Karen Grogan (SA, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Minister for Climate Change and Energy, Senator Wong. Can the minister please inform the Senate how the Albanese Labor government's energy plan is stabilising energy prices after a global crisis?

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

I thank Senator Grogan for her question. It's great to have another question on this side on the cost of living. I've been away for a period of time and I've come back and we're still back where we were, with the Labor government focused on the cost of living and the issues that people are confronted by, trying to make sure that we do all we can to ease the cost of living, and those opposite again trying to whip up fear and division. So some things don't change.

But there was some good news for electricity customers yesterday. The draft default market offer, which is the maximum price that customers can be charged under standard contracts, is stabilising and trending downwards. This comes after the biggest global energy crisis in 50 years. The draft default market offer shows price reductions in most states and territories. There is a reduction of up to 10 per cent for some small businesses—

Opposition Senators:

Opposition senators interjecting—

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

They don't like it, do they? They don't like the good news. And there is a reduction of more than seven per cent for some households. This is encouraging news, but we know how tough people have been doing it. We know families and business have still been doing it tough, which is why we on this side urgently capped skyrocketing coal and gas prices during the crisis. It's why we on this side ensured there was $3 billion in direct bill relief provided for households and small businesses.

By contrast, what happened? They voted against it. Not only do they not ask questions about the cost of living, but they voted against Labor's plan to help Australians with increasing energy prices, which were increasing in great part not only for global reasons but because those opposite did not have a plan for over 10 years. Mr Dutton has given up on cheaper electricity for Australians. They have no plan and they vote against plans by this government— (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Grogan, first supplementary?

Karen Grogan (SA, Australian Labor Party) Share this | Link to this | Hansard source

It's good to hear that those prices are coming down. Noting the recent data suggests Australia's emissions are down, thanks to the increase in renewables, how is the Albanese Labor government supporting Australia's transition, and what impact is this going to have on power prices?

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

Recent data from the Greenhouse Gas Inventory showed emissions in the last quarter of last year were lower than in the same period of the year prior. In fact, they're 25 per cent below June 2005 levels, the base year for our targets under the Paris Agreement. Australia's renewable surge helped to deliver a 71 per cent decrease in wholesale electricity prices over this period while also driving down emissions. There's been record investment in batteries and large-scale storage, $4.9 billion in new financial commitments and more rooftop solar systems installed across the country. We have more work to do to get more renewables into the system, but the evidence is clear: no matter how much Senator Canavan rails against it, the best way to deliver clean, cheap, reliable, resilient energy is to ensure there is more renewable energy in the system.

Meanwhile, over there, they're off on their nuclear fantasy.

Sue Lines (President) Share this | Link to this | Hansard source

Senator Grogan, second supplementary?

Karen Grogan (SA, Australian Labor Party) Share this | Link to this | Hansard source

Can the minister please explain to the Senate how the Albanese Labor government has been acting based on what experts have been saying about the importance of renewable energy? To your earlier point, can you also step out for us why nuclear power isn't a sound option for this country?

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

The Albanese government's plan is supported by the independent advice of the CSIRO and the Australian Energy Market Operator, and they confirm that the lowest-cost plan for a reliable energy plan is world-leading renewables like solar and wind firmed with batteries, pumped hydro, flexible gas and transmission. That's the way towards reliability and more affordable electricity prices.

Meanwhile, what we have on the other side is Mr Dutton's nuclear fairy tale. We know, and experts have clearly said, that the plan that those opposite are touting will increase bills, will cost taxpayers billions, will risk the reliability of the grid and won't be delivered on time. What a great plan from the people who gave us 22 failed plans in government! They've come up with another failed plan. It's a guaranteed energy reliability crisis. That's what they are providing. They are the party of high prices and less reliability. (Time expired)