Josh Frydenberg (Kooyong, Liberal Party, Minister for the Environment and Energy) Share this | Hansard source

What is absolutely clear from the Energy Security Board's modelling is that power prices with the National Energy Guarantee will come down by $550. That's why the member for Port Adelaide described it as a very good design. That is why he described it as being a Rolls Royce. That is why the International Energy Agency said this would be a model for other countries around the world. That is why every large miner, manufacturer, farmer and industry group from around the country has got behind the National Energy Guarantee. The Leader of the Opposition talks a big game. He wrote to the Prime Minister last year, and said, 'I want to reach across the political divide. I want to end the climate wars. I want to lower power prices.' But, when it comes to walking the talk, he goes missing. It's maybe because they don't even know what their own policy is.

They went to the last election promising an emissions intensity scheme. That will drive power bills up by $300, compared to the National Energy Guarantee. They went to the last election with a 45 per cent emissions reduction target, which the Business Council of Australia, representing a million-plus workers across the country, described as economy wrecking. They went to the last election with a 50 per cent renewable energy target, but they don't know what their own policy is.

You'd think the shadow Treasurer, the member for McMahon, would know about their renewable energy target. He went on Sky with David Speers, and David Speers asked: 'What about the renewable energy target? You have heard Bill Shorten on radio this morning, I'm sure, unable to say what it would cost. Are you able to say what it would cost?'

Member for McMahon: 'W-w-w-well, what we have i-i-i-is two Labor policies: the renewable energy target; and then there's the goal of getting to 50 per cent renewable energy.' 'Hang on', says Speers, 'There's a difference between a goal and a renewable energy target?' 'Well, there's a renewable energy target, um, and then we have the 50 per cent aspiration, which is separate to our renewable energy target.' 'Hang on,' says David Speers, 'That sounds like an important nuance.' Member for McMahon: 'Well, there's nothing new here, David; nothing new. You asked me about the renewable energy target, and I don't want to mislead you.' David Speers: 'Your colleague Mark Butler does refer to it is as the 50 per cent renewable target.' 'Oh, well, then there's the RET, and I'm being precise with, you know, you know, intentionally.' The Leader of the Opposition, the member for McMahon and the member for Port Adelaide don't even know what the policy is. But what the Australian people know is one thing: under the Labor Party, you'll always pay more for your power.

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