Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Hansard source

I think there is no doubt we all know that Australians are grappling with the impact of rising energy costs—Australian households, Australian business, Australian industry. Those opposite might like to push this aside, but the world is dealing with the most significant shock to energy markets in 50 years due to Russia's prolonged attack on Ukraine. Russia's willingness to weaponise energy has caused havoc in global markets, and it has sent coal and gas prices through the roof. Domestically, what else are we dealing with? A decade of denial and chaos in energy policy which saw four gigawatts of dispatchable energy exit the system. Guess how many gigawatts came in under you? One. Not only have we got a global economic shock and a global shock to energy markets but we are dealing with a decade in which you ensured that supply exited the market. That's the reality.