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| Labor presses for details of new Coalition energy policy – question time live | Labor presses for details of new Coalition energy policy – question time live |
| (35 minutes later) | |
| 4.54am BST | |
| 04:54 | |
| I’ll let the great Mike Bowers share this one | |
| Tony Abbott arrives late to #qt to cheers from opposition benches @AmyRemeikis @GuardianAus @murpharoo #politicslive pic.twitter.com/Vm7sFFPTCl | |
| 4.53am BST | |
| 04:53 | |
| It’s Julie Bishop’s turn to talk about how amazing the Neg is in a dixer. | |
| We then move on to Shorten once more, who handily lists out all the different positions Turnbull has held on energy. | |
| “Can the Prime Minister confirm that so far he has supported an emissions trading scheme and opposed it, supported an emissions intensity scheme and opposed it, ridiculed direct action and endorsed it, derided so-called clean coal and embraced it, supported a clean energy target and today abandoned it. When the member for Warringah is... calling the shots, how can anyone believe this Prime Minister says about lowering bills? | |
| The man who is now selling the National Energy Gurantee, or the N.E.G names all the experts who agree with the policy and bemoans those who embrace 3-letter acronym policies. | |
| What a pathetic question from the Leader of the Opposition. This is the Energy Security Board. Kerry Shott, AO chair and the deputy chair, both warmly welcomed by the member for Adelaide. The CEO of the Australian Energy Market Operator. Paula Convoy, chair of the Australian Energy Regulator. Apparently they’ve all been caught up in some sort of political conspiracy. Really, Mr Speaker, it’s about time the Leader of the Opposition recognised that his pathetic political games have failed. His slogans have failed. His embracing of one 3-letter acronym after the other without understanding what any of them mean has failed. What Australians want to see is action. They want to see leadership. They want to see policy. They want to see real expertise and they want to see real expertise and that is what we have received from the Energy Security Board.” | |
| 4.47am BST | |
| 04:47 | |
| Next up is Anthony Albanese: | |
| “So far today the PrimeMinister has refused to guarantee that prices will fall. Does that mean that the so-called National Energy Guarantee has no guarantee, no modelling and no regulatory impact statement? What is the point of a National Guarantee if the Prime Minister can, of a National Energy Guarantee if the Prime Minister cannot guarantee power price also go down?” | |
| Not sure if the regulatory impact statement whereabouts will capture the heart and minds of voters, but we move on to the prime minister. Who does not answer the question, but has a lot of fun doing it. | |
| “I’ve never seen anyone so bereft of a feather to fly with than the Leader of the Opposition he doesn’t have a policy. He has nothing. Just a bunch of whines and complaints. He has no plan for Australia’s energy future at all. That’s other than, if you assume that all of us intend the necessary consequence of our actions, then this is what he intends - he intends more blackouts.He higher prices. He intends less reliability, because that is what his policies have all delivered in the past.” | |
| 4.43am BST | |
| 04:43 | |
| Barnaby Joyce is called to the floor by the member for Wide Bay, and it has to be said, Joyce isn’t as excited to call out basket weavers as he usually is. His heart doesn’t appear to be entirely in it. Still, he gives it a red hot go. | |
| “We on this side believe the people working in a rail company are not politically incorrect, people who have blue-collar jobs are not politically incorrect. We believe they still deserve a job. We understand you will have cheap power, cheap wages or no jobs. We will make sure that people maintain their jobs in the manufacturing industry. We know that so far the Labor Party have come up with one thing. They’ve come up and they - their biggest attack point is they say, where is your regulatory impact statement? | |
| “Well that is it. Can’t you imagine them at the Manic Monkey Cafe, where Dewdrop is talking to Moonbeam and says the Coalition doesn’t have a regulatory impact statement. That is about their concern - the extent of their concerns for blue-collar jobs. | |
| We have $66 billion reasons to make sure that those people who are doing it tough do not get the Labor Party bill, the Labor Party bill, because the Labor party bill makes people poorer. There’s no doubt about it. A Labor Party bill will make you poorer. If you’re doing it tough in the Hunter Valley, a Labor Party bill will make you poorer. If you’re doing it tough in Shortland, a Labor Party bill will make you poorer. Without a shadow of a doubt, the Labor Party is now run by those with a philosophical ilk of the Manic Monkey Cafe, basket-weaver number one. All their friends running a power policy that will drive blue-collar workers out of a job. | |
| “You can see it in Queensland. The new mantle of the dearest -- you can see it in Queensland. Queensland Labor beat South Australian Labor as the most effective power policy to put you out of a job. We have brought forward a policy that shows we’re not scared of coal-fired power. We will make sure that it still remains in the mix. We will make sure there is the capacity of baseload -- the capacity of base load power to keep people in their jobs. | |
| “We stand by blue-collar workers,something which Labor has given upon. They have no soul they had under Curtin. They no longer believe in the people they were put here to represent. | |
| “They turn their back on the working class people every day, every day - they turn their back on the working class people and they look towards the basket weavers. They face them and they take their dollar.” | |
| 4.37am BST | |
| 04:37 | |
| Paul Karp | |
| In the Senate... | |
| The Greens leader, Richard Di Natale, has offered a string of questions to the attorney general, George Brandis, about the National Energy Guarantee. Di Natale accused Malcolm Turnbull of “leading the most pro coal, anti renewables party in this nation’s history” and “a capitulation to Tony Abbott and the far right of his party”. | |
| Brandis responded: “The share of renewable will increase to 28-36% of the energy mix. It will increase. And the share of coal and gas will reduce. So the premise of the question is wrong. This is what grown-up governments do: they listen to advice of experts.” | |
| Di Natale also suggested the coal and gas industry have “cashed their cheque” with the Coalition government and asked Brandis if he accepted that coal kills people. | |
| Brandis: “No I don’t accept that for one moment. On any view coal will be an important part of the energy mix for decades to come.” | |
| Brandis accused the Greens of “undergraduate stunts” and “impugning the motives of the prime minister”, while suggesting Di Natale was a wealthy doctor who could afford to signal his virtue on energy sources because he could afford renewable energy. | |
| Updated | |
| at 4.54am BST | |
| 4.37am BST | |
| 04:37 | |
| Bowen is back with a question for the treasurer regarding the regulatory impact statement and whether it exists. | |
| Morrison gives us a history lesson. | |
| “The cabinet submission is consistent with the handbook and the requirements of the process. I could ask that the shadow treasurer when he introduced Cash for Clunkers, what was the regulatory impact statement on that? What was the impact statement on being the worst immigration minister in the history of the Australian federation, Mr Speaker? That’s 50,000 people, half of them who turned up on his own watch, and $11.6m in blow-outs of expenditure created on his watch. Did he put that in the cabinet submission when he went in there and he for his failed policies – we should approve this because we will blow out the cost by $11.6 billion and see thousands die at sea.” | |
| Tony Burke interjects to say if the statement doesn’t exist, he should just say so, but Burke is not the boss of Morrison and can not make him answer questions. | |
| Updated | |
| at 4.53am BST | |
| 4.33am BST | |
| 04:33 | |
| The member for Gilmore, Ann Sudamalis, is quite pleased to ask Frydenberg about how the government will deliver “affordable, reliable supply of energy across the nation”. | |
| Frydenberg is not only happy to tell Sudamalis how the government will deliver affordable, reliable and secure energy across the nation, he even decides to tell her how Labor will not. | |
| “They’ve done nothing in government to cut the retailer costs and did nothing in government to heed the warnings about increasing gas exports. No wonder the power bills increased by more than 100% when Labor were in office. We know, Mr Speaker, when it comes to the leader of the opposition, don’t listen to what he says, but watch what he does. He said he was in favour of a better deal for education but he voted against the Gonski reforms. He said he was in favour of lowering company taxes but he voted against our reforms. He said he was in favour of better childcare benefits but he tried to stop our reforms. And now he says he’s in favour of greater investment, certainty in the energy sector. Well, this is a test of his ticker, Mr Speaker. In is a test of the leader of the opposition’s ticker. Will he stand up for Australian families? Will he follow the advice of the experts? Will he adopt a bipartisan approach to ensure that power bills for millions of Australian families are lower and that we get the investment certainty in the energy sector … ” | |
| Sadly he runs out of time. | |
| Updated | |
| at 4.36am BST | |
| 4.29am BST | |
| 04:29 | |
| Stop the presses. Or at least help me up off the floor. A question has been all but answered during question time. | |
| Denison MP Andrew Wilkie has the crossbench question today and he uses it to ask about the TPI Federation, which helps support permanently injured veterans. | |
| “The TPI Federation has written here repeatedly seeking a resolution to the dreadful situation whereabout 28,000 totally and permanently incapacitated veterans have seen their economic loss compensation fall to just 65% of the minimum wage. Prime minister, given the gravity of this issue, and the Parliamentary Budget Office’s validation of the independent analysis supporting the claim by the TPI, will you take personal responsibility and intervene to facilitate an immediate increase of $176 a week in the economic loss compensation payments to Australia’s TPI veterans?” | |
| Malcolm Turnbull tells the House he has a personal connection to the TPI Federation. | |
| I thank the honourable member for his question. Mr Speaker, my grandfather was a member of the TPI Federation. I know, well, the work of the federation and respect the advocacy they provide, and particularly that of TPI president Pat McCabe. All Australians are immensely proud of our men and women in uniform. We thank them for their service and we owe them a debt we can never repay. Ensuring our veterans have adequate support and compensation is a vitally important role of government. It is one to which I am personally deeply committed. In gratitude for their service, the government provides $12bn annually in pensions and services to veterans and their families. We best honour the diggers of 1917 by providing the best support in every respect to the servicemen and women and the veterans and their families of 2017. The honourable member raised the TPI pension in relation to the minimum wage. I can advise the member that the TPI pension is $1,73.80 a fortnight. I’m advised that more than 80% of TPI recipients receive income support payments, known as the service pension, of up to $894.40 per fortnight. It is important to recognise the TPI pension is part of a package of benefits available to veterans which can also include additional income support payments and medical coverage for all health conditions through their Gold Card. Now, in recognition of this important issue, I’ve asked the minister for veterans’ affairs to work with his department and the TPI Federation to analyse the basis of the federation’s research and the data used in it. And I want to thank the honourable member for raising these important issues and for the TPI Federation’s ongoing role in representing the interests of Australia’s veterans. Now, Mr Speaker, my government will always do the right thing by our veterans. I recognise there are various components to these entitlements and compensation. But unless – I’m less interested in the definitional distinctions that and as a former serving officer would have a keen insight into, than making sure veterans have the support they need and making sure that they have financial support appropriate with their service. If they need medical support and treatment that it is provided. If they need psychological support for mental illness, it is provided, too. I can assure the honourable member and all our veterans that my government is committed to them, just as they were committed to our nation in their days in uniform.” | |
| Updated | |
| at 4.32am BST | |
| 4.22am BST | |
| 04:22 | |
| David Coleman gives the government another opportunity to talk about how amazing the amazing Neg is. | |
| Scott Morrison very happily takes the floor | |
| Labor have given up on reliability … all in the name of putting subsidies before idol of their own ideology. But on top of that they say that the CET will deliver certainty. I’m pleased to quote the chief executive of the Business Council of Australia who said today: “The National Energy Guarantee will provide more certainty than the clean energy target. The government plan has great potential to deliver affordable, reliable power, reduce emissions and boost market confidence and we are looking forward to the further work.” This government has a plan for reliable, affordable energy that delivers on our environmental obligations. The Labor party has a plan for a electricity bill of – an electricity bill of $66bn on families and business.” | |
| Updated | |
| at 4.25am BST | |
| 4.18am BST | 4.18am BST |
| 04:18 | 04:18 |
| Paul Karp | Paul Karp |
| The Australian Bureau of Statistics has released its latest estimate that 10.8m Australians have voted in the marriage law survey, or 67.5% of enrolled voters, as at Friday 13 October. | |
| The first ABS turnout figure two weeks ago revealed 57.5% of Australians had voted as of 29 September. The result was heralded by the Equality Campaign as very promising, and the acting special minister of state, Mathias Cormann, said the postal survey was headed for a very credible turnout. | |
| The figure crept up by 5% last week to 62.5%, meaning it has increased 5% for each of the last two weeks. Voting closes on 7 November and the result will be announced on 15 November. | |
| Fantastic news that 67.5% of #SSM survey forms had been returned as of October 13 #VoteYes #PostYourYes #MarriageEquality #auspol pic.twitter.com/h5rCecVKZW | Fantastic news that 67.5% of #SSM survey forms had been returned as of October 13 #VoteYes #PostYourYes #MarriageEquality #auspol pic.twitter.com/h5rCecVKZW |
| Updated | Updated |
| at 4.21am BST | |
| 4.18am BST | 4.18am BST |
| 04:18 | 04:18 |
| Mark Butler has a question for Frydenberg. | Mark Butler has a question for Frydenberg. |
| Can the energy minister gets through a question time without using his “inconvenient truth” joke? These are the questions which plague mankind. | Can the energy minister gets through a question time without using his “inconvenient truth” joke? These are the questions which plague mankind. |
| Butler wants to know about the modelling. And whether the government has any. | Butler wants to know about the modelling. And whether the government has any. |
| “Can I confirm to the house that the Energy Security Board, made up of the Australian Energy Regulator, the Australian Energy Market Operator, and the Australian Energy Market Commission have written to the government and outlined that on the basis of their analysis that prices will fall for an average household $100-115.” | |
| Updated | |
| at 4.20am BST | |
| 4.14am BST | 4.14am BST |
| 04:14 | 04:14 |
| Annnnnnd Linda Burney has been removed | Annnnnnd Linda Burney has been removed |
| 4.12am BST | 4.12am BST |
| 04:12 | 04:12 |
| Meanwhile, outside the chamber … | |
| Govt announcement an important step, keen to work together to make it work. With bipartisan support, it will provide investment certainty | Govt announcement an important step, keen to work together to make it work. With bipartisan support, it will provide investment certainty |
| Updated | |
| at 4.20am BST | |
| 4.12am BST | 4.12am BST |
| 04:12 | 04:12 |
| Jason Wood, the member for La Trobe has the first Dixer and is reading it like it is the first time he has seen words put together in that particular order. | Jason Wood, the member for La Trobe has the first Dixer and is reading it like it is the first time he has seen words put together in that particular order. |
| “Will the prime minister advise the house how the government’s National Energy Guarantee will guarantee reliability, ease power bills and reduce emissions for hardworking Australian families and businesses including in my electorate of La Trobe. What would be the impact of alternative approaches?” | “Will the prime minister advise the house how the government’s National Energy Guarantee will guarantee reliability, ease power bills and reduce emissions for hardworking Australian families and businesses including in my electorate of La Trobe. What would be the impact of alternative approaches?” |
| There would be so much impact from those alternative approaches the prime minister can almost not get the words out. He uses a lot of the answer we heard earlier in the response, with a couple of extra attacks: | There would be so much impact from those alternative approaches the prime minister can almost not get the words out. He uses a lot of the answer we heard earlier in the response, with a couple of extra attacks: |
| We all know very well what the impact of Labor’s policies have been. What we have seen is unaffordable power and unreliable power. We’ve just come from a press conference where the energy market operator has described how she has to intervene again and again in the South Australian market to keep the lights on. That’s because of the instability in that market created by the force-feeding of masses of intermittent renewables like wind without any regard for stability or back-up or storage. What we’ve seen with the Labor party’s approach to energy has been a triumph of ideology over good sense. What we need now is the engineering and the economics. That guides our energy policy and we have seen the work of engineers and economists on the energy security board with their recommendations.” | We all know very well what the impact of Labor’s policies have been. What we have seen is unaffordable power and unreliable power. We’ve just come from a press conference where the energy market operator has described how she has to intervene again and again in the South Australian market to keep the lights on. That’s because of the instability in that market created by the force-feeding of masses of intermittent renewables like wind without any regard for stability or back-up or storage. What we’ve seen with the Labor party’s approach to energy has been a triumph of ideology over good sense. What we need now is the engineering and the economics. That guides our energy policy and we have seen the work of engineers and economists on the energy security board with their recommendations.” |
| Updated | Updated |
| at 4.19am BST | at 4.19am BST |
| 4.08am BST | 4.08am BST |
| 04:08 | 04:08 |
| Bill Shorten opens with an easy one. | Bill Shorten opens with an easy one. |
| “My question is for the prime minister. When can the prime minister guarantee Australians that the cost of their power bills will go down?” | “My question is for the prime minister. When can the prime minister guarantee Australians that the cost of their power bills will go down?” |
| Already the warnings have started. Tim Wilson is warned. Josh Frydenberg has been told to pipe down. We are not even 60 seconds in. Someone should do more to lock up the vending machines before QT, because this sugar high can go nowhere good. | Already the warnings have started. Tim Wilson is warned. Josh Frydenberg has been told to pipe down. We are not even 60 seconds in. Someone should do more to lock up the vending machines before QT, because this sugar high can go nowhere good. |
| Malcolm Turnbull starts with an attack and does his best not to peacock around the despatch box. | Malcolm Turnbull starts with an attack and does his best not to peacock around the despatch box. |
| If the leader of the opposition is to be taken at his word, his renewable energy objective would result in a $66bn subsidy. [A] $66bn subsidy. That would be imposed on Australian families. A subsidy that is completely unnecessary. A subsidy which is effectively industry policy, pouring billions in additional costs on to Australian families. That is what – that is his policy. What we’re doing is committed to ensuring that our energy policy delivers affordable, reliable power and that we meet our international commitments. And we’ve just seen, we’ve just seen, we’re taking up the recommendations of the Energy and Security Board. The members of that were applauded by the member for Port Adelaide. He welcomed them. | If the leader of the opposition is to be taken at his word, his renewable energy objective would result in a $66bn subsidy. [A] $66bn subsidy. That would be imposed on Australian families. A subsidy that is completely unnecessary. A subsidy which is effectively industry policy, pouring billions in additional costs on to Australian families. That is what – that is his policy. What we’re doing is committed to ensuring that our energy policy delivers affordable, reliable power and that we meet our international commitments. And we’ve just seen, we’ve just seen, we’re taking up the recommendations of the Energy and Security Board. The members of that were applauded by the member for Port Adelaide. He welcomed them. |
| “The leader of the opposition will have to reflect on the expert advice of the Energy and Security Board. This is someone who has called for bipartisanship in energy policy. That’s what he’s called for. What we have is a recommendation from an expert board, appointed by Coag, appointed by more Labor governments than Coalition governments. This is what they’ve said in their formal advice, ‘It’s expected that following the guarantee could lead to a reduction in residential bills in the order of$15-115 per annum over the 2020-30 period, wholesale prices are expected to decline by 20-25% per annum over the same period. Compared to the clean energy target as specified in the Finkel review, this guarantee could be expected to lead to wholesale prices that are on average 8-10% lower under that period.’ | “The leader of the opposition will have to reflect on the expert advice of the Energy and Security Board. This is someone who has called for bipartisanship in energy policy. That’s what he’s called for. What we have is a recommendation from an expert board, appointed by Coag, appointed by more Labor governments than Coalition governments. This is what they’ve said in their formal advice, ‘It’s expected that following the guarantee could lead to a reduction in residential bills in the order of$15-115 per annum over the 2020-30 period, wholesale prices are expected to decline by 20-25% per annum over the same period. Compared to the clean energy target as specified in the Finkel review, this guarantee could be expected to lead to wholesale prices that are on average 8-10% lower under that period.’ |
| “Now, Mr Speaker, we have arranged for the opposition to have a briefing from the Energy Security Board. We look forward to them getting fully briefed. We them to get on board and adopt this we encourage them to get on board and adopt this expert recommendation that for the first time will level the playing field, end the subsidies, end the taxes, ensure that we have, ensure that we have a genuinely technology-agnostic energy market that enables us to have energy that is affordable, reliable and responsible. That is what Labor should support. Stop the nonsense about their claimed bipartisanship and get real and get on board with the plan that guarantees Australia’s energy future.” | “Now, Mr Speaker, we have arranged for the opposition to have a briefing from the Energy Security Board. We look forward to them getting fully briefed. We them to get on board and adopt this we encourage them to get on board and adopt this expert recommendation that for the first time will level the playing field, end the subsidies, end the taxes, ensure that we have, ensure that we have a genuinely technology-agnostic energy market that enables us to have energy that is affordable, reliable and responsible. That is what Labor should support. Stop the nonsense about their claimed bipartisanship and get real and get on board with the plan that guarantees Australia’s energy future.” |
| Updated | Updated |
| at 4.11am BST | at 4.11am BST |
| 4.01am BST | 4.01am BST |
| 04:01 | 04:01 |
| Straight into question time | Straight into question time |
| Katharine Murphy will have a full report on the ins and outs of what is happening with the Neg and what legislation, if any, will be needed. | Katharine Murphy will have a full report on the ins and outs of what is happening with the Neg and what legislation, if any, will be needed. |
| But first, we head to question time. Energy, is an obvious one, and I am sure, based on yesterday’s performance, we’ll hear a bit more on the NBN. Other topics? Take a guess below. | But first, we head to question time. Energy, is an obvious one, and I am sure, based on yesterday’s performance, we’ll hear a bit more on the NBN. Other topics? Take a guess below. |
| Updated | Updated |
| at 4.11am BST | at 4.11am BST |
| 3.55am BST | 3.55am BST |
| 03:55 | 03:55 |
| This press conference has no fewer than six people sitting behind the desk. But it only looks like two flags. Disappointing. | This press conference has no fewer than six people sitting behind the desk. But it only looks like two flags. Disappointing. |
| Asked about the cost reduction of electricity bills from $110 to $115 (which doesn’t start until 20202) Frydenberg had this to say: | Asked about the cost reduction of electricity bills from $110 to $115 (which doesn’t start until 20202) Frydenberg had this to say: |
| So off the back of this work, the commonwealth government will be asking the AMC to do detailed analysis and modelling of this specific proposal in the lead-up to the discussions at Coag where we would provide, if you like, firmer estimates of those price effects. The price numbers you’re referring to are based off, if you like, analysis and modelling of the market and the alternative schemes that we’ve looked at in the past. It is an average over the 10 years. The more detailed work will give a profile. The things that are driving it are basically three things. The reduction in uncertainty, that the minister referred to. And the unlocking of investment and hence increases in supply, and that’s quite an important component. The second driver, or reason you’d expect pries to be lower is that the mechanism uses existing market processes, existing market contracts, so people have more options available to them about how they meet these obligations. And thirdly, I would expect that the higher levels of contracting that this mechanism will bring about will lower barriers to entry and improve competition, both at the generation and the retail level. | So off the back of this work, the commonwealth government will be asking the AMC to do detailed analysis and modelling of this specific proposal in the lead-up to the discussions at Coag where we would provide, if you like, firmer estimates of those price effects. The price numbers you’re referring to are based off, if you like, analysis and modelling of the market and the alternative schemes that we’ve looked at in the past. It is an average over the 10 years. The more detailed work will give a profile. The things that are driving it are basically three things. The reduction in uncertainty, that the minister referred to. And the unlocking of investment and hence increases in supply, and that’s quite an important component. The second driver, or reason you’d expect pries to be lower is that the mechanism uses existing market processes, existing market contracts, so people have more options available to them about how they meet these obligations. And thirdly, I would expect that the higher levels of contracting that this mechanism will bring about will lower barriers to entry and improve competition, both at the generation and the retail level. |
| Updated | Updated |
| at 4.13am BST | at 4.13am BST |
| 3.40am BST | 3.40am BST |
| 03:40 | 03:40 |
| Malcolm Turnbull and Josh Frydenberg have released a joint press statement: | Malcolm Turnbull and Josh Frydenberg have released a joint press statement: |
| The Turnbull Government will accept the recommendation of the Energy Security Board (ESB) for a new National Energy Guarantee to deliver more affordable and reliable electricity while meeting our international commitments. | The Turnbull Government will accept the recommendation of the Energy Security Board (ESB) for a new National Energy Guarantee to deliver more affordable and reliable electricity while meeting our international commitments. |
| As our energy system transitions, we must ensure households and businesses have access to affordable and reliable power. | As our energy system transitions, we must ensure households and businesses have access to affordable and reliable power. |
| The independent Energy Security Board advises the guarantee will give certainty to investors and therefore encourage investment in all forms of power. This means electricity bills will be lower than currently forecast and lower than they would have been under a clean energy target. | The independent Energy Security Board advises the guarantee will give certainty to investors and therefore encourage investment in all forms of power. This means electricity bills will be lower than currently forecast and lower than they would have been under a clean energy target. |
| The Energy Security Board estimates typical household bills will fall by an average of $110-$115 per year over the 2020-2030 period. | The Energy Security Board estimates typical household bills will fall by an average of $110-$115 per year over the 2020-2030 period. |
| The guarantee is made up of two parts that will require energy retailers across the National Electricity Market to deliver reliable and lower emissions generation each year. | The guarantee is made up of two parts that will require energy retailers across the National Electricity Market to deliver reliable and lower emissions generation each year. |
| A reliability guarantee will be set to deliver the right level of dispatchable energy (from ready-to-use sources such as coal, gas, pumped hydro and batteries) needed in each state. It will be set by the Australian Energy Market Commission (AEMC) and Australian Energy Market Operator (Aemo). | A reliability guarantee will be set to deliver the right level of dispatchable energy (from ready-to-use sources such as coal, gas, pumped hydro and batteries) needed in each state. It will be set by the Australian Energy Market Commission (AEMC) and Australian Energy Market Operator (Aemo). |
| An emissions guarantee will be set to contribute to Australia’s international commitments. The level of the guarantee will be determined by the commonwealth and enforced by the Australian Energy Regulator (AER). | An emissions guarantee will be set to contribute to Australia’s international commitments. The level of the guarantee will be determined by the commonwealth and enforced by the Australian Energy Regulator (AER). |
| Past energy plans have subsidised some industries, punished others and slugged consumers. The Turnbull government will take a different approach. | Past energy plans have subsidised some industries, punished others and slugged consumers. The Turnbull government will take a different approach. |
| The National Energy Guarantee will lower electricity prices, make the system more reliable, encourage the right investment and reduce emissions without subsidies, taxes or trading schemes. It is truly technology-neutral, offering a future for investment in whatever technology the market needs – solar, wind, coal, gas, batteries or pumped storage. | The National Energy Guarantee will lower electricity prices, make the system more reliable, encourage the right investment and reduce emissions without subsidies, taxes or trading schemes. It is truly technology-neutral, offering a future for investment in whatever technology the market needs – solar, wind, coal, gas, batteries or pumped storage. |
| Unlike previous approaches, we are not picking winners, we are levelling the playing field. Coal, gas, hydro and biomass will be rewarded for their dispatchability while wind, solar and hydro will be recognised as lower emissions technologies but will no longer be subsidised. | Unlike previous approaches, we are not picking winners, we are levelling the playing field. Coal, gas, hydro and biomass will be rewarded for their dispatchability while wind, solar and hydro will be recognised as lower emissions technologies but will no longer be subsidised. |
| Importantly, this plan builds on the Finkel review, which recommended the creation of the ESB that has now recommended the National Energy Guarantee. | Importantly, this plan builds on the Finkel review, which recommended the creation of the ESB that has now recommended the National Energy Guarantee. |
| The government will now work with the ESB and the states through Coag to implement the National Energy Guarantee. | The government will now work with the ESB and the states through Coag to implement the National Energy Guarantee. |
| As well as delivering a better deal for households, the plan will support business, particularly emissions intensive, trade exposed firms. | As well as delivering a better deal for households, the plan will support business, particularly emissions intensive, trade exposed firms. |
| The guarantee builds on our existing energy policy which involves the retailers offering consumers a better deal, stopping the networks gaming the system, delivering more gas for Australians before it’s shipped offshore and the commencement of Snowy Hydro 2.0 to stabilise the system. | The guarantee builds on our existing energy policy which involves the retailers offering consumers a better deal, stopping the networks gaming the system, delivering more gas for Australians before it’s shipped offshore and the commencement of Snowy Hydro 2.0 to stabilise the system. |
| We now have an opportunity to break from the climate wars of the past and forge a sensible, sustainable path forward. | We now have an opportunity to break from the climate wars of the past and forge a sensible, sustainable path forward. |
| Updated | Updated |
| at 4.15am BST | at 4.15am BST |