Nicolle Flint (Boothby, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Energy and Emissions Reduction. How is the Morrison government delivering on its balanced plan to reduce electricity prices and ensure stability in our electricity grid? How does this compare to the risk of alternative approaches?

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

I thank the member for Boothby for her question. I was in her electorate last week, and she is relentlessly focused on delivering a fair deal for Australians on energy, on households, on small businesses and on industry in her electorate, her part of the world. She knows we took to the election a plan for a fair deal for all Australians on energy, and since then we've been delivering just that. We've introduced price caps. We've ensured there's more supply coming into the market. We've established a Retailer Reliability Obligation. We're doing more on gas. We're making sure customers can get the best deal through both price caps—the default market offer—and reference prices. As a result, we are seeing prices coming down.

The CPI tells us that for four consecutive quarters we've seen electricity price reductions totalling 3½ per cent for the first time since records have begun. On top of that, wholesale prices are down. In the last three months, we've seen wholesale prices 35 per cent below where they were year on year in the previous year. In South Australia, in the member's electorate, wholesale prices are down 50 per cent in the last quarter on the previous year. We have a good government in South Australia working with the federal government to make sure those prices are coming down.

Of course, the member of Boothby knows that a fair deal on energy, alongside emissions reductions, is best achieved through technology, not taxes. Technology, not taxes! Last week in Tonsley, in her electorate, we announced the establishment of the Australian Hydrogen Centre, which is all part of our National Hydrogen Strategy. We've committed $500 million since announcing that strategy at COAG last year.

But I was asked if there was another option. There is. There is, and he's sitting opposite. He's sitting right there, next door to the member for Hindmarsh. Their election-losing machine! He's focused on driving up the cost-of-living pressures and business costs for all Australians. He called the target they took to the last election a mistake, but he's doing it all over again. It's deja vu all over again: setting a target without a plan. They don't want to tell Australians what their plan is, because we know what it involves. It involves a carbon tax—a tax on fuel, a tax on electricity, a tax on gas and a tax on farmers. We will not stand for it. It always comes back to a carbon tax. On top of that, it comes back to pink batts, Green Loans and cash for clunkers. Those opposite have no plan, no policies and no idea.