Greg Combet (Charlton, Australian Labor Party, Minister for Climate Change and Energy Efficiency) Share this | Hansard source

I was being relevant to the question in that I was asked about market mechanisms and, of course, this is something that under the opposition leader has been abandoned as a policy position. In fact, the opposition is losing its way on economic policy.

Earlier in question time, reference was made to Mr Grant King, the head of Origin Energy, and to some comments he made several months ago—in April this year—remarking upon the potentiality for a threefold increase in electricity prices by the end of this decade. It was represented, I think by the member for Menzies, that that threefold increase was somehow related to the introduction of a carbon price. Over the ensuing six months there has been considerable opportunity to discuss with Mr King exactly the intent of his comments. Far from reflecting upon the impact of a market mechanism for a carbon price, he was making the point that the transmission network costs were going to increase and that in the absence of a carbon price we would face increases of that nature. Mr King knows well, as the head of Origin Energy, how important it is to have a carbon price mechanism in our economy. The type of policy opportunism that we hear from the opposition, the inconsistency in policy positions, generates further uncertainty for the business community.

The House could consider for a moment the circumstances for the business community should the opposition adopt an economically responsible and coherent position. It would be in the national interest for there to be a community of view about the appropriateness and necessity for a market mechanism, a carbon price to be introduced into the economy. (Time expired)

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