Meryl Swanson (Paterson, Australian Labor Party) Share this | Hansard source

I'm pleased to be speaking on this consideration in detail and want to take this opportunity to reflect on some of the challenges the Albanese Labor government has inherited and some of the swift actions we're taking to ensure long-term solutions.

As many would appreciate, we have a gas crisis. Gas prices continue to be a challenge for our global economy, with pressure we are seeing as a result of foreign conflict. As Minister King has said, our government has taken action to protect Australia's gas supply while maintaining our trusted trade and investment relationships with many key strategic partners. I want to commend the minister—and I'm pleased she's here today—and, indeed, the cabinet on developing and delivering a package of reforms that will modernise energy market regulation with states and territories. Our package will increase regulatory oversight, ensure more monitoring of gas markets and improve the functioning of the Australian Domestic Gas Security Mechanism.

I want to take a moment to speak about a critical gas project in my home town of Kurri Kurri in my electorate. The Hunter Power Project, locally known as the Kurri Kurri gas plant, is being delivered by Snowy Hydro. This power station will comprise two heavy-duty open cycle turbines, which are the latest and most efficient turbines the world's best manufacturers can offer for this site. Last month I was delighted to hear that the turbines have arrived in the terrific Port of Newcastle and will be loaded off the ships and transported to the sites in the next few days.

I've made the case, as have many in this place of late, that gas is a critical step in our energy transition as we head towards net zero. We all understand the importance of transitioning and securing our grid. However, it must be done sensibly and practically. In my home state of New South Wales we still have a heavy reliance on traditional energies, and this is a fact we can't ignore. Just yesterday, 60 per cent of New South Wales energy was produced by coal-fired power stations. I commend Minister Bowen for his support for the Kurri Kurri gas project and note that, under Labor's plan, the open cycle gas turbines will operate on natural gas but will have hydrogen capacity into the future.

Our government has significant opportunities in this term of parliament and we intend to work with industry in continuing to address the challenges of energy supply and successful transition. As a government, we will effectively shape the future of Australia's energy generation because we get it. We understand you can achieve net zero while still supporting traditional energy industries. We are able to do this. The former government was incapable of getting their head around the fact that this is possible. Indeed, it is absolutely necessary. We cannot trash our traditional energy industries, like coal and gas. We must embrace them and we can also embrace net zero, and we are doing just that. We can walk and chew gum, unlike those opposite.

We also have an opportunity in bioenergy, which is a form of renewable energy generated from the conversion of biomass into heat, electricity, biogas and liquid fuels. By the start of the next decade Australia's bioenergy sector could contribute around $10 billion in extra GDP per annum and more than 26,000 jobs. On top of this, it'll reduce emissions by around 10 per cent, divert an extra six per cent of waste from landfill and enhance fuel security for our country—that is also a winner. I'm delighted to be working with a Labor government that is exploring innovation and exciting opportunities to secure our country's energy future, including in regional areas like my own and like the member for Hunter's. I know that industry welcomes the work being done by our government.

I would like to touch on a quick point. The former speaker mentioned that our government is not doing anything in food manufacturing. I can say that we've established a $17.2 million pilot food manufacturing innovation hub on the Central Coast just south of my electorate, which will complement agribusiness across the Hunter. The hub will be a regional driver for employment and economic growth, and it will also be one of those things that drives food manufacturing innovation. This project will increase employment opportunities in food processing and manufacturing, and it will also support the local economy by increasing opportunities for education, skills, research and development and tourism. This government will deliver on energy and on modern manufacturing innovation.

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