Woods MeganHon Dr MEGAN WOODS (Minister of Energy and Resources): I'll just take a short call to address some of the questions that the member put there. The first I guess is around the problem definition and the member asked why it was that this regime was being put into place. That's spelt out very much in the preamble to the legislation; that in 2018 there was a convergence of events around gas infrastructure that led to gas outages of the Pohukura pipeline. What this brought very starkly into relief is there simply was not an adequate disclosure regime for industry for the markets for anybody to understand the flow-on implications of what was happening. There was a situation where those that were reliant on that gas for producing electricity had no oversight of what was happening. What is more they could not get the information that was required from the oil and gas companies in order to be able to function properly as a market. The consequence of this was very high spot prices. Something that became very clear to me as a relatively new Minister of Energy and Resources was something needed to be done about it—that we could not have a regime where there were some industry participants that were having to put drones into the air to fly over the pipeline to try and figure out what was going on because we had a voluntary regime that simply was not delivering the disclosure that was required. So that is why this legislation is before the House and why it is necessary.In answer to the member's questions around the Supplementary Order Paper (SOP) the Government will not be supporting the SOP that the member's put forward and there's a number of very sound reasons why we won't be supporting the Supplementary Order Paper. But I do congratulate the member for thinking about it and for taking the time to put together alternatives to the legislation. I would make the point where you say that industry doesn't want this regulated regime of disclosure. I am yet to meet an industry that comes and asks the Government for regulation. Usually it's in result to a need to ensure that you have a functioning market which has very much been identified through the 2018 situation that came in here. The SOP will affect the Gas Industry Co (GIC) regulatory recommendation process and therefore will have a much broader effect on the regulatory regime than what is included in the SOP's explanatory note. The way in which it is drafted means it will spread much further throughout the regime than I think the member—certainly through the explanatory note to the SOP and certainly through his contribution to this House—intended. I'm very confident that the current procedures that we have in place to consider industry voluntary alternatives are robust enough and can reside within there.The member mentioned the fact that the GIC is currently out there consulting with members around how we ensure security of supply as we go through a transition as all nations across the globe will as we transition away from fossil fuels. They are doing that piece of work because I commissioned them to do it at the end of last year. I asked them to go out and do this piece of consultation because we must have a regulatory regime that is fit for purpose for us to have a transition away from fossil fuels but also protects consumers when we go through that. Critical to that is having adequate transparency provisions in our regulations to make sure that we can start to think of an energy system that we don't have our electricity industry having to wonder what's happening in another part of that energy system that we can actually have windows right across that energy system.The member also continues to repeat some points about our decisions around the ending of offshore oil and gas exploration in 2018 somehow leading to the market conditions we're seeing now. We've discussed many times with that member the fact that actually that simply is not the case. In fact it was found during the election campaign to be an untrue statement. A certain political party was told to stop saying it because it was so untrue. But what we do know is that we do have to prepare for a transition away. We've recently seen the international energy agency come out and actually say that the path that New Zealand's going down is something that the world needs to look at that simply continuing to issue exploration permits for oil and gas is an untenable position for countries to find them in. We need regulation to match that.