Interview with Ben Fordham, 2GB
BEN FORDHAM: Well, Labor is facing a backlash against its energy policy, with businesses questioning how they will keep the lights on. Bill Shorten has unveiled his $215 million plan to install 100,000 battery storage systems in Australian homes - or on the side of Australian homes with solar on the roof. And he also wants to increase emissions reduction targets by - well, he wants to get it to 45 per cent by 2030. The policy has been slammed by the nation's largest electricity user; that's Tomago Aluminium Smelter. The boss has declared batteries are not the solution. The Energy Minister Angus Taylor joins us live on the line. Minister, good afternoon.
ANGUS TAYLOR: Thanks for having me, Ben.
BEN FORDHAM: I'm guessing you'll be endorsing the warnings from the boss of Tomago?
ANGUS TAYLOR: I sure will. It will be almost impossible to keep the aluminium sector alive in this country if Labor gets its way. And they're setting these ridiculous targets - 45 per cent emission reduction targets, 50 per cent renewable energy targets. Renewable energy is great, but you got to get the balance right. And that's the kind of pace of investment subsidy that Labor is talking about will drive out these industries, drive out jobs, drive up electricity prices; and frankly, we'll struggle to keep the lights on. And that's what the boss of Tomago is talking about. You've got similar businesses up in Queensland. It is very difficult - it is impossible to run a smelter on batteries; you can't do it.
BEN FORDHAM: Alright, let's go to the residential side of things. I need to confess here; put my own hand up. I've got the solar panels on the roof and I've got the battery on the side of the house. And I've cut my own electricity consumption by 70 per cent thanks to that move. But if they're subsidising this through government, I'm guessing it's only going to be people with money who are able to do it, right?
ANGUS TAYLOR: Well, dead right, Ben. And if you're subsidising batteries for two grand, at the end of the day, it doesn't really touch the sides. You know, if you're going to put in batteries that are going to allow you to cover most of your power most of the time, it's a pretty expensive- it's a very expensive exercise. And so - it's another Labor thought bubble; it hasn't been thought through. It's got all the smell of pink batts about it - pink batteries following from the pink batts. Frankly, it's not getting to the bottom of the problem here which is: how do we make sure there is 24/7 reliable, affordable, supply in our system, that's going to drive down prices and keep the lights on. You simply can't trust Labor to get power prices down and you simply can't trust them to keep the lights on and keep the jobs in this all important industry.
BEN FORDHAM: I heard one expert in his analysis today saying they've got it right, they're just a bit too early with their plan; do you agree with that?
ANGUS TAYLOR: Well, timing is everything, Ben. You don't get it right if you get the timing wrong. And this is the whole point: you've got to have a sensible balanced approach to electricity. Labor has never taken that approach. They always want to jump ahead of the technology - you can't jump ahead of the technology. Look, it's great; put solar cells on your roof - lots of people have done it. And here in Queensland, it's been popular; it's great. But what we're talking about here is jumping way ahead of what is reasonable and possible. And it would just be another big waste of money. And, it risks going wrong - as the pink batts program did in the previous Labor Government.
BEN FORDHAM: Minister, thanks for your time. Have a good weekend.
ANGUS TAYLOR: Thanks, Ben.
BEN FORDHAM: Angus Taylor, the federal Energy Minister with his take on Bill Shorten's energy policy which is coping a bit of a hammering at the moment.