Ken O'Dowd (Flynn, National Party) Share this | Link to this | Hansard source

Today I'd like to speak on the energy crisis facing Australia and my solution to remedy the situation, which can't be allowed to continue. Coal-fired power stations are the most reliable and affordable solution. National policy must ensure no more coal-fired power stations are shut down or mothballed until this mess is sorted out. Alan Finkel is in support of extending the life of existing coal-fired plants. Dr Finkel also supports power station owners investing more money on upgrading the existing plants—some $600 million to $700 million. Upgrade would extend the life of most plants by 10 to 15 years. Investing in upgrades reduces the risk of outages and cost blowouts. The Australian Energy Market Operator support the fact that the market needs more generation. They're quite adamant that, if this country is to go forward, we will need capacity to prevent supply disruption.

Coal-fired power stations are paying for the renewable energy subsidies. Antiquated rules that discriminate against coal were introduced in 1998 under John Howard in one of the worst bits of legislation I can recall. Changes to the national energy market rules could eliminate the distortion in the electricity market. Changes to the national energy market would correct this overnight with the stroke of a pen. Closure of coal-fired power stations would result in thousands of job losses, direct and indirect. Construction of HELE power stations would require five years from making the decision to seeing the power station built. We cannot wait that long. Tearing up gas contracts with overseas companies puts our sovereign risk at stake. I can recall that $80 billion was spent in my hometown of Gladstone by local energy providers—Santos and the like—but a lot of money did come from overseas investors and, in return, we must maintain the supply to those countries who supported us in building those gas plants.

An opposition member: Breaking free from the pack, are you?

No. Where are the New South Wales and Victorian gas moratoriums? Why aren't they drilling for gas? They want to use gas, but they want the gas to come from Queensland.

An opposition member: New South Wales has one as well—a moratorium.

Maria Vamvakinou (Calwell, Australian Labor Party) Share this | Link to this | Hansard source

Order!

Ken O'Dowd (Flynn, National Party) Share this | Link to this | Hansard source

I did say New South Wales.

Maria Vamvakinou (Calwell, Australian Labor Party) Share this | Link to this | Hansard source

If no member objects, constituency statements will continue for another 30 minutes.