Gas Policy Breakthrough: Coalition Pledges 23% Wholesale Price Reduction for Energy Security
In a significant policy announcement on Sky News Australia's AM Agenda, Shadow Finance Minister Jane Hume has outlined the Coalition's comprehensive gas strategy aimed at addressing Australia's ongoing energy crisis. The plan aims to increase domestic gas supply through an East Coast gas reservation system, which independent modeling suggests could reduce wholesale gas prices by around 23%.
"Increasing gas supply can consistently put downward pressure on prices," said Jane Hume during her interview, emphasizing the Coalition's commitment to structural reform rather than temporary measures.
The policy represents a departure from the current government's approach, which Hume criticized as merely recycling taxpayer dollars to provide subsidies. Speaking with AM Agenda host Laura, Hume highlighted the Labor government's failure to deliver on its pre-election promise of $275 reductions in power bills, noting instead that energy bills went soaring through the roof. Gas prices were up by 34%, while electricity prices increased by 32%."
"We're actually bringing more supply into the system to bring downward pressure on energy prices. This represents a systemic change," Hume stated on Sky News, contrasting the Coalition's long-term vision against what she described as Labor's band-aid solutions through consumer rebates.
"A viable manufacturing sector is not possible without cheaper gas, and a viable mining sector is not sustainable without cheaper energy," Hume remarked during the AM Agenda interview, connecting energy policy directly to Australia's economic productivity challenges.
The Coalition's plan also includes transitioning to nuclear energy as coal-fired power stations retire in the 2030s, which Hume described as one of the cheapest forms of energy globally. While acknowledging the time required for implementation, Hume maintained that the new policy serves as a necessary 'circuit breaker' for Australia's energy system.
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