Coalition releases modelling for east coast gas reservation proposal

ABC NEWS (Australia)

The Opposition Leader has promised retail gas prices would drop by the end of the calendar year under a Coalition government. The Coalition has released modelling for its proposed gas reserve policy.

Transcript

00:00After days of pressure, the Coalition has published some detail of its major energy commitment

00:08to force gas suppliers to divert some of their supply into the domestic market.

00:14And while opposition leader Peter Dutton couldn't say today when he received that advice,

00:19he promised that consumers and industry would begin to see benefits by the end of this year.

00:26To achieve that, the Coalition would see up to 100 petajoules of gas diverted to the domestic market

00:33that would have otherwise been sold overseas by introducing a gas export charge

00:38that would make it less attractive to sell overseas compared to a competitive price in the domestic market.

00:44And Mr Dutton saying that industry like Blue Scope Steel could see a reduction in their power bills of up to 15%

00:52thanks to that charge, as well as households benefiting in a retail reduction of their power bills by the end of this year.

01:01Opposition leader Peter Dutton acknowledging that gas producers, gas exporters aren't happy with this plan,

01:07saying it will damage investment, but the Coalition asserting it will help to ensure energy security

01:13and lower costs for industry and households.

01:16We speak to the companies from day one.

01:18Now, some of the big gas companies aren't happy, but I'm fighting for families and I'm fighting for small businesses

01:25and for bigger manufacturing businesses so that we can bring costs down across the economy.

01:30I want the price of steel to come down and the price of bricks to come down, and they can under our policy.

01:35So we do, in the first 100 days, speak to those companies and work our way through our plan.

01:40We decouple from the international price and we can see more gas coming into the system by the end of this calendar year.

01:46And that's when you'll start to see a reduction in those prices.

01:50Retail prices?

01:52Yes.

01:53Mr Dutton also briefly commented today on the health of his father

01:57after it was revealed that his father had suffered a heart attack late yesterday,

02:02just before the first leaders' debate.

02:04Mr Dutton saying his dad is a tough bugger and he'll be alright.

02:08Thanks, guys.

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