Ian Macfarlane (Groom, Liberal Party, Minister for Industry, Tourism and Resources) Share this | Hansard source

without sacrificing the competitive advantage on which our economy in Australia is built. These are measures like the $100 million Renewable Energy Development Initiative, known as REDI; our $75 million Solar Cities initiative; and our $500 million Low Emissions Technology Demonstration Fund, which saw $50 million allocated to a power station in the minister for agriculture’s electorate, close to the member for McMillan’s electorate, to help the power industry in that region lower its emissions and maintain its electricity output. These programs were all defined in this white paper I am holding, which the Prime Minister released in June 2004. The Leader of the Opposition might like to read it.

These are practical measures that bring a range of low-emission technologies into our energy mix, whether they be clean coal or renewable. The white paper does mention nuclear power. As we know, since that paper was released we have progressed to a point where we need to consider nuclear power. This is about not putting all our eggs in one technology basket.

In response to the recent report of the Energy Supply Association, can I say that they have demonstrated in their report why this is so important. They say in their report that the narrower the range of energy technologies used the greater the cost will be to achieve emissions cuts. The report forecasts a 65 per cent increase in electricity demand by 2030. The report also says that meeting that demand while cutting emissions will cost billions. The report goes on to say that if nuclear energy is excluded from the mix it will cost billions more. It just goes to show how serious and credible climate change responses require all possible options to be considered, including nuclear.

We know that the members for Hunter and Batman—

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