Australian Coat of Arms

Member for Blaxland

Shadow Minister for Trade and Investment

Shadow Minister for Resources and Northern Australia 

Turnbull wants Australians to forget his promise to cut gas prices in half

The test for Malcolm Turnbull is whether his deal with big gas companies will cut the price of gas in half.

 In April this year Malcolm Turnbull promised to cut the cost of gas in half, from $20 to $10 a gigajoule.                                          

“Oh, no, it will be cheaper than the prices that are being offered now. People are being offered prices of $20 a gigajoule. It should be around half that or less.”

Malcolm Turnbull - ABC AM – Thursday, 27 April 2017

Six months later he still hasn’t delivered. Companies today are still being offered contracts of $15, $16, $17 or $18 a gigajoule.

Malcolm Turnbull’s own Energy Minister admits that:

“It is unacceptable that a linen company employing 30 people in regional New South Wales can only get a gas contract for three months at $16 plus a gigajoule.”

Josh Frydenberg – Monday, 25 September 2017

Market analysts also predict prices will stay high and certainly won’t be cut in half.

"[There is] no change in our view for medium-term gas prices, the days of cheap gas are over"

Nik Burns, UBS – ABC – FRIDAY, 29 SEPTEMBER 2017

Malcolm Turnbull is now trying to crab walk away from his promise to halve gas prices saying that he secured assurances from gas companies because:

“We will not let the power bills of Australians rise further and further because of a shortfall of gas on the east coast of Australia,” 

Malcolm Turnbull – 25 September 2017

That’s not what he promised six months ago.

He promised to cut prices in half and that’s what Australians expect to happen.

The gas export mechanism was supposed to be the way to cut gas prices in half.

Malcolm Turnbull has decided to rely on the assurances of the gas companies instead of using the mechanism.

The Australian people have got a right to expect Malcolm Turnbull will also keep the assurances he gave them – that gas prices will be cut in half.

If gas prices aren’t halved Malcolm Turnbull will have failed.

TUESDAY, 3 OCTOBER 2017

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