Press conference in Melbourne, Victoria

CHRIS BOWEN: Thanks for coming this morning. Well, this morning's draft Default Market Offer from the Australian Energy Regulator shows the need to keep on going more than ever before with the plan to introduce more of the cheapest, most reliable form of energy for Australians, and that of course is renewable energy.

It also shows the importance for what we've already done in terms of short-term relief for Australian households, two rounds of energy bill relief, and it shows that the Albanese Government, our approach of short-term relief coupled with a longer-term plan is the right plan for Australia.

We know cost of living is the number one issue for Australians. We know Australians, like people right around the world, are doing it tough with the increases in cost of living in recent times. That's why they deserve a government on their side. A government making decisions like short-term energy bill relief and longer term, the plans to introduce more of cheaper, more reliable energy.

The Australian Energy Regulator each year sets a Default Market Offer which is a benchmark for which energy prices are set by retailers. Now, 9 per cent of Australians are on the Default Market Offer. Most Australians are under - are on less than Default Market Offer in terms of their bills.

But we also know that around 80 per cent of Australians aren't on the cheapest offer available. Again, I think these figures show an important opportunity to remind Australians that you can do better and shop around for a better deal.

Now we've made it easier in the Albanese Government to switch energy providers, and there are two websites which are very useful. EnergyMadeEasy.gov.au and also Energy.gov.au depending on the state that you're in. They provide very useful guides to whether you're on the best deal possible, both from your existing retailer or whether an offer might be available from a better retailer.

People can improve their energy price by up to 25 per cent by accessing these two Government websites.

So we're going to maintain our focus on making energy prices more affordable for Australians. We've done that with our energy coal and gas caps, which the Liberal Party opposed; our two rounds of energy bill relief, which the Liberal Party opposed.

Of course there is an alternative approach. Mr Dutton and Mr O'Brien promise a scheme which would see more pressure on energy prices by introducing the most expensive form of energy, nuclear. But also by keeping coal in the grid for longer. And as the Australian Energy Regulator herself made clear this morning in the media, one of the reasons for this decision today is spikes caused by coal-fired power stations breaking down. Not a day in the last two years have we had a coal-fired power station not break down somewhere in Australia. I'm not talking about plant maintenance; I'm talking about unexpected breakdowns which then see energy prices spike.

We want to replace that power with more reliable, a cleaner, cheaper renewable energy. Mr Dutton wants to keep that power for longer, that coal-fired power for longer, to sweat those coal fired power stations for longer.

So there will be a real choice for the Australian people at the next election: Our plan to stay focussed on the combination of short-term relief and a longer-term plans to introduce more reliable energy; Mr Dutton's plan for nuclear energy and coal for longer.

Happy to take questions.

JOURNALIST: Minister, a lot of households are struggling.

CHRIS BOWEN: Absolutely.

JOURNALIST: How do you expect today's development of a 9 per cent, nearly 9 per cent increase to be received by them?

CHRIS BOWEN: Well, those who are taking that 9 per cent increase of course will be very disappointed. The range of the - the increase ranges from 0.7 to that more than 8 per cent and some reductions in some places in Victoria.

I think Australians know that cost of living is the number one issue. The Government knows that. That's the same right around the world. That's why we've had the focus that we have had, whether it be our tax cuts for every single taxpayer in Australia, cheaper childcare, cheaper medicines, fee free TAFE, and the energy bill relief. That focus will continue with the Albanese Government.

JOURNALIST: Does this help build the case to extend $300 energy bill rebates once again?

CHRIS BOWEN: We've had two rounds of energy bill relief. As the Prime Minister, the Treasurer and I have made clear we will always consider what more can be done. There's a budget coming soon and we'll continue that approach of considering what more we can do.

JOURNALIST: Minister, will you concede before the election that you promised to cut power bills by $275 which was made before the last election, at the last election, has not been realised?

CHRIS BOWEN: Well of course policies were modelled in 2020 and 2021, and of course we've seen energy price spikes right around the world since then. But what hasn't changed is the fact that every bit of renewable energy you introduce puts downward pressure on prices. And if you are planning on keeping coal in the grid for longer that puts upward pressure on prices. Those fundamental facts remain.

Now, we'll continue with that approach. There'll be debates around election time, hopefully between me and Ted O'Brien where we can argue that out. But we'll be putting our alternative plan before the Australian people.

JOURNALIST: Has the Albanese Government repeatedly broken its promises on keeping energy prices low?

CHRIS BOWEN: No, I think I just answered that question.

JOURNALIST: Minister, energy analysts argue more generous household electrification schemes and solar and battery rebates are a better model pushing down power prices. Are you looking at a bigger, more generous scheme ahead of the Budget or Election?

CHRIS BOWEN: Well of course we've already done quite a bit here. We've got the billion dollars of low interest loans through the Clean Energy Finance Corporation. Also very importantly we've got the investments we've made for apartments through our solar banks policy, to make it easier for apartments to put solar panels in, or to access solar power through other means. And very importantly, our Social Housing Energy Performance Initiative, and I've announced agreements now with the ACT and New South Wales to see thousands of social and public housing dwellings receive solar panels, batteries and other treatments which can reduce energy prices.

Again, we've never said that that's all. We've always said that there'll be more to do but we've done quite a bit here. So I agree, that has an important part of the mix, and we'll continue that approach of working where we can to make it easier for people to access cheaper, reliable energy in their homes as well as across the grid.

JOURNALIST: Do you think that today's announcement plays into the Coalition's proposal of nuclear power plants [indistinct]?

CHRIS BOWEN: Well I'm not sure how that could be the case when nuclear is the most expensive form of energy and it's been modelled to increase energy bills by $1,200 a year, up to $1,200 a year.

And there's two impacts of nuclear. There's the actual cost of building the nuclear, it's the most expensive form of energy, it's very expensive to build. And Mr O'Brien says, "Well maybe it's expensive to build but somehow that won't flow through to bills". I mean he thinks energy and electricity are the only parts of the economy where something which is expensive to build doesn't need to be repaid.

But secondly, and in the short term more importantly, it means keeping coal in the grid for longer. The Liberal Party admits this. They say, "Yep, we're going to keep the coal-fired power stations open for longer". Now that's terrible for emissions but it's terrible for reliability and it's terrible for costs because, as the Energy Regulator this morning has said, part of the reason for this increase is that spike in energy prices every time we have a major outage of a coal-fired power station.

Now that'll happen more and more under Mr O'Brien so I don't think the premise that you put in your question stands up to any scrutiny, and in fact, you know, I very much welcome a debate about the competing plans for energy prices that'll be put before the Australian people at the next election.

JOURNALIST: How can the Albanese Government be trusted in its criticism of the Coalition when on its watch energy prices do keep increasing?

CHRIS BOWEN: Well, it's not just us who points out the impacts of Mr Dutton's plan. You know, energy experts, expert after expert, analysis after analysis, I mean I could point you to scores of people, pieces of analysis which show that energy prices will be higher under Mr Dutton's plan because he would introduce the most expensive form of energy and keep coal in the grid for longer.

JOURNALIST: Just on to other matters if we may.

CHRIS BOWEN: Of course.

JOURNALIST: The Victorian Premier is planning to write to the Federal Government about the ban on machetes. What's the Federal Government's position?  

CHRIS BOWEN: I've seen that in the media this morning but that's the extent of my knowledge of the matter. Of course any request from any State Government is taken seriously by the Federal Government but we would need  - the relevant Ministers in the first instance would need to weigh up that request and they'll have more to say in due course, no doubt.

JOURNALIST: Do you have - do you think it is worth a serious consideration given--

CHRIS BOWEN: Oh, we take any suggestion from a Premier seriously, we always do regardless of party, regardless of State. When a Premier writes to the Commonwealth or raises a matter with the Commonwealth, the Commonwealth of course takes it seriously. Whether we agree or disagree at the end of the day is something for full consideration. But I'm sure the Premier has raised that suggestion seriously and in good faith and we'll consider it similarly.

JOURNALIST: Is that something the Albanese Government has looked at previously or it's just now being tabled?

CHRIS BOWEN: I would need to leave law enforcement Ministers to comment in more detail.

JOURNALIST: Just back to the energy. Do we need more gas and more gas reserved for Australians [indistinct]?

CHRIS BOWEN: Well we have needed to take action, that's why we introduced the Gas Code of Conduct which has seen around 600 petajoules extra gas added to the Australian supply as a result of the policies that we've introduced, which Mr Dutton opposed, bizarrely, opposed the concept of requiring more gas from gas producers to be sent to Australia.

A matter for him to explain how he and his team could actually oppose a gas Code of Conduct which requires Australian producers to provide one cap, and two if they want an exemption to provide more supply. I'm pleased with that 600 petajoules of extra gas that's been supplied as a result.

The Shadow Minister for Resources was out a little ago saying that they would introduce a whole grand total of 50 more petajoules. I mean we've introduced 600 and their grand plan is 50. I mean for goodness sake. And, you know, all we get is rhetoric, and if I'm   if I could say hot air about gas from the Opposition. They're full of slogans. Where's the policy?

JOURNALIST: And given the disparity we've seen between Victoria and other States with power price changes, has the Government failed to make enough progress on delivering planned transmission projects?

CHRIS BOWEN: Well I think it does underline in one sense the importance of those transmission projects, which the Opposition once used to believe in. Angus Taylor when he was the Minister was spouting the need for more transmission. It is true that we need to move energy around the States more efficiently. That is true. Regardless of how it's generated, frankly. We need to move the energy around the different markets, the different States more efficiently. That's why we are investing $20 billion in improved transmission.

There's a lot of projects well under way, under construction and well under way. That's a good thing. The Opposition says they will stop that, but they haven't outlined which projects they'll actually stop. Will they stop Marinus Link? Will they stop Hume Link which plugs in Snowy 2.0? What project will they stop? I welcome further details from the Opposition.

JOURNALIST: And does this lock in the need for renewed energy bill relief in the Budget?

CHRIS BOWEN: Again, I think I might have dealt with that earlier. Any other questions?

JOURNALIST: No, thank you.

CHRIS BOWEN: Great. Thanks for coming out.