Wednesday, 23 November 2022
Questions without Notice
My question goes to the Prime Minister. Prime Minister, the Alex Surf Club on the beautiful Sunshine Coast, of which I am a proud member, will be forced to pay $250,000 more for electricity next year compared to this year. When can the Alex Surf club see the promised $275 cut to their power bills?
Honourable members interjecting—
It's the Alexandra Heads surf club. We did a press conference there. See, I know Queensland! Alexandra Heads is different from Maroochydore. Two different events, two different places—a bit like Yeppoon and Yeppoon. I ask the Minister for Energy to respond.
Opposition members interjecting—
Honourable members opposite interject. The shadow treasurer interjects. He had a different view prior to the election. Prior to the election he was asked about Ukraine and what does it mean for the world's gas supply. The member for Hume said that obviously it's putting upward pressure on oil and gas prices around the world. That's what he said. Then we also had the other energy minister in the government, who said 'In the last 12 months we have seen Russia invade Ukraine, and to think that's not going to have an impact, particularly on energy prices and supply chains and disrupt the economy, would be unfair. I don't think that would be realistic.' That was the other energy minister, who was also the Prime Minister, the member for Cook. I'm not sure in what capacity he was talking, but that was his view. He was actually correct.
We understand the impact on the surf club. We understand the impact on residents. We understand the impact on industry. That is why we will not stand by and watch this play out. We will not stand by and watch the fact that thermal coal was selling at $286 a tonne in December 2021 and is now selling at $505.15 a tonne. That's going to flow through unless the government takes action. Gas was selling for $11.56 a gigajoule in December. Today it is $18.67. This is what is driving the energy price rises right around the world, as the International Energy Agency have made clear. They said just last week that 90 per cent of the—
upward pressure on electricity costs around the world is coming from fossil fuels—coal and gas. That's what the International Energy Agency says. So of course governments around the world—conservative and left-leaning, governments all around the world—are dealing with this crisis and responding, just as this government is assiduously working through the issues and will respond and will not stand by and let this impact on Australian households and businesses.