Julia Banks (Chisholm, Liberal Party) Share this | Link to this | Hansard source

Throughout the year, thousands of Chisholm residents have been filling out my community survey, eager to have their say on the issues of the day and to play their essential role in the functioning of our democracy. One of the most frequent concerns people have raised is rising energy prices, with household electricity prices more than doubling since 2007. During the time when Labor was in government, electricity prices increased by 100 per cent, and we see by South Australia's example what a Labor government does to energy prices.

I'm proud to say the Turnbull government is taking action, with a national plan that will guarantee reliable and affordable energy. Underpinned by the recommendations of the Finkel review and the Energy Security Board and whilst remaining committed to our agreement in the Paris agreements, the Turnbull government's plan is built on three key areas. The first is affordability. It's integral that we tackle the issue of the rising cost of electricity head-on. The Turnbull government, through the introduction of the National Energy Guarantee, will provide certainty for investors, reducing volatility in energy prices, and end the subsidies for renewables which were simply passed on to the consumer. The National Energy Guarantee will generate savings of $100 to $115 per year per person. The second is reliability. Ensuring that blackout disasters witnessed in South Australia are never repeated is of key importance for the Turnbull government. Through guarantees being put in place, the right level of power will always be delivered from a wide variety of sources, such as coal, gas, solar, wind and hydro. The third is emissions. The Turnbull government is not going to shy away from Australia's international commitments to the Paris climate agreements. It will reduce emissions over time with a measured and responsible approach, utilising a market based solution that will ensure emissions are reduced at the lowest cost by using a range of innovative technologies. At the heart of these technologies lies Snowy 2.0, which is set to be the biggest battery in the Southern Hemisphere. Indeed, the Australian Energy Council have come out and said that Snowy 2.0 will help facilitate a smooth transition to a lower-emissions power grid without sacrificing reliability.

These three areas work in conjunction with the Turnbull government's existing policy achievements, including ensuring that energy retailers are offering consumers the best deal, guaranteeing Australians have priority access to gas resources and preventing energy companies from exploiting the system that was previously working against the average Aussie consumer. The Labor Party would see higher taxes and an ideologically driven renewable target—based on the Labor-Greens alliance—that would be simply unrealistic and irresponsible. It would not only threaten the energy security of thousands of Australian families and businesses but put at risk vital services such as hospitals and the wider health network. On the other hand, the Turnbull government has clearly outlined a plan that takes the recommendations of a number of other experts into account in order to formulate an energy policy that will deliver affordable and reliable energy in a considered, sensible and reliable manner.