Andrew Mckellar speaking on industry peak body’s responses to the coalitions new energy plan.

ABC NEWS (Australia)

Industry peak bodies are responding to the coalitions new energy plan. The CEO of the Australian Chamber of Commerce and industry Andrew McKellar, says the business community has serious questions about the plan, that need to be answered.

Transcript

00:00Obviously, we're looking at it very closely. For us, this is an important policy. Business

00:12does need certainty. If we're going to get the investment in place for the future, then

00:17we need to understand what is the policy, what's the pathway as we go towards the middle

00:22of the century. Are we still complying with the Paris Agreement? And then what's the strategy

00:28on electricity, on energy? And look, I think what we've seen to date raises a number of

00:34questions. So clearly, on the one hand, the Coalition is saying that it remains committed

00:40to the Paris Agreement. But on the other hand, it seems to be casting very significant doubt

00:46on a number of the elements that are required if you're going to comply with that agreement

00:51in terms of the targets, you know, 2030, 2035 and beyond, and out to the second half of

00:58the century. So, you know, I think that's an important level of detail about what does it

01:03mean for Australia's position in relation to emissions abatement. And equally, on energy,

01:08there are significant questions about, you say you're prioritising affordability and cheaper

01:15power prices. But what is the plan to get there? So what would you say or where would certainty

01:21be at at this point for the business community? Well, I think, as I say, the business community

01:26does have significant questions. And in relation to the way forward on energy, you know, clearly,

01:35energy costs have been a huge issue for many businesses. You know, over the past five years,

01:39we've seen wholesale prices increasing in certainly the eastern states by around 200%. That's making

01:47life very difficult in a range of areas. So we need a plan that addresses affordability.

01:54And look, the government's plan is not perfect in that regard. They've put all of their eggs

01:58into one basket. We have questions about that. We do need to prioritise exploration and production

02:06of gas as a key part of the alternative. From a business point of view, we have articulated

02:13a technology neutral approach. But here, I think, you know, there are important questions.

02:17So, you know, if it's not going to be renewables, then what are the other options? And, you know,

02:23we would say renewables do have to be an important, a huge part of the solution going forward.

02:29But we need to know what else is on the table. You know, does it mean extending the life of

02:33existing coal-fired generation? Does it mean opening up the door to new coal-fired generation?

02:40Are there any other alternatives? And I think that's, you know, that needs to be very clear.

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