Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

Honourable members may want to listen. As they would know, if they've studied the mechanism, there is an elaborate process of fact finding and consultation that leads up to the making of the decision. But it is also important to recognise that the foreshadowed policy has already had a very beneficial result on gas prices. We've seen large amounts of additional gas being made available into the market, including that announced today by Santos—another 30 petajoules of gas to be supplied into east coast domestic market—and, as I said earlier, we've seen wholesale spot prices easing substantially since the announcement of the policy was made earlier in the year. So we are taking action that is having the desired effect of making more gas available and bringing down the price of gas, a price that had become very high—unaffordably high—because of the complacency and neglect of the honourable member's party when they were in government.

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