Thursday, 29 May 2025

Energy policy

David DAVIS (Southern Metropolitan) (12:04): (934) My question is again to the Treasurer. The most recent CPI figures show electricity prices surging, with a 16.2 per cent increase between the March quarter 2024 and the March quarter 2025. Why has the Allan Labor government forced up the price of electricity for families and small businesses in this state by 16.2 per cent in a cost-of-living crisis?

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:04): I understand your frustration, Mr Davis, that your shadow is not in this house. I will attempt to answer your questions, but electricity prices are a matter for the minister for energy, and there is no disputing that. Of course I am interested in cost-of-living measures. That is why part of this year’s budget has a cost-of-living measure in relation to the power saving bonus for vulnerable Victorians – those with concession cards, those who need the additional help for the upcoming winter bills. But you asked about electricity prices, and of course our focus is on driving down bills for Victorian families. It is why we called on the Essential Services Commission to put households first and energy company profits second in the Victorian default offer. It is why we are investing in renewable energy – because it is the cheapest form of new-build energy.

We continue to have the lowest energy prices in the country, and that is something that you like to ignore. I do not know why you would do that; you should be promoting our state. The average Victorian default offer will increase by less than 1 per cent next financial year, and that is far lower than increases in other states. Victoria’s wholesale electricity prices remain the lowest in the country, which means lower bills. So, if you are an energy-intensive –

David Davis interjected.

Jaclyn SYMES: Mr Davis, I have answered your question in relation to the limited remit I have in relation to providing you information that is squarely the responsibility of another minister. Hopefully the information I have given you you would find useful. It would be really good if you started some of your questions with ‘I acknowledge that Victoria is the best, but’, but you never do.

David DAVIS (Southern Metropolitan) (12:06): The Treasurer does not want to engage with the fact that the electricity price, according to the ABS, has increased by 16.2 per cent to the end of the March quarter in Victoria. Treasurer, other than Brisbane, where the state government rebate concluded, Victoria had the highest increase in electricity costs across the 12 months to the March quarter 2025, according to the ABS. Why have you driven electricity costs up or failed to bring them down to achieve an outcome for our economy and our businesses?

The PRESIDENT: It is very difficult when the minister has said that electricity prices are the responsibility of another minister and then the supplementary question is around electricity prices. As I said, Mr Davis, you have every right to ask any minister any question you like, and the ministers have got every right to say it is the responsibility of another minister.

David Davis: On a point of order, President, the economy is driven by cost inputs and so forth, and electricity is one of them. Electricity costs have gone up more than 16 per cent in the last year, and that should be a matter of concern for the Treasurer. If the Treasurer is going to tell us that an input cost like electricity into the economy and businesses is unimportant, good luck to her.

The PRESIDENT: I am happy to put the question to the Treasurer, but once again, every member has a right to ask a question of any minister about any issue, but the minister has got the right to say that it is not within her responsibility.

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:08): Mr Davis, just to build on the information I gave you before in relation to the impact of the Victorian default offer and the fact that it is driving down prices, we are ensuring that all of our initiatives are about reducing the impost on households. We are bringing back the SEC, which is all about ensuring that these are the things that are the focus of our government and ensuring you can make the choice to upgrade appliances in your home – we are making that easy. We are making it easy to find trusted installers and know which rebates you can access. That is what the one-stop shop is going to be all about. We have got hot-water rebates, solar and, as I said before, the energy saving bonus. Mr Davis, we are a government that is squarely focused on households and how we can bring down their bills. But you also mentioned industry. If you are an energy-intensive business, Victoria remains the best place to be. Our wholesale electricity prices averaged $101 in 2024, the lowest in the national electricity market.