Louise Miller-Frost (Boothby, Australian Labor Party) Share this | Hansard source

Once again, here we are in this place dealing with basic misinformation. This matter of public importance, so called, is a basic misattribution, a diversion and an attempt to 'look over here' to try to fool the Australian public. I say to those opposite: you deeply underestimate Australians. Just as they saw through your lies, misinformation and rorts at the last election, Australians know why energy prices have risen. They also note that energy prices had risen under the previous government—under those opposite. Make no mistake, this government is aware of the pressure that rising prices has on Australians, on families and on businesses.

But when we're looking to allocate blame, or looking for the causes of energy price pressures, let's not insult the intelligence of Australians. They remember that the former energy minister, the member for Hume, deliberately hid rising energy costs so that those were not released until after the election. He actually amended the industry code for electricity retailers on 7 April—a really big coincidence—three days before the election was called, and deliberately hid energy prices from Australian voters until after the election. It's really hard to contemplate how anyone thought that was a justifiable and ethical course of action. But those opposite and the truth are strangers when it comes to energy prices. In May 2019, they promised to deliver an average energy wholesale of $70 per megawatt hour by the end of 2021. Instead, by the time of the election in May 2022, the price was $286.18. They promised a decrease of 25 per cent, but they delivered an increase of 240 per cent over three years—and yet they propose this MPI.

Those opposite announced—because they were terribly good at announcements—$1 billion to support 3,800 megawatts of new generation. This was the Underwriting New Generation Investments program, the very attractively named UNGI fund. Of course, they weren't so good at delivery. Not one single dollar was delivered into that. And under their regime, as we've heard, four gigawatts of capacity left the system, but only one gigawatt was put back in—and yet they lecture us on supply.

Getting back to the question at hand: what is the actual cause of price rises in the energy sector? Those opposite know full well that the major cause of energy prices is the illegal war in Ukraine. Why would events on the other side of the world impact us here in Australia? A large part is because our energy market is exposed to international prices. After 22 energy plans under those opposite, none of which landed, you would think we would have an energy market that worked for us Australians.

This is a government that takes this issue seriously, not as a political pointscoring exercise. So, in December last year, when this government recalled parliament to pass urgent legislation to limit energy price rises, those opposite voted against it. As a result of this intervention, the direct market offer increase is 27 points lower than it would have been in my home state of South Australia. We have energy policies, and we have an energy plan. We know, as do the industry experts, as does the rest of the world, that renewable energy is the cheapest form of energy, and, yes, it will take time, but we have a plan to get there—not 22 plans. We have one plan and we're acting on it.

I'm reminded of the saying: 'When is the best time to start something? Ten years ago. When is the second best time? Now.' After a wasted decade, 10 years lost, when we could have been world leaders in energy transition, instead, we are starting now. But those opposite propose nuclear energy as the solution. The most expensive form of energy but also a form of energy that will take about a decade-and-a-half to establish in the country. If you can find 80 places to put 80 small modular reactors, good on you. Again, they did have a decade to do something about this, to build all of these nuclear reactors. How many to do you think they built? None. How many were started? None. How many have a site? None. How many have planning approval or social licence? Zero. Twenty-two energy plans and zero nuclear reactors built. This government has an energy plan. We are implementing it in a very difficult international environment.

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