Michael McCormack (Riverina, National Party, Shadow Minister for International Development and the Pacific) Share this | Link to this | Hansard source

My question is to the Minister for Climate Change and Energy. Australian businesses are facing collapse due to skyrocketing gas prices. A Riverina business called Causmag, in the town of Young, not far from here, has seen its gas bill skyrocket from around $60,000 per month to more than $170,000 per month. After six months in office, why has this government refused to take appropriate steps to pump more gas into the market to reduce prices?

Chris Bowen (McMahon, Australian Labor Party, Minister for Climate Change and Energy) Share this | Link to this | Hansard source

I thank the honourable member for his question. He's right about skyrocketing gas prices; that is true. In December 2021, gas was $11.56 a gigajoule. Today, it's $20.47—all thanks to Ukraine and the illegal war by Russia.

Opposition Members:

Opposition members interjecting—

Chris Bowen (McMahon, Australian Labor Party, Minister for Climate Change and Energy) Share this | Link to this | Hansard source

They scoff! They were blaming the Russian war on 20 May, but apparently, on 23 May, it's got nothing to do with Russia, according to those opposite! It's got nothing to do with it! The honourable member asked us to pump more gas—

Honourable me mbers interjecting—

Milton Dick (Speaker) Share this | Link to this | Hansard source

Order! Members on my left will cease interjecting.

Chris Bowen (McMahon, Australian Labor Party, Minister for Climate Change and Energy) Share this | Link to this | Hansard source

I'm not sure where he would have us find the gas to pump into the system. The honourable member might like to talk about what gas he thinks is lying fallow there that we can just press a button and get going. The honourable member talks about energy prices and policies to reduce energy prices, and we on this side of the House are actively working to ensure that the impacts of the Russian war do not flow through to industries and businesses in Australia.

But I give credit where it's due: those opposite have been active as well. They've been promoting alternative views as well. Last week, they held a seminar about atomic energy—about nuclear energy. That was their big idea for lower power prices last week. The member for Fairfax, the shadow minister, was asked about the views of the CSIRO and AEMO that nuclear energy is the most expensive form of energy available. He said, 'Personally I don't accept those views.' Apparently, the CSIRO is wrong. The honourable member is nodding. Down at the CSIRO all those PhDs are handing back their degrees because the member for Fairfax says they're wrong! What would they know? The AEMO CSIRO found that the cost of small module reactors, which those opposite are so in love with, would cost $16,773 a kilowatt in capital cost. That would be $5 billion a reactor, and we know that they would need 80 across the grid. That would amount to $402 billion, or 17 per cent of GDP. That's their plan for lower energy costs. Now they say they want a conversation. It will be a gasbag-led recovery!