Tim Wilson (Goldstein, Liberal Party, Assistant Minister to the Minister for Industry, Energy and Emissions Reduction) Share this | Hansard source

Firstly, I would like to thank those who have contributed to this important debate on the Offshore Electricity Infrastructure Bill 2021 and related bills. Australia has an abundance of offshore electricity generation potential, which can provide considerable benefits that are in Australia's national interest. This bill delivers on the Morrison government's commitment to capitalise on this potential. The establishment of the offshore electricity sector will deliver significant benefits to all Australians. Importantly, it will promote regional development by enabling substantial investment in Australia's coastal regions, creating jobs and growing local economies. Investment in transmission infrastructure will support a more secure and reliable electricity system. Market competition from new electricity generation capacity will help put further downward pressure on wholesale electricity prices. We can take advantage of evolving and emerging technologies to secure effective electricity solutions for Australia. Thousands of skilled regional jobs can be created, providing both benefits and indirect opportunities for regional businesses.

These bills will help the implementation of critical underwater transmission projects such as Marinus Link, the proposed 1,500 megawatt transmission line between Tasmania and Victoria. Marinus Link will unlock new investment in generation projects, including pumped hydro energy storage and will help deliver a more reliable, affordable energy system, helping keep the lights on and prices low. It will also support development of generation projects, including Star of the South, a proposed offshore wind project already under initial development off the coast of Gippsland in Victoria. There are at least 10 other offshore generation projects that have been proposed around Australia.

This package of bills establishes a regulatory framework to enable offshore electricity infrastructure projects, including transmission and generation projects, in Commonwealth waters. The Offshore Electricity Infrastructure Bill 2021, known as the main bill, provides a robust mechanism for granting licenses to allow the development of offshore electricity projects in Commonwealth waters, while providing projections for safety of workers and strong protections of other maritime stakeholders. The main bill also establishes statutory authorities to govern the administration, compliance and enforcement of the regulatory framework.

The Offshore Electricity Infrastructure (Regulatory Levies) Bill 2021 ensures the offshore infrastructure registrar and offshore infrastructure regulator, established under the main bill, are fully cost recovered to undertake the functions required to facilitate the life cycle of offshore electricity infrastructure projects. The Offshore Electricity Infrastructure (Consequence Amendments) Bill 2021 makes a number of technical amendments to existing acts to ensure the effective implementation of the regulatory framework. Together, these bills will provide a framework to progress projects and keep opportunities for regional communities in our energy sector. This will help create thousands of jobs, strengthen our economy and support a more affordable and secure energy system. I commend these bills to the House.

Question agreed to.

Original question agreed to.

Bills read a second time.

Message from the Governor-General recommending appropriation announced.

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