Jacqui Lambie (Tasmania, Jacqui Lambie Network) Share this | Link to this | Hansard source

My question is for the Minister representing the Minister for Climate Change and Energy. The Tasmanian government has cut a new deal with the federal government on the Marinus Link, a new underwater electricity link between Tasmania and Victoria. The cost of the project has blown out to over $5 billion. When Minister Bowen announced that the Australian government is now taking 50 per cent of the equity in the proposed Marinus Link, he is reported to have said:

… all the expert analysis and evidence I've seen supports this project being built.

Will the minister commit to releasing all the expert analysis and evidence upon which he based his decision?

Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Link to 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—

Sue Lines (President) Share this | Link to this | Hansard source

I beg your pardon, Minister Wong. Senator Lambie on a point of order?

Jacqui Lambie (Tasmania, Jacqui Lambie Network) Share this | Link to this | Hansard source

I think the question was whether or not they intend to release the expert analysis and evidence upon which the decision was based. It's a pretty simple question; it's either yes or no.

Sue Lines (President) Share this | Link to this | Hansard source

There was also the preamble, Senator Lambie. I'm happy to draw the minister to the second part of your question, but the minister is entitled to answer the whole question.

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

I apologise, Senator Lambie; I thought you were talking about the general proposition, but, if it's in relation to the Marinus Link economic analysis, I will take advice upon that. It is the case that the stage 1 project is projected to deliver economic stimulus to Tasmania— (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Lambie, your first supplementary.

Jacqui Lambie (Tasmania, Jacqui Lambie Network) Share this | Link to this | Hansard source

According to reports, the Tasmanian government has said the original proposal for two cables has been scrapped in favour of just one cable. This was done to reduce the cost of the project. Experts tell me one cable cuts the capacity of the link, undermining its potential for enhanced energy security. Can the minister explain how cutting this project in half will bring the same level of enhanced energy security and redundancy?

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

(—) (): Obviously, the government have to look at the cost of the project very carefully and ensure that we deliver the best outcome for taxpayers that we can. The reality is that this is a project competing in a global market. We have very constrained supply chains, and we have inflationary pressures around the world, and those are affecting all major energy and infrastructure projects globally. So it is the case that we have announced that the project will focus on delivering the first cable, with discussions to continue on the second cable to be considered after cable 1 investment has been determined. As I said, even only one cable will deliver. I am advised that IEMO has said that cable 1 will deliver close to two-thirds of the total benefit of the whole project, and even with this cost increase— (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Lambie, a second supplementary?

Jacqui Lambie (Tasmania, Jacqui Lambie Network) Share this | Link to this | Hansard source

Recent news reports suggest that Victoria, with its new wind farms and battery storage investments, are going cold on this project. Has the minister received a solid commitment from the Victorian government that they will share the cost of building the Marinus Link with Tasmania and the federal government?

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

I will get advice about what I can provide you in relation to funding arrangements. What I can say is this is a project that the Australian government is committed to delivering. It's a project that will deliver, as I said, economic benefit to Tasmania as well as to Victoria and, as importantly, it will improve reliability. It will provide reliability in the National Electricity Market. We would see better utilisation of existing Tasmanian generation and we would see additional security for Tasmania, providing important redundancy for the Basslink Interconnector. In relation to the funding arrangements, I have some knowledge. I need to check with the minister what can be provided in the public context and I will do so.