Justine Elliot (Richmond, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. Is the Prime Minister aware The Australian reports today the Nationals have drawn up a set of demands for the Prime Minister headlined by the creation of a fund of up to $5 billion that would deliver government money for new baseload generators, including coal-fired power? Has the Prime Minister agreed to use taxpayers' money to fund new or existing coal-fired power, and is this part of cutting a deal with One Nation to give an $80 billion handout to big business?

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

Under the National Energy Guarantee, power prices will fall. That is why businesses and their representatives, representing over five million workers, were in the parliament this week—to confirm that the National Energy Guarantee is in the national interests. It will mean lower wholesale prices by an average of 23 per cent. That means, for the member for Gilmore's electorate, businesses like Nowchem in Nowra, with their 65 employees—a 40-year-old, family owned business—will benefit from lower energy prices. Milton District Meats will also be better off, with their 35 employees. As the Prime Minister said, prices will start to fall across the main states from 1 July. Also, if you're with an emerging retailer, like Powershop, and you run a small business in Queensland, you will see up to a $1,470 saving in your power bill each year. If you're a household, a family, you will see a saving of more than $800 a year.

We know what it takes to get power prices down. That's the action we're taking. But those opposite are the greatest threat to lower power bills. In the electorate of the member for Port Adelaide, Adelaide Brighton Cement saw through the blackout with 185 people at their business; they lost power for nearly 36 hours. It cost them $13 million. And do you know what the member for Port Adelaide called it? Do you know what he called the blackout in South Australia?

Michael McCormack (Riverina, National Party, Leader of the Nationals) Share this | Link to this | Hansard source

A hiccup.

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

A hiccup! The member for Port Adelaide has now lost his seat, he's now lost the presidency, but there is a new job coming his way. I went to the member for Port Adelaide's profile on the internet, and this is what it said. It said that, in addition to everything that he's done, the member for Port Adelaide served as the member for Grayndler's campaign manager in October 2013 in the federal Labor leadership race.

Tony Smith (Speaker) Share this | Link to this | Hansard source

The Minister for the Environment and Energy will resume his seat. That's fascinating but irrelevant. We'll just go to the next question.