KIERAN GILBERT: Let's bring in the Energy Minister now, Angus Taylor. Your thoughts on, well, that reaction first of all from Richard Di Natale?

ANGUS TAYLOR: Well, I think the President was right to condemn this terrible act, and blame should be shirred back to whoever was responsible for it. I think it's pretty simple and that's where the debate should be. Going to partisan politics when something like this is going on is the wrong place to go. This is heinous behaviour, if it was to happen in Australia we would unify against it, and that's what should happen across the world.

LAURA JAYES: Minister, is there something to be said for the language used in our Parliament? Some have called it aggressive. Is there anything that we need to reflect on?

ANGUS TAYLOR: Well, I don't think this is the time to go to that sort of introspection - this is the time to condemn that kind of behaviour, Laura. I think it's simple. I don't think people who live in wonderful democracies like ours and the United States should put up with this behaviour. It should just be straight condemnation of it and the President was absolutely right to do that.

KIERAN GILBERT: Let's turn our attention to local news now. In terms of the default price, which you've announced, is it workable? The retailers are suggesting it might not be- well, basically it's easier said than done.

ANGUS TAYLOR: Well, Kieran, it's pretty simple - the loyalty tax has got to go. You can have two people on the same street, in the same city in, say, Adelaide, two families - hardworking families - who are using exactly the same amount of electricity and can be paying more than $800 a year difference - $800 a year difference - simply because one of those families didn't have the time to get on the phone just before the end of the year and negotiate a better deal with the energy companies.

KIERAN GILBERT: Aren't the retailers already moving on this, and the Government's song and dance is a bit gratuitous?

ANGUS TAYLOR: Not on the standing offers. So, the standing offers, which are the default prices people get now if they don't get time to go and negotiate a better one, have to come down. We've said by 1 January we want a down payment on that, a move on that and by 1 July we want to see that loyalty tax gone. Look, this is what Australian families, hardworking small businesses want to see and they are right to ask for it. We need to see the right behaviour from the energy companies, but let's be clear here what we've seen in the last 24 hours is Bill Shorten and his party siding with the big energy companies, siding with the big energy companies, singing from the same songbook. They're backing the dodgy practices, they're backing the price gouging, they're backing the record profits. We sit on the side of those hard working Australian families and small businesses, and the Labor Party is siding with the big energy companies. Well, we know where we stand.

LAURA JAYES: You're wielding a big stick for a Liberal Government and you're the ‘Minister for Getting Energy Prices Down', so the long and the short of it is, Angus Taylor, when and by how much?

ANGUS TAYLOR: We've been very clear we want to see that loyalty tax gone by 1 July through a process that's in motion now and we want to see a down payment on that by 1 January. We are also bringing forward to the Parliament, this year, a big stick legislation package, a serious legislation package which Labor is rejecting because they're siding with-

LAURA JAYES: But what does all this mean, when and by how much?

ANGUS TAYLOR: Well, they're siding with the energy companies, Laura, and that means they're siding with record profits. We will bring forward that legislation package to the Parliament this year and by early next year we'll have a shortlist of fair dinkum reliable dispatchable generation that can keep the lights on and keep prices down.

KIERAN GILBERT: When you talk about the big stick, you talk about the divestment threat. Labor says that's an investment risk, that's why they aren't convinced, and if it was such a good idea, why didn't the ACCC recommend it in their report?

ANGUS TAYLOR: Well, Kieran, when an energy company withdraws a large amount of capacity, a big generator from the market without a replacement, without any replacement. We do need to act. Government does need to have a means of dealing with that-

KIERAN GILBERT: Why wouldn't the ACCC recommend it if it was a way to do it?

ANGUS TAYLOR: Well the ACCC made very clear we need to have enough capacity in the market, enough supply in the market to keep prices down. So we were acting to make sure that happens. Labour is siding with the big energy companies, Kieran, and we will not stand for it. We won't stand for the dodgy practices, the price gouging and the record profits.

LAURA JAYES: You have been charged with one job haven't you, Angus Taylor, and that is getting energy prices down. So, will we see a reduction this side of an election and by how much?

ANGUS TAYLOR: I've said Laura that we want to see the loyalty tax gone by 1 July and we want a down payment on that on 1 January.

LAURA JAYES: Do you have dollar figures?

ANGUS TAYLOR: Well, I just went through some dollar figures on what we are seeing from this loyalty tax. The same families, two families right next door, same energy usage in the same city more than $800 difference because one of them didn't have time, they were too busy, they were taking their kids to sport, they were driving to work - they were too busy to actually get on the phone and negotiate a better price. Now, that is unfair pricing and Labor is defending it.

KIERAN GILBERT: When you look at your Government's policy more broadly you've separated energy and emissions as a focus now in different portfolios, and we've seen today front page of The Australian that boards' directors are increasingly saying they also want climate change dealt with - do you accept that or are you sceptical about the need to act on that?

ANGUS TAYLOR: Well there's very good news here, Kieran, we are going to reach our 26 per cent reduction target for 2030 well ahead of time in the electricity market, well ahead of time. The reason for that is in the next three years we're going to see a 250 per cent increase in solar and wind generation in the National Electricity Market. A 250 per cent increase.

KIERAN GILBERT: But sadly the electricity market isn't – it is not the only factor when you look at emissions. It's one-

ANGUS TAYLOR: Well that's what I'm responsible for and that's what I'm focused on. And my point, and the reason you raise this-

KIERAN GILBERT: But do you share the concern of the boards' directors around the country that this is an issue that needs to be managed more effectively?

ANGUS TAYLOR: Well the reason this has come up is people are saying: ‘Well, you know we need to trade off electricity prices to get emissions down'. My point is you don't need to. You simply don't need to. We're going to get there in the early 2020s. So our focus is absolutely relentlessly on getting those prices down while we keep the lights on, and we can do that because the emissions issue is well in hand because of that surge we're seeing in solar and wind over the next three years.

LAURA JAYES: Minister, how will you get emissions down? Is this a top up of the Emissions Reductions Fund? Is that what you're arguing for around the Cabinet table?

ANGUS TAYLOR: No, no, I am I am saying that there are committed projects, $15 billion of committed projects that are going to meet them. We're going to get to our 2030 target well ahead of time, Laura. Look, we're going to see an increase in solar and wind in the next three years from 17.5 terawatt hours to 44.4 - that's a 250 per cent increase in three years. The emissions are coming down.

LAURA JAYES: Okay, well one final question. Are you happy to see Malcolm Turnbull go to Bali to represent Australia when there's discussion on oceans?

ANGUS TAYLOR: Look I think former prime ministers can add a lot of value in a lot of different ways. We saw Tony Abbott go to France at an important commemoration there. We saw John Howard go to Bali a few years back to represent the Australian Government. There's lots of precedent for this. There are important roles for former prime ministers.

KIERAN GILBERT: Angus Taylor we appreciate your time. Energy Minister, we'll talk to you soon.