Raff Ciccone (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

Happy Thursday! My question is to the minister representing the Minister for Climate Change and Energy, Senator McAllister. We know Australian families have been experiencing cost-of-living pressures, in part from the rising energy prices that Labor inherited from the previous Liberal and National government. Minister, how is the Albanese government's commitment to tackling energy price pressures, such as providing every single Australian household a $300 rebate on their bill, helping these Australian households?

Jenny McAllister (NSW, Australian Labor Party, Minister for Emergency Management) Share this | Link to this | Hansard source

We do know that Australians are working hard right now. They're working hard to keep their budgets on track, and some Australians are doing it tough. What it means is that every little bit counts. This is why our government's No. 1 priority is helping Australians with cost-of-living challenges.

Over the last few weeks many Australian families will have received an electricity bill, and every single one of those bills will be cheaper as a consequence of this government's energy price relief policies. More than 10.7 million Australian households have now received a Commonwealth rebate on their energy bills. More than one million small businesses have also received a rebate. It is part of a $3.49 billion investment by the Albanese government. The most recent data from the Australian Bureau of Statistics showed that the government rebates are having a direct impact on bills and on inflation. According to ABS, electricity prices have fallen 12.3 per cent since June 2023. Without Labor's energy relief fund, electricity prices would have increased 15.4 per cent in that same period. This means more money in the pockets of Australian families.

Our government's energy bill relief supports the investments we are making in the longer term to put downward pressure on energy prices. On 30 October we hit the highest renewable penetration recorded at nearly 75 per cent. It was the third record broken in quick succession. South Australia and Tasmania already regularly meet more than 100 per cent of their operational electricity demand from renewables. Labor is supporting the build-out of firmed renewables, and that is because they are the lowest-cost form of new generation.

Raff Ciccone (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

Thank you, Minister, for that answer. I do note that it is almost two years since the Liberals and the Nationals voted in this place, this very chamber, against the government's plan to deliver energy relief for millions of Australians, including pensioners, veterans and many low-income families. Minister, what further steps has the government taken to put downward pressure on power prices during this time?

Jenny McAllister (NSW, Australian Labor Party, Minister for Emergency Management) Share this | Link to this | Hansard source

Senator Ciccone is right to remember that, in 2022, the Coalition voted against energy bill relief for pensioners, low-income families, veterans and some of our most vulnerable households. They opposed our plan.

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

Senator Colbeck, it is not like you to be so vocal, but I have called you a lot this week. I'm asking you to listen in silence.

Jenny McAllister (NSW, Australian Labor Party, Minister for Emergency Management) Share this | Link to this | Hansard source

Senators will also recall that those opposite opposed our plan to cap coal and gas prices. Wholesale electricity prices are currently around $48, and that is less than one-fifth of the $286 they were when the coalition left office. One of the most important interventions that our government is making is actually restoring certainty and policy predictability to the energy market after a decade of division and disunity. Recently we've seen more evidence of disunity, with Senator Canavan saying net zero is dead, and the member for Hinkler calling for the coalition to reconsider policies around net zero. It is back to the future with this one. (Time expired)

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

Senator Ciccone, second supplementary?

Raff Ciccone (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

According to many Australian energy experts, like AEMO and CSIRO, firmed renewables are the cheapest form of energy and put downward pressure on prices. Minister, what is the impact of different energy regeneration technologies on power prices and reliability for households?

Jenny McAllister (NSW, Australian Labor Party, Minister for Emergency Management) Share this | Link to this | Hansard source

The senator is correct: CSIRO's GenCost report confirmed that firmed renewables continue to be the lowest cost of new generation, and nuclear power, which is proposed by those opposite, is one of the most expensive. Independent analysis from IEEFA shows that nuclear could add an average of $1,200 a year to a four-person household's bills. One of the very big questions that those opposite are yet to answer is how they would ensure that affordable and reliable energy was available during the decades that it would take to build taxpayer funded nuclear power plants. Well, as the Chair of the AER explained to a House committee a few weeks ago, nuclear can't really fill the role of coal. Coal can't last until you'd have nuclear power available. She went on to say:

… we see the reluctance of coal fired generators to offer contracts now because they're worried about the reliability of their own plants.