Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

to provide the backup or the storage required to replace it, or an alternative generator; they have done nothing except ban the exploration for and development of gas in Victoria—gas, of course, being the fuel that we were supposed to be transitioning to, but of course it is not affordable.

We have seen these rises in electricity prices. We have seen the criticism of the way in which the retail market is operating, particularly in Victoria, and the Treasurer has asked the Australian Competition and Consumer Commission, the consumers' defender, to investigate this move in retail prices, and they will thoroughly investigate that, and they will give us, using their compulsory powers, the information we need to ensure that we protect Australian families, Australian businesses and Australian jobs.

Our energy policy is based on economics and engineering. We are providing the backup. We are defending the market. We are backing storage. We are about to embark on the largest storage project in our history, and we are making sure the consumer watchdog is there, protecting Australian families from rip-offs in the electricity market. We are getting on with the job. Labor is standing in the way of affordable and reliable electricity.

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