Marielle Smith (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. In this morning's Age newspaper I read that large investors and super funds are increasingly willing to fund renewable energy projects but have little desire to look at nuclear power. Can the minister explain why the Albanese Labor government, as well as businesses and investors, is backing renewables? What are the key concerns about nuclear energy?

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

Thank you, Senator Smith, for that question. Since we were elected, she and other members of this government have worked to stabilise the energy market, to provide electricity bill relief to those who need it most and to help Australia's energy transition. The article that Senator Smith refers to looks at data from an annual survey released by the Investor Group on Climate Change. That data shows that since the Albanese Labor government has improved policy certainty and regulatory certainty, guess what? Confidence is rallying. The confidence of investors has rallied.

Senator Cash has been interjecting since I started speaking. Those opposite really can't bear the fact that they destroyed policy certainty in this market by having in excess of 20 policies over 10 years. The same report also found that, on the list of technologies investors were looking at, guess what was last? Nuclear power. Now, for anyone actually interested in facts or evidence this doesn't come as a surprise, because nuclear energy would increase bills, would cost taxpayers billions, risk reliability of the grid and won't be delivered on time. What a wonderful policy. Those opposite continue to cling to their nuclear fantasy. This morning the SMH published an article entitled 'Not in my backyard: Liberals, Nationals go cold on nuclear.' It detailed how 12 opposition MPs had publicly backed nuclear energy but refused to commit to hosting a nuclear power plant in their own electorates. That shows the courage of their convictions, doesn't it? Even Mr O'Brien won't back a power station in his electorate. They have no plan. They delivered nothing in government, and they still have no plan.

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

Senator Smith, first supplementary?

Marielle Smith (SA, Australian Labor Party) Share this | Link to this | Hansard source

Thank you, Minister, for that response. How is the Albanese Labor government setting up the clean, cheap, reliable and resilient energy network while also working to stabilise the energy market now?

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

This government took action to shield Australian families and businesses from the worst of the global energy price spikes. Our energy price relief rebates rolled out to more than five million households, lowering bills by hundreds of dollars while also lowering inflation. The draft default market offer maximum price that customers can be charged under standard contracts is stabilising and trending downwards.

Let's remember who voted against the price relief package. Who has opposed every step the government, these senators, have taken to try to work with Australians to help Australians who are facing high energy bills because of global markets? Those opposite opposed us every step of the way. We are delivering the Rewiring the Nation, the Expanded Capacity Investment Scheme and the gas code, and the Energy Market Operator says this is the lowest cost way to deliver a secure and reliable grid overcoming decades.

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

Senator Smith, a second supplementary?

Marielle Smith (SA, Australian Labor Party) Share this | Link to this | Hansard source

I thank the minister for that response as well. Whatever energy experts said about the Albanese Labor government's approach to deliver a clean, cheap, reliable and resilient energy system?

Opposition Senators:

Opposition senators interjecting—

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

Order! May I invite all of those interjecting before I have even called the minister to make your contribution at some other time, but not question time.

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

The Albanese government's energy plan is supported by independent advice from the CSIRO and the Australian Energy Market Operator. The plan of those opposite is supported by whom? That plan, supported by Senator Rennick and Senator Callaghan, is designed to placate all of those who, for 10 years, stopped any action on climate change by a coalition government. The work we are doing is supported by businesses and investors alike. I think we have all lost count of how many energy policies those opposite have had, but it is certainly over 20. The reality is that the opposition have nothing positive to offer the country. They just say no and they oppose everything. We on this side are here to get things done and we will—and we are.