Tuesday, 4 March 2025

Questions without notice and ministers statements

Economy

David DAVIS (Southern Metropolitan) (12:05): (821) My question is to the Treasurer. Treasurer, I refer to the Aurora modelling attached to the Infrastructure Victoria report released today, which shows that, under that modelling, energy costs on a time-weighted average will increase from less than $50 per megawatt hour this year to around $120 per megawatt hour by 2030 – a 140 per cent increase. Treasurer, despite Labor being in power for over 10 years, Victorians face a massive surge in electricity costs that will hurt small businesses and slash family budgets. Treasurer, what will be the impact on the Victorian economy of this huge surge in power costs?

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:06): I thank Mr Davis for his question, and I do welcome the Infrastructure Victoria report. It is the 30-year strategy. It covers a range of topics, including energy, including infrastructure, including –

David Davis interjected.

Jaclyn SYMES: It refers to the SRL, it includes some conversations about speed limits and the like. Obviously this is a report that has been released today. It will be subject to consultation and feedback from the community, with a final report due for November.

Mr Davis, you have made a range of claims in your question which do not really stack up in your conclusion, in what you have formulated. In relation to energy policy, that is much better placed for the appropriate minister.

David Davis: On a point of order, President, I asked about the impact of these energy increases on the Victorian economy.

Jaclyn Symes: That is a hypothetical.

David Davis: No, it is not. There is actually modelling here, done by your government, that says the costs are going up. What will be the impact on the Victorian economy? You must surely have modelled that.

Sonja Terpstra: On a point of order, President, he is debating the point of order. It is not a point of order.

The PRESIDENT: The minister was being relevant as far as her portfolio goes.

David DAVIS (Southern Metropolitan) (12:07): The base case analysed by Aurora states:

The closure of coal plants in Victoria, beginning with Yallourn, is expected to significantly increase prices due to a reduced supply of reliable electricity, forcing a greater reliance on more expensive generation sources …

My question to the Treasurer is therefore: what steps will you take to protect the Victorian economy, households and businesses from wholesale power price increases of over 120 per cent?

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:08): I reject the premise of the question. Mr Davis is doing what he has always done in all of my portfolios: he has tried to link something and say it is because it has got money or because it is in regional development it is in relation to my responsibility. There is a range of variables in relation to energy policy: energy transition, renewable investment –

Harriet Shing interjected.

Jaclyn SYMES: the national grid. In relation to the specifics of energy policy, if you want to have a conversation with the energy minister, I am sure she would welcome it.

Members interjecting.

David Davis: On a point of order, President, power prices – electricity costs – are a significant input to the Victorian economy. We are surely able to ask about the impact of power prices on the Victorian economy, which is the Treasurer’s responsibility.

The PRESIDENT: Mr Davis, you have the right to ask any question to a minister and the minister has the right to answer it in the way this minister did in terms of where it starts and ends with her responsibilities.

David DAVIS (Southern Metropolitan) (12:09): I move:

That the minister’s answer be taken into account on the next day of meeting.

Motion agreed to.