17 August 2017

Speech in parliament: Turnbull Government is forcing down power and gas prices

Energy security is one of the top priorities of the Turnbull government. That’s why we’re taking such strong action to drive down the cost of electricity and gas. This includes tough new regulations to give domestic gas customers priority access to supply before it’s exported; stopping energy companies gaming the system, restricting their right of appeal; and encouraging innovation and new technology, including the development of the game-changing Snowy Hydro 2.0. Forty-nine of the 50 recommendations of the Finkle report have been accepted, including ensuring that intermittent renewable energy installations must have backup base load power and ensuring that power stations give at least three years notice before closing down.

The sudden closure of Hazelwood in Victoria, forced by Premier Daniel Andrews, has robbed Victoria of 20 per cent of its power supply and dramatically forced up prices. Our government has now announced more measures to hold energy retailers to account to stop them ripping off Australian consumers. This includes contacting all customers who are on expired discounts so that customers will be told of a better deal and developing proper plain-English fact sheets. What do we see from Labor in contrast? A dangerous mix of policies that will hit energy affordability and security, including an emissions intensity scheme and no energy security plan.

17 August 2017