Sussan Ley (Farrer, Liberal Party, Shadow Minister for Women) Share this | Link to this | Hansard source

My question is to the Prime Minister. Before the election the Prime Minister promised that if he was elected, power prices would drop by $275. Last night the Prime Minister's budget said that power prices would rise by more than 50 per cent. Given the Prime Minister often references his Bachelor of Economics degree, can he advise the House how it is possible to have prices rise by more than 50 per cent, but fall by $275 at the same time?

Government Members:

Government members interjecting—

Milton Dick (Speaker) Share this | Link to this | Hansard source

Order! The House will come to order. I heard the question in silence. I'd like to hear the answer as well.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

The cheapest form of new energy in this country is renewables. That is something that is recognised by the Business Council of Australia, by the Australian Industry Group, by the Australian Chamber of Commerce and Industry and the National Farmers Federation, but is apparently beyond the capacity of those opposite to recognise.

Milton Dick (Speaker) Share this | Link to this | Hansard source

The manager of opposition business will cease interjecting.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

For a decade, we have suffered from the fact that we had 22 different energy policies announced but none of them landed. Even when they went through the Liberal Party room—not once, but twice—they still didn't land. In fact, they so detested the idea of landing an energy policy that when one looked like being landed, they lopped off a Prime Minister instead—not once but twice! And they ended up with the member for Cook. It turned out that one of the hidden figures in the last budget was the member for Cook.

Milton Dick (Speaker) Share this | Link to this | Hansard source

Order! The Prime Minister will pause and I will hear the Deputy Leader of the Opposition.

Sussan Ley (Farrer, Liberal Party, Shadow Minister for Women) Share this | Link to this | Hansard source

A point of order on relevance. It was a tight question. How is it possible—

Milton Dick (Speaker) Share this | Link to this | Hansard source

You may resume your seat, thank you. The question was a broad question around power prices dropping and rising. I am going to give the call to the Prime Minister, who is in order.

If the Leader of the Opposition can cease interjecting and the House could come to order, the Prime Minister will continue.

Order! The Leader of the Opposition!

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I've got plenty of time, Mr Speaker.

Milton Dick (Speaker) Share this | Link to this | Hansard source

I've given the courtesy and made it clear I want to hear these questions in silence and, out of respect for the Deputy Leader of the Opposition, ensured the House could hear the question. I think it is entirely reasonable to allow the Prime Minister to answer the question in the same circumstances. I give the call to the Prime Minister.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

Twenty-two policies were announced and none of them landed. An energy grid built for the middle of the last century—

Ted O'Brien (Fairfax, Liberal Party, Shadow Minister for Climate Change and Energy) Share this | Link to this | Hansard source

We got prices down!

Milton Dick (Speaker) Share this | Link to this | Hansard source

The member for Fairfax!

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

The shadow minister interjects that energy prices went down under the former government—really? Wow!

Honourable members interjecting—

Milton Dick (Speaker) Share this | Link to this | Hansard source

Order! The House will come to order.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

That's absolutely extraordinary. Indeed, so bad was it going that the shadow Treasurer changed the law so that the price increase that was built in and should have been declared in March wasn't declared until after the election. That's how bad it was going. During their time in office, we saw four gigawatts of capacity leave the grid and one gig go in. You talk about the old supply/demand a bit in an economics degree—if you go four gigs out and one gig in, do you have more energy or less energy? More or less? Do you think that has an impact— (Time expired)