Electricity Prices

Mr VAN HOLST PELLEKAAN (Stuart) (14:45): A supplementary, sir: given the minister's answer, when will prices reduce and by how much?

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy) (14:45): Ultimately, my very strong view now is that the market is fundamentally broken and uncompetitive. You are seeing price rises across—

Members interjecting:

The Hon. A. KOUTSANTONIS: That's right. The National Electricity Market across the entire NEM is showing massive increases. You are seeing it, of course, in New South Wales and you are seeing it in Queensland. I shudder to think what will happen in Victoria in December when they do their calendar-year update of their price increases. It is important to note that our new competitor coming into the market, underwritten by our new procurement to try to bring new generation in, will ultimately lower prices. Again, I say to the opposition: why don’t we have a debate of ideas? Why don't we have a debate of policy? Why doesn't the opposition release its energy plan now, today, and let us have a debate?

The Hon. J.J. Snelling: They are more interested in GoPros.

The Hon. A. KOUTSANTONIS: I know that GoPros are a big issue, but why don't we have a debate? Why don't the shadow minister and I have a debate about energy policies? Why don't we talk about our different plans? Instead, all we have is shouting because, in the absence of policy, he thinks that the loudest person wins.