What powers, if any, will the Minister draw on to ensure that the gentailers do not pass on the costs of the Liquefied Natural Gas import terminal to consumers?

Answer

I note that decisions on retail electricity pricing are generally commercial matters for electricity retailers. The Government is working with gentailers on a fair funding model for the LNG import facility and expects the benefits of reduced dry year risk to outweigh the costs of the facility. The Government's position remains that the electricity sector should be responsible for meeting the costs of the dry year cover it requires, rather than taxpayers. Further to this, I am advised that forward wholesale electricity prices has reduced significantly since the Government announced its intention to proceed with an LNG importation facility in February 2026.