Angus Taylor (Hume, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

In recent weeks, many Australian households have been receiving their quarterly electricity bills, and they've been shocked by what they've seen. Of course, they don't need reminding that before the last election the Prime Minister said over 100 times that there would be a $275 reduction in their electricity bills. But, instead of seeing relief, they've seen an unprecedented surge in their electricity bills. Australian families are drowning in financial strain and paying amongst the most expensive energy bills in the world.

In my electorate of Hume, I'm seeing huge increases amongst households and small businesses. Warwick from Goulburn recently shared his frustration with me at seeing that his electricity bill had increased by $480 since Labor came to power. That's alongside Warren from Camden, who saw the price of his power soar from just over 21c per kilowatt hour to 29c per kilowatt hour in March 2024. Kurt from Crookwell saw his power bill skyrocket from $450 to $715 in the latest quarter. That's an extra $265 a quarter that he has to find in after-tax income to pay his power bill.

The draft DMO, default market offer, that came out recently confirmed that Labor has fallen short by over $1,000—$1,027, to be exact—of its promised price reduction for everyday households. Just think about that for a moment. Instead of saving money, families and pensioners are facing higher bills than ever before. It's not just families, of course, that are facing the brunt of this. Our small businesses, the backbone of the economy in an electorate like Hume, are also reeling from Labor's spiralling energy costs. I recently heard from Russell, who operates Downes Wholesale Nursery in Theresa Park in Western Sydney. His business power costs have risen $24,000 since the Albanese government came to power. Those numbers don't lie.

Startling figures from the Australian Energy Regulator revealed that over 116,000 people have been placed in hardship due to their skyrocketing energy bills. There are nearly 200,000 people in energy debt. These aren't just statistics; they represent the faces of our neighbours, our friends, our fellow Australians, who are suffering under the weight of Labor's incompetence. They have lost all credibility on energy prices, and it has completely shattered trust with the Australian people. As I said, the Prime Minister promised his $275 cut at least 100 times. He should make an unreserved apology to the Australian people for his failure.