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

I thank Senator Lambie for her question, and I will try and answer it in a couple of parts. The first is a general point about why it is needed. I will certainly see if there's anything further that can be provided, but the general proposition is that, after a decade of inaction and confused policy, we've seen dispatchable energy exit the market and new, reliable energy not enter the market. If you look at what the Australian Energy Market Operator has stated, we know that we have risks, particularly in Victoria and South Australia but also in other parts of the country, that the government is seeking to manage. That's after we saw so much private sector investment refuse to invest as a consequence of the uncertainty that those opposite presided over.

We do need to get more renewables in the grid. That will take pressure off bills, and it will also help protect Australians from volatile international prices. We are making billions of dollars of investment in ensuring Australia is a renewable energy superpower, and we are implementing overdue policy reform to deliver a cheaper, cleaner, more reliable energy system. For example, I'm advised that we are anticipating we will have 3.4 gigawatts more generation this summer than in the last summer.

In relation to Marinus Link, which was the first part of your question, this is an incredibly important project for Tasmania and Australia. It will reduce cost-of-living pressures for Tasmanians—