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?