan: A sale, they call it.

MR HUMPHRIES: No, it is not a sale. You people have been running the line today. You say it would be impossible for a future government to unscramble the egg because they would have to find the $100m again. But if you are able to find the $100m, Mr Speaker - if someone is listening - and, after all, we have to find the $100m anyway for the superannuation, then it is possible to unscramble the egg, is it not?

So if you can unscramble the egg, by definition it is not a sale, is it, Mr Quinlan? It is not a sale. I do not know why I am bothering because they are not listening, in any case, Mr Speaker. The fact of the matter is - - -

MR SPEAKER: No. I might ask you to sit down.

MR HUMPHRIES: Yes, I may as well, Mr Speaker.

Mr Berry: That would be a good idea because he does not answer his questions very well.

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