17 October 2017

Malcolm Turnbull has refused to guarantee his policy the so-called National Energy Guarantee will actually lead to a fall in power prices. Its a guarantee without a guarantee!

The Turnbull Government today has confirmed that Cabinet has adopted a national energy policy without any economic modelling or a Regulatory Impact Statement.

That Coalition is now in its fifth year of government five years of policy uncertainty when it comes to energy and climate change and still has not got around to having any economic modelling or a RIS completed before the Cabinet signed off on this policy.

Thats Malcolm Turnbull and Scott Morrisons version of evidence-based policy making.

Today in Parliament the Prime Minister, Energy Minister and Treasurer could not point to any economic modelling being done or a Regulatory Impact Statement being prepared.

Earlier, the Chairman of the Australian Energy Markets Commission confirmed that economic modelling had not yet been done on the National Energy Guarantee.

PIERCE: So off the back of thiswork, the Commonwealth Governmentwill be asking the AEMC to dodetailed analysis and modelling ofthis specific proposal in thelead-up to the discussions at COAGwhere we would provide, if you like,firmer estimates of those priceeffects. The price numbers you're referring to are based off, if youlike, analysis and modelling of themarket and the alternative schemesthat we've looked at in the past. Itis an average over the ten years.The more detailed work will give aprofile.

In Question Time, the Treasurer confirmed that Cabinet had signed off on the energy policy without a Regulatory Impact Statement in breach of the Governments own guidelines.


Its quite extraordinary that the Turnbull Government has signed off on its latest energy policy without economic modelling and therefore not being able to guarantee a supposed guarantee.