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

We know that, were Labor to implement its policy of a 45 per cent cut in emissions by 2030, nearly double what we had committed to in Paris, a 50 per cent renewable energy target would add nearly $200 a year to household energy bills—as against a $110 to $115 saving from the implementation of the National Energy Guarantee. So that is the difference—$300 a year is the tax Australians would have to pay for the Labor Party's energy incompetence. Compare that to what we're doing. The National Energy Guarantee is recommended by the brightest minds in the business—those with the most experience and the most authority. You'd think Labor would embrace it. No, they have described it as science fiction and nonsense.

What about gas prices? They went through the roof because of Labor's failure to recognise that, if you allow exports from the east coast without doing anything to protect the domestic market, you'll get tight supply and higher prices. They were warned. They ignored the warnings. Prices went through the roof, and so did electricity prices. Sixty five thousand jobs are at risk. We moved, and we have now secured the gas supplies that the east coast market needs—no thanks to the Labor Party, cleaning up their mess. We've delivered reform on limited merits reviews. No more can the owners of the poles and wires game the system and jack up prices. (Time expired)

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