Energy Bill Will Hurt Australians

Federal Labor’s energy market interventions have passed through the House with the support of the Greens.

Federal Member for Dawson Andrew Willcox warned of the detrimental effects of price caps in an address to the Parliament stating that they would drive business offshore and add pressure to the supply shortage.

Mr Willcox said Labor’s ineffective set of measures will only hurt Australians’ hip pocket.

“Price caps are receiving their rightful outcry across the community, from industry groups, to economists, to businesses and people trying to pay their bills,” Mr Willcox said.

“Some have labelled Labor’s response as a declaration of war on the gas and coal industry. They are more interested in demonising these groups who do so much to produce wealth for our nation. The caps do a lot to please activists, however they do not provide security to our energy supply.

“The root cause of the issue we face is supply. If there is an oversupply, the price goes down. If there is an undersupply, the price goes up. We have an undersupply, so bring on more coal and gas.

“We don’t want to end up in a situation where we are gas rationing because of the shortages that will occur when there is not enough gas being produced.”

“In our market based economy, these price controls will drive away investment, reduce supply and send business overseas. That means our national profits will reduce dramatically, and the cost of living will increase for Australian households and businesses.

“Labor is about to get a major lesson in how markets work and unfortunately Australians will be collateral damage, paying the price for their ignorance.”