Electricity Prices

Mr PATTERSON (Morphett) (14:59): My question is for the Minister for Energy and Mining. Does the minister agree with the federal Labor opposition's claim that its Powering Australia plan will cut South Australian electricity bills by $275 by the year 2025?

The Hon. A. KOUTSANTONIS (West Torrens—Minister for Infrastructure and Transport, Minister for Energy and Mining) (15:00): I believe them more than the opposition's promise to cut power prices by $303 over the last four years, and they didn't. That didn't happen. Investing in projects approved in the ISP is a good option by the Albanese opposition, helping improve and strengthen the grid. A lot of those charges—making sure that we can offset that with government investment is a good thing.

The question I don't understand is why members opposite are opposed to it. We have a commonwealth government and a commonwealth opposition who are both fighting to try to reduce power prices. We should be encouraging both of them. Members opposite certainly weren't able to decrease power prices by the amount that they claimed; in fact, most of the time that they were in office—

Mr GARDNER: Point of order, sir.

The Hon. A. KOUTSANTONIS: —power prices were higher than they were under the Weatherill government.

The DEPUTY SPEAKER: Point of order.

Mr GARDNER: It's a straightforward question, and the minister is now debating.

The DEPUTY SPEAKER: I think that was one of his more straightforward answers. Minister, did you wish to—

The Hon. A. KOUTSANTONIS: I wasn't attempting to debate the answer at all. I was just trying to give a factual answer. What I am saying is, in the midst of a federal election campaign, both sides in Canberra are looking at alternative paths to try to lower power prices for South Australians. The Morrison plan is to invest in technologies, and hopefully those technologies can decarbonise the grid and lower power prices. The Albanese plan is to invest in the ISP and make sure that they can lower power prices through strengthening the grid.

I have faith in my federal colleagues; in fact, I am meeting with the shadow minister, Mr Bowen, today in this very building. I am looking forward to talking to him at length about Labor's plans and how we can work together. Just recently, to the credit of the former Marshall government, the Speirs opposition, they were able to put in a submission to the commonwealth government for funding for a hydrogen hub. That money has come through and that money has been endorsed by Mr Albanese and Mr Bowen. That means that, no matter who wins, that money is coming to South Australia. That is a good thing.

The investment in hydrogen and renewable technologies will lower power prices. It will also help decarbonise. This doesn't have to be an either/or situation. Both sides are attempting to lower power prices. I believe Labor's plan is better. Members opposite would, I assume, prefer the Coalition's plan. I think our plan will work. Our plan is approved by the experts. Our plan has been modelled. Members opposite's plans at the commonwealth level have not been modelled.

So, yes, I trust the experts and analysis done by the commonwealth opposition, and I support their plans. I think it will help lower power prices. If it doesn't, I am sure the member will stand up and ask me questions about a plan I am not responsible for and demand answers from me, and I will attempt to do exactly the same thing back to him. The reality is we are all attempting to lower power prices. We are all attempting to do what we can, but the problem is this: there is an international factor at play now which is lifting wholesale power prices across the country, and that is the war in Ukraine.

Don't believe me: listen to the Prime Minister. Spot prices for gas reached over $40 a gigajoule. The price of coal went up nearly $126 a tonne. These had impacts on the eastern seaboard, which had impacts on our market. When gas prices go up, prices go up. When there is an international gas shortage, prices will increase. The question for us is: when this stabilises and the war in Europe is over, hopefully we are able to transition. Hopefully, this is a message to all of us to make that transition work faster so we are not as reliant, and other countries are not as reliant, on Russian gas, and we can turn to those alternatives, like hydrogen and renewable energy. That's our plan.