Fiona Phillips (Gilmore, Australian Labor Party) Share this | Hansard source

I am very pleased to have the opportunity to speak today about the Albanese government's Energy Price Relief Plan. As the member for Gilmore, I'm already hearing about the benefits of the Energy Price Relief Plan when I speak to families and small businesses on the New South Wales South Coast. We all know that power prices have been a major concern for many Australians, particularly those on low incomes or running small businesses. On the South Coast, people will tell you that the rising cost of living is starting to really hurt. It hurts to see people in our community having their hard-earned dollars eroded by the rising cost of living. That's why we had to step in and do something.

We wanted to take some of the sting out of the higher power prices and help support Aussie people, and I am so pleased that we are starting to see the benefits flow through to everyday Australians. The Albanese government took a no-nonsense approach to help those who needed it most, and it's working.

Following the announcement, the Australian Energy Market Operator's quarterly report showed electricity futures prices fell steeply for each of the mainland states. Treasury analysis shows that forecast wholesale prices for 2023 have dropped significantly in New South Wales, Queensland, South Australia and Victoria. In New South Wales the wholesale drop was 44 per cent. That's real money, hard-earned money, that will now stay in the pockets of honest, hardworking Australians. In fact, modelling has shown that without this intervention electricity prices would be on average $230 higher next year.

It's important to state that if the Liberals and Nationals had their way power prices would go even higher and households would be getting no relief. It would have been business as usual. In fact, the Liberals are so out of touch they opposed our Energy Price Relief Plan, our plan to make it cheaper to keep the lights on for everyday Australians. They didn't think local households and businesses should get this support. They'd rather put politics first: opposition for opposition's sake.

I am proud that the Albanese Labor government has taken responsible and reasonable steps to deliver targeted support to those who need it most. It's targeted relief delivered quickly: plain and simple. The benefits of this plan will continue to build. Australians will continue to feel the benefits of the Energy Price Relief Plan in the weeks and months to come.

The Energy Price Relief Plan is a solid economic plan. This is clear in the way global markets are responding. It's positive planning for the future. The Liberals had nine years and 22 attempts to formulate an energy plan, and did it work? No. Maybe it was going to be 23 times a charm, but I doubt it. It took the election of the Albanese Labor government for positive change to start, but it's not just the Energy Price Relief Plan. Already we have invested $25 billion in reducing emissions, clean energy and market stability. This includes $20 billion for Rewiring the Nation and $1.9 billion for the Powering the Regions Fund. We've also invested half a billion dollars in the Driving the Nation Fund and a quarter of a billion dollars in community batteries, which will benefit 100,000 households, including those in places like Maloneys Beach in my electorate. We have also provided over $100 million for community solar banks, which will benefit 25,000 households; over $60 million for small businesses to become more energy efficient; and $67 million to give regulators more power to protect gas supply.

The Albanese government won't just keep the lights on; we'll deliver much-needed price relief to everyday Australians. The Albanese government is focused on supporting local people in every way possible, and the Energy Price Relief Plan is a key part of that support. Our economy is facing significant challenges from around the world, including the energy crisis caused by the ongoing war in Ukraine, supply issues stemming from China's transition out of COVID-zero, the very real prospect of a global downturn and the impact of interest rate rises, both globally and locally. Despite these challenges, the Albanese government remains optimistic about the future, particularly in light of the positive impacts that our initiatives are already having. I'm proud to be part of a government that's committed to supporting regional families and small businesses. The Energy Price Relief Plan is just one of the many initiatives that we have introduced, and I look forward to seeing the ongoing benefits that it will bring to Australians on the South Coast and throughout the country.

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