Dave Sharma (NSW, Liberal Party) Share this | Hansard source

I think it was on at least 92 occasions, wasn't it, by Prime Minister Anthony Albanese. I stand to be corrected by those opposite. Instead, what we've seen is double-digit increases in the retail prices of electricity and gas for each of the past two years—in the order of 15 per cent annually for electricity and 25 per cent annually for gas. So they promised lower power bills, but power bills are, in fact, increasing.

Finally, the government's policies have failed to make our energy system more reliable. Just last week the Australian Energy Market Operator—the regulator in this space—warned that the largest supply of gas storage on the east coast could run out of gas before the end of the year: 'The supply of gas in all or part of the east coast gas system may be inadequate to meet demand.' With the continued closure of coal-fired power stations coupled with a greater dependence on intermittent forms of energy, our energy system is ever more dependent on gas to act as the swing producer. So, if gas is running low, the stability of our electricity system in its entirety is in peril. We've seen Labor promise to make our energy system more reliable but, instead, the security of our energy system is hanging by a thread. They promised lower emissions but, in fact, emissions are increasing. They promised lower power bills but, in fact, power bills are increasing.

Acting Deputy President McGrath, you'll be pleased to note that there is an alternative, and it's one that the coalition announced just last week. We did that because we know that Labor's renewables-only approach is not reducing our emissions, is not reducing prices and is not making our electricity system more reliable. The coalition believes in a balanced energy mix—not a renewables-only approach. That's why we've promised to pursue, if elected, zero emissions nuclear power generation. Of the 20 most advanced economies—the G20 countries—Australia is the only country either not using nuclear power or moving towards it. We will change that. With 90 per cent of baseload power—predominantly coal-fired power stations—coming to their end of life over the next decade, we need a non-intermittent form of energy to replace them. Currently, large-scale storage is not up to the task. Australians are currently paying some of the highest electricity prices anywhere in the world—upwards of 40c per kilowatt hour—but, in the province of Ontario, for instance, where nuclear power provides 60 per cent of the energy mix, electricity costs are around 14c per kilowatt hour or four times less.

How often do we hear in this debate that we need to listen to the science and be guided by the experts. Here we have a power source which is validated by science, is zero emissions, is used reliably and commercially around the world, which more nations are embarking on and in which Australia has some natural advantages. More than that, it would set up Australia for a whole new wave of industries and new technologies. What's not to like? But Labor doesn't want to touch this. They don't seem to think Australia is up for a sophisticated debate. They don't seem to think that Australia, which has had a functioning nuclear energy industry for over 60 years, has the capability or ambition to imagine an alternative future.