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

Thank you, Senator. I don't have a monthly breakdown of what has occurred in terms of renewables since we came to government. But what I can say to you is that we have invested $22.5 billion to, over the next decade, help make Australia a renewable energy superpower. We have a budgeted plan that is backed by the experts at AEMO, the Australian Energy Market Operator. They have an Integrated System Plan that looks at the total cost, out to 2050, of generation, storage and transmission of renewable energy, which the government is working to and is contributing to.

I would also make the point, Senator—and you do understand markets—that the uncertainty under the coalition meant that 24 out of 28 coal-fired power stations announced their closure. We did not have new investment to replace them at the scale needed, and that is because the market knew that, with 20-plus energy policies, there was no certainty to enable investment in additional generation and supply. If we want to bring prices down and ensure reliability, we have to have more supply.