Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Sterle for that question. All of the advice to government makes it very clear that the cheapest form of new energy is firmed renewables—that's right; that upward pressure on electricity is overwhelmingly due to ageing fossil fuel assets; and that, if we don't have an orderly transition to the renewable energy future, it means higher prices for households, higher prices for business, fewer jobs and less business investment. Those opposite, the party of the free market—as Senator Bragg so eloquently put it in one of his 3,000 interviews this week: 'Well, the debate is over. The capital markets have made up their minds here. There is a wall of money going to renewable energy.' Where has the party of free markets gone to? (Time expired)