This House has already agreed that the introduction of a confidential reserve price is necessary to the functioning of auctions under the emissions trading scheme. This bill simply enacts that intent. These changes were first signalled to market participants more than seven weeks ago. This was to allow market participants sufficient time to plan ahead of the first auction on 17 March. Even though it has been clear that these changes are coming, it is important that ETS participants and other interested New Zealanders are given the opportunity to have their say through a formal parliamentary process. That is why I am proposing that the select committee do consider the bill, albeit over a much shorter time period than normal. Because the setting of the confidential reserve price is not sufficiently complex or contentious, I have no doubt that the select committee can meet the time frames that I invite the House to support in this motion. Today I respectfully ask that the Environment Committee consider the bill thoroughly and report back to the House by 4 March. 