Senate debates

Wednesday, 26 October 2022

Regulations and Determinations

Industry Research and Development (Underwriting New Generation Investments Program) Instrument 2021; Disallowance

3:38 pm

Photo of Jonathon DuniamJonathon Duniam (Tasmania, Liberal Party, Shadow Minister for Environment, Fisheries and Forestry) Share this | Hansard source

Australian households are hurting, with high energy bills and rising interest rates. Electricity and gas prices will rise by something like 50 per cent in 2023. The Australian Energy Regulator has warned that energy prices will remain high for years, driven by generator closures and a looming shortfall in gas supply, and Labor has already broken its $275 lower energy bill election promise. It does not have a plan for new, reliable 24/7 energy generation.

The Underwriting New Generation Investments Program is essential to keep delivering the dispatchable energy generation Australia requires to keep the lights on and the pressure on prices.


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