Considerable progress has been made in the preparation of a draft legislative scheme to permit exploration for and exploitation of geothermal energy and I have been considering an initial proposal for Heads of the Bill. My aim is to have technical legal drafting completed in time to have a publication of a Bill later this year and I will be bringing proposals to Government for this purpose ìn the near future.
Geothermal energy can be a potentially important source of indigenous energy in specific areas, but it is also a new area of legislative endeavour in this jurisdiction and so the Bill will be substantial, dealing with a range of matters such as ownership of the resource, regulation and licensing of exploration and development, ancillary rights and protection of third party interests. I would add that I have engaged closely with industry and interested parties in a public consultation process and in a series of meetings and workshops to ensure that the legislative proposals have the benefit of their input.