Friday 19 May 2006
ABC NT Local News

The federal Energy Minister says it is only a matter time before the Northern Territory has a new uranium mine.

Ian Macfarlane will be chairing a meeting of state and territory energy ministers in Darwin today.

They will discuss reforming Australia's energy industry.

Mr Macfarlane says the issue of nuclear power is not on the agenda.

But he says he will meet people from the minerals sector while he is in the Territory and uranium mining is a hot topic.

"In terms of moving uranium forward, we're going to see continued exploration in the Territory," he said.

"There has been a very significant increase in exploration activity and it will only be a matter of time until we see that turned into a new mine."

Mr Macfarlane says reforming the energy market will increase investor confidence.

He says there are some vital steps to take to ensure Australia has a truly competitive electricity and gas market.

"We have a single regulator and the states will work towards putting all the powers and regulation in the hands of one regulator," he said.

"The second and just as important thing is to have full retail contestability so that we have competition at the household and at the business level."