Chris Bowen (McMahon, Australian Labor Party, Minister for Climate Change and Energy) Share this | Hansard source

in New South Wales, our home state, has seen a 21 per cent increase, compared to what the Energy Regulator indicated to the government was likely—a 40 per cent increase—absent intervention. In relation to those households, 1.6 million in New South Wales, for example, have received the rebates negotiated by the Treasurer on behalf of the Commonwealth and the states and territories. Instead of facing a 40 per cent increase in power bills they will see an eight per cent decrease, an eight per cent cut, in their energy bills as a result of the intervention of the Albanese government.

There are similar figures right around the country. Take South Australia for example, which was facing a 51 per cent increase. Instead we've seen a 24 per cent increase. After the impact of the rebates, there has been a three per cent cut in their energy bills.

The choice facing the Australian parliament was either to let these increases flow through to Australian households doing it tough and Australian businesses doing it tough or to intervene and act. The government chose to intervene and act. We've seen the impact of that today. Indeed, as the Prime Minister indicated, the Energy Regulator, in crystal-clear language, made the importance of that intervention clear earlier today, saying that these increases would have had a five in front of them in the absence of action. We've seen a similar response from the Australian Energy Council when talking about the impact of the rebates.

The honourable member asked me about threats. Not only did those opposite vote against the intervention but the Leader of the Opposition has doubled down, not admitted he got it wrong and said that he would rip up this intervention if he became Prime Minister. He would repeal the intervention. He would see these power price increases flow through to Australians without any intervention on his behalf. He wouldn't step forward to protect Australians against the impact of these increases. He would just let them rip. That's his policy—let these increases rip.

This government has a different approach. Whether you're in south-western Sydney or in suburbs or regions anywhere in Australia, this government will intervene to protect you from the impact of these power price rises. We will intervene to ensure support for Australians— (Time expired)

Honourable members interjecting—

See this speech in context