I welcome the release of AEMO’s 2022 integrated system plan (ISP) today.
This report builds on the significant work undertaken by the Coalition including major investments in the MarinusLink and HumeLink transmission projects with the latter plugging directly into another Coalition legacy – Snowy 2.0.
Despite Labor’s continued demonisation of gas, AEMO’s ISP clearly outlines the important and ongoing role which gas will play in Australia’s energy market through to 2050.
Chris Bowen has now had 5 weeks to share his plan for investment in reliable dispatchable energy generation and to get more gas out of the ground to support the increasing share of renewables as they enter the market.
Just like Labor’s plan for prices, there is no Labor plan for supply.
While further investments are necessary to achieve Australia’s bi-partisan goal of net zero by 2050, it is time that Labor comes clean with Australians about the cost of their plan and who will pay?
Already, Chris Bowen is walking back Labor’s core election promise of reducing energy bills by $275 by 2025.
It took considerable effort from the Coalition to reduce power bills by 8% for householdscand up to 12% for businesses when we were in government.
Australians expect nothing less than Labor delivering on its promise to cut power bills.
In light of AEMO’s report, what’s most concerning is that Labor’s election promise highlights their ignorance of Australia’s energy market and its relationship with power prices and the economy more broadly.
Labor may wish to gamble with Australia’s energy security, but at what cost and who pays?