Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Hansard source

We share your desire to reduce energy prices. I would say in relation to coal-fired power here in Australia is that the market has not funded investment in new coal-fired power. The market has made a decision.

I know Senator Canavan wants taxpayers to fund it, but the market has chosen not to invest in more coal-fired power generation because the market has made an assessment that renewables are cheaper.

In relation to Germany, I am well aware of what is occurring in Germany. It has been part of the discussion between their foreign minister and I and also discussions at the Foreign Ministers Meeting at the G20. Europe is doing the right thing, seeking to reduce reliance on Russian energy. We support that because President Putin is looking to weaponise energy supply, so it is the right thing to do for the European Union and, in particular, Germany to look to make themselves more resilient in the face of that weaponisation. (Time expired)

Opposition senators interjecting—