Libby Coker (Corangamite, Australian Labor Party) Share this | Hansard source

Energy prices are a serious issue for households and businesses. Climate change and the urgent need to reduce emissions are also a serious issue in our regions and farming communities. The Albanese government understands this, and that's why we're acting and getting on with delivering our renewables plan, because this plan will reduce energy bills in the regions and across our nation, and it will reduce the impacts of climate change, like heatwaves, droughts, floods and fires. These climate impacts cost farmers and the agricultural sector.

This plan has already delivered amazing results, with wholesale energy prices now lower than when the coalition left office. We know that, when renewable energy is backed up with batteries and storage, we can enjoy affordable electricity 24/7 all year round. The Albanese government understands that the answer to lowering everyone's energy bills is for governments and businesses to build massive amounts of new solar, wind, pumped hydro and renewable storage as fast as possible, and it will deliver jobs.

That's why the Minister for the Environment and Water's announcement this morning is so important. Our minister has just ticked off Australia's biggest renewable energy solar project ever. This means we will power seven million homes with renewables, the equivalent of all households in New South Wales and Victoria. This heralds Australia's true arrival as a world leader in clean energy. The Australian Energy Market Operator, who runs our electricity grid, is backing in our approach, saying:

We are increasingly seeing renewable energy records being set which is a good thing for Australian consumers as it is key in driving prices down …

The independent Office of Impact Analysis has analysed our Capacity Investment Scheme and said:

… consumers are expected to face lower retail electricity prices on average, and a reduction in reliability risks.

On top of this, and much to the dismay of those opposite, the Albanese government wants to see a future made in Australia, which will invest in renewables and make many thousands of jobs. We have the bill before the House right now. It will boost our capacity to build more things here, especially renewable energy components, and that's what Australians want us to do—make more things here. It's a significant investment, but it has the right outcomes. We are also easing the cost-of-living pressures by giving every household $300 off their energy bills over the next 12 months.

Meanwhile, the coalition have no plans to bring electricity prices down now or in the future, with their risky nuclear reactor thought bubble set to add $1,000 to every household energy bill—and it will supply less than four per cent of household energy needs, if it ever happens. We know that nuclear reactors are not even possible until 2040. What are we supposed to do in the meantime? What we know is that it's not costed, lacks detail and will drive up energy bills. Our approach stands in stark contrast, with a 25 per cent increase in renewables since we came to government only two years ago. We are shifting the dial and putting downward pressure on energy bills, and we're doing so much more.

We've just rolled out two amazing rounds of energy efficiency grants for small business. These are being embraced by small businesses across my electorate of Corangamite, from distilleries to retailers and from farmers to breweries. This grant is helping businesses to reduce their energy bills and embrace energy-efficient technology, as well as reduce emissions. It's all part of our broader agenda to tackle cost-of-living pressures, to drive down power prices and to make sure that regional communities are supported with costed, detailed policies that offer real cost-of-living relief. Our plan is working. I'm looking forward to energy bills coming down for people not just in my electorate but across the nation.

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