Meridian Energy surprised a select committee this morning with support for changes to the electricity industry, including asset swaps that would see Genesis Energy taking on two of its hydro power stations in the South Island.

Previously, Meridian has said it would prefer to avoid a physical asset swap and instead focus on financial hedging arrangements.

Debate on the amended Emissions Trading Scheme (ETS) is not over yet.

The Government passed the amendment legislation on Thursday and the bill is now before the Finance and Expenditure Select Committee.

After months of hearing from politicians on the subject, the public will now get an opportunity to have their say.

The committee chairman, Craig Foss, invited submissions on the Climate Change Response (Moderated Emissions Trading) Amendment Bill.

Submissions close on October 13.