Angus Taylor (Hume, Liberal Party, Minister for Energy and Emissions Reduction) Share this | Hansard source

I thank the member for Robertson for her question and for her steadfast commitment to affordable, reliable energy as we bring down emissions across her electorate. The member for Robertson has always believed in the transformative power of technology and research. That's why she supports and has advocated for the Central Coast research institute, which is very much something that she has led the development on. She knows that it's through technology that we deliver affordable, reliable energy, and we do that whilst bringing down emissions, and our plan is working.

We've seen an 11 per cent reduction in electricity prices in the last year alone. We've seen nine consecutive quarters of electricity price reductions. But we need to continue to drive down pressure on prices. That's why when Liddell closes in 2023 we will see EnergyAustralia invest in a gas generator in the Illawarra and Snowy, with our support, invest in a 660-megawatt gas generator at Kurri Kurri. That project will create 1,800 direct and indirect jobs alongside supporting the jobs of customers in critical industries like the aluminium smelting industry—the Tomago smelter in particular.

We're also delivering the essential energy infrastructure that's needed to bring down prices and keep the lights on, like the South Australia and New South Wales interconnector supported by the Clean Energy Finance Corporation—$295 million. That will keep the lights on, put pressure on prices and create 1,700 jobs during construction. And we're doing all of this whilst we're putting downward pressure on emissions.

In the latest data that we published yesterday on emissions reduction, we saw emissions drop to the lowest level on record—20 per cent below the 2005 baseline. We're on target to meet and beat our 2030 targets. At the same time as countries like New Zealand and Canada have seen their emissions barely budge, we are 20 per cent down.

We're continuing to drive investment in clean energy technologies—$20 billion from the Commonwealth, a total investment of $80 billion—with 160,000 jobs from these investments. Our technology-first approach will see Australia meeting and beating our emissions targets and driving jobs and investment exports at the same time.

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