Lucy Wicks (Robertson, Liberal Party) Share this | Hansard source

Speaking about looking after the needs of all Australians, earlier this week I asked the Treasurer in question time about the importance of a reliable and affordable energy supply for our economy. In his response the Treasurer said, 'We are on the side of Australians and Australian businesses that want to see downward pressure on rising electricity prices', and we are. This government is on the side of Australians, and it is on the side of people and businesses in my electorate of Robertson, who are deeply concerned about rising power prices.

While growing up, I was the eldest of five siblings in a single-income household. Every morning before school we would deliver papers and pamphlets with my father around Point Clare to help pay for household bills, so I know the strain that rising energy bills can have on a family—particularly these days. And so do many people on the Central Coast. I have heard from around 1,300 people in my electorate who are deeply concerned about their power bills and the impact it will have on their families.

Joseph from Bensville told me he wants affordable energy, and soon. Patricia in Kincumber has said she has been told her bill is going up and, quite rightly, she wants some answers as to why. Rodney from Umina Beach contacted me and said, 'We need to secure our power.' Rodney asked that the government 'just get on with it,' and I am pleased to be able to tell Rodney and everyone in my electorate that we are doing just that. Paul from Terrigal, a former chief petroleum engineer, also got in touch to say that it was high time we had an in-depth look at our energy situation and security of gas supply. People like this across the Central Coast want to know what this government is doing to help them with their energy bills, so I am very pleased to be part of a government that has this week taken very decisive action for people in my electorate like Joseph, Patricia, Rodney and Paul—and, indeed, for those people around our nation. The decisions we are making in this area are designed to ease pressure on families and to help make businesses more competitive. We are putting our local families and businesses first.

But people in my electorate are already asking what all this means. What it means is that our gas prices have been rising; in fact, prices have tripled over the last five years, and many companies that rely on gas in their day-to-day operations are doing it tough. I am advised that prices have been rising as a result of supply shortfalls here at home, and families and businesses in my electorate want to know why. Put simply, we are a large producer of gas but much of this is exported, which sometimes leaves Australia undersupplied. It is not fair that Australians pay more than overseas customers do, so the Australian Domestic Gas Security Mechanism, or ADGSM, will enable the government to place restrictions on gas exporters when we are experiencing supply shortages here.

How does that affect our power prices? By making sure that Australia has the supply it needs, we will be putting downward pressure on gas prices here at home. Asking the ACCC to review retail electricity prices will ensure, or will help to ensure, that retailers are getting the best deal for their customers. Competition in retail electricity markets should mean lower prices for our customers. However, it seems that those markets are not operating as effectively as they could be, which is part of what the ACCC will be looking at. With an additional $67 million for the Australian Energy Regulator we will stop big companies from trying to overturn decisions made by the regulator. Fifty-two appeals have been made by companies, and of those the courts ruled against the consumer 31 times. This government is saying that this needs to end. By asking the Australian Energy Market Operator how we can ensure that continuous power is provided we are securing our energy for the future.

This plan shows that the government is committed to energy affordability and reliability as we move to a lower-emissions future. This is in stark contrast to Labor's plan, which will hurt energy security and drive prices up. Labor wants to put ideology before economics and technology, which will unfortunately only drive up prices further. We are taking action on this issue because we want to ensure that the lights stay on and prices stay low for all Australians while we remain in a strong position to meet our emission targets.

We know that there is no magic fix to this issue, but what we can do and have done is take clear action and make strong plans to reduce the price of energy. This is incredibly important for people in my electorate, and I commend the government's actions to help reduce energy prices for Central Coast residents and businesses.

See this speech in context