The Opposition Leader has promised retail gas prices would drop by the end of the calendar year under a Coalition government. The Coalition has released modelling for its proposed gas reserve policy.
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00:00After days of pressure, the Coalition has published some detail of its major energy commitment
00:08to force gas suppliers to divert some of their supply into the domestic market.
00:14And while opposition leader Peter Dutton couldn't say today when he received that advice,
00:19he promised that consumers and industry would begin to see benefits by the end of this year.
00:26To achieve that, the Coalition would see up to 100 petajoules of gas diverted to the domestic market
00:33that would have otherwise been sold overseas by introducing a gas export charge
00:38that would make it less attractive to sell overseas compared to a competitive price in the domestic market.
00:44And Mr Dutton saying that industry like Blue Scope Steel could see a reduction in their power bills of up to 15%
00:52thanks to that charge, as well as households benefiting in a retail reduction of their power bills by the end of this year.
01:01Opposition leader Peter Dutton acknowledging that gas producers, gas exporters aren't happy with this plan,
01:07saying it will damage investment, but the Coalition asserting it will help to ensure energy security
01:13and lower costs for industry and households.
01:16We speak to the companies from day one.
01:18Now, some of the big gas companies aren't happy, but I'm fighting for families and I'm fighting for small businesses
01:25and for bigger manufacturing businesses so that we can bring costs down across the economy.
01:30I want the price of steel to come down and the price of bricks to come down, and they can under our policy.
01:35So we do, in the first 100 days, speak to those companies and work our way through our plan.
01:40We decouple from the international price and we can see more gas coming into the system by the end of this calendar year.
01:46And that's when you'll start to see a reduction in those prices.
01:50Retail prices?
01:52Yes.
01:53Mr Dutton also briefly commented today on the health of his father
01:57after it was revealed that his father had suffered a heart attack late yesterday,
02:02just before the first leaders' debate.
02:04Mr Dutton saying his dad is a tough bugger and he'll be alright.
02:08Thanks, guys.