Energy Minister Angus Taylor outlines new energy plan as he pledges to drive down power prices
ENERGY Minister Angus Taylor has vowed to target big electricity companies, claiming they have breached Australians’ trust in the same way as the big banks.
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ENERGY Minister Angus Taylor has vowed to target big power companies, saying they have breached Australians’ trust in the same way as the big banks.
The newly-appointed minister has outlined his approach to driving power prices down, in a speech scathing of energy providers.
He foreshadowed heavy-handed intervention if companies failed to help consumers with skyrocketing bills.
“The loss of trust and the failure to deliver acceptable outcomes has reached the point where the government has no choice to wield a big stick, which we will use if we have to,” Mr Taylor said in Sydney.
“The electricity sector, like the banks, needs to re-establish its credibility with the community.”
Mr Taylor also defended himself against claims he is a climate change sceptic during the speech in Sydney.
“I’m not sceptical about climate science. But I am deeply sceptical about the economics of so many emissions reductions schemes dreamed up by biased politicians around the world,” he said.
“For more than 30 years I’ve shared concerns about climate change and the impact of CO2 on our climate.”
But Labor Senator Penny Wong accused Mr Taylor of being the most anti-renewable energy minister yet.
“Angus Taylor might be a fresh face but he has the same old ideas,” Senator Wong told Sky News. “It is the Tony Abbott, Peter Dutton hard right ideologues who are anti-renewable and who want to argue the science of climate change, and more importantly argue whether we should do something about it.
“He has the same old hardline head in the sand ideas.”
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The NSW MP was an opponent of Malcolm Turnbull’s National Energy Guarantee and his efforts to legislate the Paris emissions reduction targets, but said that didn’t mean he wasn’t a “lover of the environment”.
“I’m focused on getting prices down while I keep the lights on. I’ve got one KPI. I’ve got one goal,” he toldThe Australian.
“At the end of the day, we just want to get prices down. We’re not going to get ideological about it; we just want to get the outcome. It’s very pragmatic.”
Mr Taylor told the publication the government would be stamping down on customers being ripped off by energy retailers.
Internal division in the Liberal party over the NEG was one of the catalysts for the successful challenge to Mr Turnbull’s leadership.
“I am not sceptical about climate science,” Mr Taylor will say in the speech, according to The Australian.
“But I am and have been for many years deeply sceptical of the economics of so many of the emissions reduction programs dreamt up by politicians, vested interests and technocrats around the world.”
Mr Taylor also hits out renewable energy subsidies, saying they drive up power costs for consumers.
“None of my concerns justifies supporting expensive programs that deliver little else other than funnelling consumers’ hard-earned money into vested interests and result in increased prices and reduce reliability,” Mr Taylor will say.