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

I thank the honourable member for his question. The government's been very clear: wholesale prices are one of the inputs to retail prices. There are other impacts on retail prices as well, but they are also the element of final retail prices that government policies have the most influence on. That's a good thing because we've seen them fall by 44 per cent just in the last quarter. We saw wholesale prices in Queensland in May 2022 of $347 per megawatt hour. You know what they are today? They are $58 per megawatt hour. We're going to see, increasingly, that sort of impact if we keep the policy settings in place that see more of the cheapest, most reliable form of energy penetrate our energy system. We will see it continue to flow through to wholesale prices and retail prices, and we'll also see continued reforms—

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