Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Hansard source

I thank the member for Brisbane for his question. Today we announced three things to do. In the March 2017 inquiry, which we launched as part of our broader suite of measures to get electricity prices down, we set the work for the ACCC to do and they reported back last month. The three key things we are doing now include a safety net on price for householders and for business, a big stick to keep the big businesses and the energy companies between the lines so those prices do go down, and backing in investment in additional power generation in this country, whether it's coal, whether it's hydro, whether it's gas—things that are firmed; things that actually generate more power and get prices down. One point two million Australians will benefit from our policy of the safety net price, the default price, which will see power prices fall between $183 and $416. On top of that, small and medium sized enterprises will benefit from a fallen price of between $560 and $1,500. That's a fall in prices as a result of the policies being pursued by this government. They were recommended to us by the ACCC and we're acting on that report. It will also simplify the policies and simplify the prices so people know that—

Mr Bowen interjecting—

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