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

I thank the senator for his question, and I take the liberty of congratulating him on the fine maiden speech that he delivered to the chamber yesterday. The Turnbull government is taking the next step in our comprehensive action to deal with energy affordability in Australia and to guarantee the reliability and security of our energy markets whilst also meeting our emissions reductions obligations. We understand that households and businesses have been doing it tough and are doing it tough. That is why we have a comprehensive range of policies to make sure that energy price pressure is a downwards pressure and downwards movement.

We're powering ahead with our new National Energy Guarantee. As you've heard from Senator Brandis, this is a guarantee that can deliver more affordable, more reliable energy, whilst meeting Australia's international commitments. It will help to drive the right type of investment in Australia's energy market and generation—investment that can mean that every business and every household can have confidence that, when they flick the switch, the power they need is there for them to succeed and operate. It does so, reducing emissions, but without the need for complex subsidies, taxes, trading schemes or new government bureaucracies. It's a technology-neutral approach that will ensure, as you've heard, continued growth in certain renewables but will do so without it being at the expense of dispatchable energy that is essential for success in the market. It builds on the action we have already taken: action to reform retail markets and ensure retailers give consumers the best possible deal; action to reform network and distribution markets to stop those operating the poles and wires from gaming the system to the tune of billions of dollars; action to reform gas markets to drive down the spot price of gas and guarantee that gas is there when required; action to ensure that we have new generation capabilities that are dispatchable, such as pumped hydro coming on stream. (Time expired)