Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

The government has established under the clean energy package an energy security fund to mitigate any energy security risks. We have allocated $5½ billion dollars over six years to help the transmission of highly emissions-intensive coal fired electricity generators. We have also committed to run an expression of interest process to close around 2,000 megawatts of highly emissions-intensive coal fired electricity generation capacity before 2020. The provision of assistance to the energy sector is about maintaining energy security and supporting the sector's transformation to a new low-emissions future. Mr President, I would make the point if those opposite are seriously concerned about business certainty then they would back the carbon price, because the thing that is preventing or stymieing investment in the energy sector is the uncertainty over pricing carbon. That is what is stymieing certainty in the energy sector, aided and abetted and encouraged by the opposition. (Time expired)