Josh Frydenberg (Kooyong, Liberal Party, Minister for the Environment and Energy) Share this | Hansard source

I thank the member for Chisholm for her question and acknowledge her deep interest in and concern about the energy sector and rising power prices and the importance of taking action on a number of fronts to reduce the pressure on family electricity bills. The Turnbull government's been taking action on a number of fronts, including in reining in the power of networks, in ensuring a better deal for families from the retailers and in ensuring that Australians get access to gas before it is shipped overseas. Our announcement of the National Energy Guarantee is a credible, workable, pro-market policy that will deliver lower power prices for Australians and a more reliable system. Unlike the policies proposed by those opposite, this involves no taxes, no subsidies and no emissions trading schemes. It will see, on the basis of the advice and analysis of the Energy Security Board, savings of up to $115 per annum for an average Australian household.

Since the announcement by the Turnbull government, there's been enormous widespread support, including from Australia's largest manufacturer, BlueScope Steel. Paul O'Malley said, 'It turns the game around,' 'It re-tilts the playing field,' and 'It's fair'. Australia's Chief Scientist Alan Finkel said it's a 'credible mechanism'. That is from the country's most authoritative voice in energy matters. AGL described it as an 'important step'. Energy Australia said it was a 'serious proposal'. Origin said, 'We look forward to working with the government and energy market bodies to progress it.' Energy Networks Australia welcomed it. The Grattan Institute described it as 'the last piece in the complex jigsaw puzzle of a credible energy and climate change policy', and said it 'should be supported, not only within the Coalition but by Labor, the states, the energy industry and by electricity consumers'. Energy Consumers Australia welcomed it and said it 'integrates the need for reliable power and emissions reductions in the electricity sector, at least cost for consumers'. The BCA, which represents one in ten Australian workers, through the companies, says that it provides 'greater investor confidence than a more complex CET may have'. The Australian Industry Group, which represents more than one million employees, said the plan gives the electricity sector a 'great deal of flexibility'. (Time expired)

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