Senator JACINTA COLLINS (Victoria) (14:00): My question is to the minister representing the Prime Minister, Senator Brandis. I refer to the Turnbull government's briefing note on its latest energy policy that is reported as stating: Some electricity retailers will not be able to meet the required emissions profile, while others will overachieve. Therefore a secondary exchange will occur between retailers to balance their portfolios. Given electricity retailers will trade to meet required emissions targets, can the minister confirm the policy effectively imposes a price on carbon?