LABOR’S RESERVATION MUST SECURE MORE GAS, MORE INVESTMENT, AND CHEAPER POWER
Hon Andrew Hastie MP
Deputy Leader in the House of Representatives
Shadow Minister for Industry and Sovereign Capability
Federal Member for Canning
Senator Susan McDonald
Shadow Minister for Resources
Shadow Minister for Northern Australia
Senator for Queensland
Hon Dan Tehan MP
Shadow Minister for Energy and Emissions Reduction
Federal Member for Wannon
The Coalition’s number one gas policy priority is more gas, for Australians, delivering cheaper power bills.
Today’s release of Labor’s draft domestic gas reservation policy provides a welcome opportunity for the Coalition to scrutinise critical domestic energy policy by a Government that has failed to deliver cheaper energy for Australians.
The Coalition will not stand in the way of delivering policy certainty for our resources sector. We will stand in the way of bad policy, and policy which does not support continued and growing investment in our resources sector.
Whilst we work through the exposure draft, we will continue to stand by the key criteria that this proposal must adhere to:
- Australian gas for Australians: Labor’s reservation must secure Australian gas for Australians;
- More gas, not less investment: Labor’s reservation must ensure that there is new gas production, both for domestic and LNG;
- More investment: Labor’s reservation must include a clear plan to demonstrate greater future gas investment;
- Honouring our commitments: Labor’s reservation must not impact existing contracts;
- Respect existing schemes: Labor’s reservation must recognise existing state and territory schemes;
- Lower prices through supply, not price controls: Labor’s reservation must support Australian domestic producers and Australian manufacturing, target domestic gas prices to the long-run marginal cost of production, whilst being competitive for customers;
- Strengthen emergency powers: Labor’s reservation must strengthen and reform the Australian Domestic Gas Security Mechanism (ADGSM) to ensure there are never gas shortfalls;
- Evidence based: Any reservation must have demonstrated research from Government agencies to support the principles above.
The Coalition has demonstrated by the passing the media bargaining code, NDIS reform and gambling advertising reform that we will work in the national interest to pass legislation. It will be up to the Albanese Labor government to see whether they want to work with us in the national interest when it comes to a domestic gas reservation scheme or whether they bow to the Greens.
Whilst we stand ready to work constructively with the Government to deliver more affordable, reliable energy for Australians, it remains clear that only the Coalition has a plan to fix the economy and protect our way of life.
ENDS