Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Babet for the question and for the heads-up on the question today. I don't think I congratulated you last week on your first question. I know this is your second one because I got your first. Congratulations on both of them.

In terms of our plan, the legislation that passed the House earlier today, and will now come to the Senate, implements our election commitment to reduce greenhouse gas emissions by 43 per cent. We went to the election with very detailed modelling on how we would achieve that: the Powering Australia plan, which is available online to all. The clear impact of that modelling showed that, if we were to implement it—to ensure that we are building a new grid, to enable 82 per cent renewable energy by 2030; providing the investment certainty that is needed to allow those investment dollars to flow; investing in new energy technology, like solar banks and community batteries; building the workforce; and reducing taxes on electric vehicles—it would also put downward pressure on energy prices.

I think we all accept that the previous government did nothing for nine years and left us in a situation where we have escalating electricity prices, in particular, that they hid from the community before the last election—a 19.7 per cent increase in electricity prices. Our plan, which is the cheapest form of energy at the moment, is renewable energy. The cost of coal is expected to be $141 and gas $133 by 2030; in contrast, the cost of renewables, which we want to invest in, is $63 a megawatt hour. (Time expired)