Simon Birmingham (SA, Liberal Party, Minister for Education and Training) Share this | Hansard source

Sadly, we do face obstacles, in the form of state-based renewable energy targets and in the form of those opposite, with their own reckless renewable energy targets. Around 18 months ago, this Senate agreed to reform the renewable energy target. But it took only one month for the Labor Party, having agreed with the reforms that we put through at that time, to backflip, change their position and say they wanted to see a 50 per cent renewable energy target by 2030. They have never said what that would cost; they have never done any modelling; they have never released any details around it. But Bloomberg New Energy Finance estimates it will require $48 billion in investment. That is $48 billion in costs that will flow through to electricity users right around Australia. That is $2,000 for every man, woman and child, or more than $5,000 for every household in additional electricity costs that would come about because of the policies of those opposite. They need to realise that stability and affordability are key, and that is exactly what we are working towards. (Time expired)