I want to thank Honourable Members and Senators for returning to Parliament today, to vote on our plan for Energy Price Relief for:
- Australian industry and business
- Australian manufacturing
- Australian jobs
- And Australian families.
This legislation is important - and it is urgent.
Because after a wasted decade of denial and delay…
After a wasted decade of neglecting the national energy grid and attacking renewables…
After a wasted decade:
- That cost Australia jobs
- Robbed us of investment
- Damaged our international reputation
- And left us vulnerable to global shocks
After this wasted decade, there is not a day to waste when it comes to securing more affordable and reliable energy for Australia.
Last Friday, at National Cabinet, every Premier and Chief Minister signed up to the four key measures in this plan, including the New South Wales Premier, Dominic Perrottet, and Premier Rockliff of Tasmania. And I thank all of the Premiers for their support. The four key measures are:
One: A temporary cap on the price of uncontracted gas at $12 a gigajoule for 12 months.
Two: a 12-month price ceiling on domestic coal of $125 per tonne in New South Wales and Queensland, which Premier Perrottet, when I spoke to him last night, indicated that New South Wales will recall their Parliament next week to legislate.
Three: $1.5 billion in targeted bill relief for businesses and households most in need.
Delivered through measures to reduce bills in order to put downward pressure on inflation.
And Four: long term action to secure our energy future, including the new Capacity Investment Scheme…
…and the continuing roll-out of projects under our Rewiring the Nation Fund.
Mr Speaker,
This plan is a combination of immediate action – but also future reform.
It recognises the challenge of the here and now, as a result of Russia's illegal invasion of Ukraine.
We need to act now, though, to deal with this crisis, to keep Australians in work, to support families, but also to look to the medium-term to make sure we do secure our energy future.
And that is what we will be doing.
Making sure we get the cheapest and cleanest form of energy – renewable energy – to be able to power into the grid through the projects that we announced and will continue to announce around Rewiring the Nation.
Together with the National Reconstruction Fund, this is about also making sure we can makes things here again.
Mr Speaker,
Apparently, those opposite want us to have acted quicker, but also want us to be slower at the same time.
Having had 22 policies in Government, but not landing one of them, they now want us to have no policy also.
They were addicted to power – but hopeless on energy.
They rushed around passing legislation about strawberries – laws that have never been used – but did nothing to help people with their power bills.
The only time they acted with urgency was to cover-up the 20 per cent increase in power prices and to keep it a secret until after the election.
And now they are seeking to stand in the way of this urgent action because they imagine that somehow it serves their political agenda.
Well, the choice for this Parliament today is very clear.
Vote for this plan – and vote for lower prices.
Or vote against it – and vote for higher prices.
Vote for this plan – and stand up for jobs, industry and households.
Or vote against it – and stand with them, with companies banking record profits and sending them offshore.
That is the choice.
Vote for this plan – and be part of the solution.
Or vote against it - and be part of the problem.
The Opposition will be held to account for their decision.
We know where we stand.
We stand for Australian manufacturing.
And we stand for Australian households.
And this legislation will support both.
That's what this Bill will do.
Those opposite failed in Government over a decade to deliver a coherent energy policy.
We on this side of the House are acting with urgency to deal with the challenge which is there.
And that is why it has the support of every Premier and Chief Minister and why it has the support not just of the Labor Party, but I thank those in the Crossbench who are providing their support.