Pat Conroy (Shortland, Australian Labor Party, Minister for Defence Industry) Share this | Hansard source

I thank the newly-shaven member for Hunter. His passion for jobs in our community is very laudable. We know that our vibrant, world-class industrial sector delivers good jobs for Australians—hundreds of thousands of jobs—and most of them in regional Australia. But the truth is that, without access to cheap and reliable energy, these industries and jobs are under threat. Just ask the workers at Tomago. Rio has been very clear: they haven't been able to secure competitive coal power offers. That's the truth of the matter. But it's a very different situation in Gladstone, where Rio have been able to secure renewable energy agreements. Boyne Island smelter has secured 80 per cent of its electricity needs through new firm renewable projects—the cheapest power available—at prices that will not only keep the smelter open but give the owners the confidence they need to invest.

The bottom line is that, without access to reliable energy now and for years to come, heavy industries like smelters will not have a future. The future is renewables, and the Albanese government recognises this. We're supporting industries to move to renewable energy through the Powering the Regions Fund and the Green Aluminium Production Credit. The Net Zero Fund will invest $5 billion from the NRF on energy efficiency and decarbonising large industrial sites and will also invest in low-emissions manufacturing. The Capacity Investment Scheme is delivering 40 gigawatts of the cheapest generation storage available. The CEFC, which those opposite tried to abolish, has driven renewable energy infrastructure and technology projects nationwide.

The truth is that, at Tomago, we're seeing the consequences of the coalition's decade of energy policy failure—22 failed energy policies, and the workers of Tomago are paying the price.

See this speech in context