Chris Bowen (McMahon, Australian Labor Party, Minister for Climate Change and Energy) Share this | Hansard source

Of course, we're also implementing the capacity investment mechanism, agreed unanimously by me, on behalf of the Commonwealth, and every state and territory minister, again just before Christmas. This will unleash a minimum, conservatively, of $10 billion worth of investment and six gigawatts of clean, dispatchable power. That's very important because over the last decade we saw, as the House might recall, four gigawatts leave the grid and only one gigawatt of dispatchable energy come onto the grid, which is a big part of the challenge we are facing today.

Of course, we've also abolished the member for Hume's failed Underwriting New Generation Investments scheme and recommitted the money to a big-battery program. I was pleased to announce eight big batteries at a cost of $179 million just before Christmas. That is what good government does. It gets on with the job. It doesn't delay. It doesn't deny. It doesn't dissemble. It gets on with the job. That's what the Albanese government's doing, because we know that the cheapest form of energy is renewable energy. We don't need to go to Japan to make videos about energy in Hiroshima; we're getting on with the job. (Time expired)

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