Russell Broadbent (McMillan, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for the Environment and Energy. Will the minister update the House on the importance of a national energy policy that encourages investment and creates a reliable and affordable system for families and businesses, particularly in my state of Victoria? Is the minister aware of any alternative approaches?

Josh Frydenberg (Kooyong, Liberal Party, Minister for the Environment and Energy) Share this | Link to this | Hansard source

I thank the member for McMillan for his question. I know that he's fighting hard to lower the power bills of people across his electorate and to ensure job security for the workers in his electorate, including those who work in the Latrobe Valley supporting the power industry. It was the Andrews Labor government, supported by those opposite, who abandoned those workers in the Latrobe Valley when they tripled the coal royalties on the businesses there, and it's been left to the coalition to stand up for the blue-collar workers in the Latrobe Valley.

Today in the parliament we're fortunate to have in the House the executive director of the International Energy Agency, Dr Fatih Birol—and you are warmly welcomed to the Australian parliament, Dr Birol. Today, Dr Birol provided a report to the Turnbull government on the Australian energy market, and we welcome the IEA's support for the government's attempt to change the mandate of the Clean Energy Finance Corporation to allow more investment in carbon capture and storage, which would not only help the environment but create more jobs. But, unfortunately, the Labor Party is standing in our way. I welcome the comments by the head of the International Energy Agency that the states should lift their mindless bans and moratoriums on gas development in their states, including in Victoria, which is sitting on 40 years worth of supply, and the Northern Territory, which is sitting on 200 years worth of supply. And I welcome the support from the head of the International Energy Agency, an authoritative voice on international energy matters, who said that our National Energy Guarantee is a promising opportunity, is a golden opportunity and is an opportunity not to be missed.

I'm asked: are there any alternative approaches? We know that when the Labor Party were last in government power prices doubled, and we know that we haven't heard an energy question from them in 118 days—and do you know why? Because they don't stand for anything. When they were in government they were talking up CCCS. The member for Corio said it was critically important. The member for McMahon said, 'We need to make it work.' When it comes to gas development, they said they support the Finkel recommendation to lift the bans, but have they picked up the phone to Daniel Andrews to ask him to lift their bans? When it comes to the National Energy Guarantee, the Leader of the Opposition said we need a national solution—a bipartisan approach—and, when we have the report from the experts, because it's not his idea he refuses to get behind it. When it comes to the Labor Party on energy policy, don't look at what they say; look at what they do. Only the coalition will deliver more affordable, reliable power. (Time expired)