Matthew Canavan (Queensland, Liberal National Party, Minister for Resources and Northern Australia) Share this | Hansard source

Well, in that same report that the ACCC released on gas markets in the last few weeks, they clearly pointed out one other point I made earlier in regard to Senator Stoker's question, which was that we need to develop our energy resources if we're going to bring down prices further. Further reductions in gas prices do require a supply of more gas coming onto the market. The ACCC said:

While conditions in the east coast gas market have eased considerably since the extremes reported in 2017, only action by governments and the gas industry to increase domestic gas supply can bring material price reductions into the future …   

That is the clear advice to governments; those that want to bring energy prices down have to come on the journey of supporting the development of gas supply. We need more gas supply in southern Australia. That's why we need to get rid of these unscientific moratoriums and bans in states that are depriving Australians of their gas resources, that are pushing up power prices for all Australians and that will cost jobs unless action is taken.