Tony Pasin (Barker, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Energy. Minister, could you update the House on what action the government is taking to put downward pressure on prices for energy and what this means for senior Australians? And, Minister, are you aware of any alternative approaches?

Angus Taylor (Hume, Liberal Party, Minister for Energy) Share this | Link to this | Hansard source

I thank the honourable member for Barker for his question. I recognise his strong advocacy on behalf of his constituents on this all-important issue. He has almost 31,000 older Australians over the age of 65 in his electorate. He knows that they're grandparents, they're pensioners and they're self-funded retirees, and they make an extraordinary contribution to the community in Barker and across Australia, in CWAs, in men's sheds, in show societies and in Rotary clubs. They make contributions across the board.

My first priority as the Minister for Energy is bringing down electricity prices for all Australians but particularly for those who are struggling to make ends meet. We know that cost-of-living pressures are particularly important for older Australians. It can mean the difference between heating and eating. It can mean being reluctant to turn on the air conditioner during a hot summer. And that's why we're taking practical action to further reduce electricity prices by establishing a price safety net to make sure customers get the best available deal, taking a big stick to the big energy companies and backing investment in new generation and competition. I say 'further reduce' because prices are already coming down. In this year alone, we've seen a 25 per cent reduction in the spot price in the National Electricity Market, and we expect that to be passed on to consumers. We've already put in place measures to rein in the power of the networks. If those opposite had done that, it would have saved Australians over $6 billion.

The member for Barker asked about alternatives. And we've seen alternatives in the member's home state, because the former Labor Premier in South Australia ran a grand experiment with a 50 per cent renewable energy target, and the outcome was clear. Electricity prices were amongst the highest in the world at just under 50c per kilowatt hour—the highest in Australia and amongst the highest in the world. And the Leader of the Opposition wants to turn this experiment national. We don't want prices across Australia of almost 50c per kilowatt hour. Labor talks a big game when it comes to looking after the most vulnerable, but it's this government that is unambiguously focused on getting electricity prices down and looking after the welfare of older Australians.

Scott Morrison (Cook, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

After 21 well-answered questions, I ask that further questions be placed on the Notice Paper. And, if Fatman Scoop is watching, I'll see you at RNB Fridays.