Lower Power Prices

Lower Power Prices

We are taking action to lower prices.

Our plan for affordable, reliable power includes: a price safety net to protect customers; big stick legislation to stop energy company rip offs of customers; and a technology neutral program to underwrite new reliable energy generation.

This builds on previous measures to lower energy costs, including: requiring power companies to provide better deals; securing priority gas supply for Australia; and putting downward pressure on network costs (which are passed on to customers) by stopping the energy networks from gaming the system.

Our plan for affordable and reliable power is getting results.

From 1 July 2019, we will permanently get rid of the ‘loyalty tax’ and lock in better deals for 750,000 households and tens of thousands of small businesses.

Households will save up an estimated $479 per year in South Australia, $696 in NSW and $660 in South East Queensland under a direct market offer.

The savings delivered build on the price cuts of up to 15 per cent secured by the Morrison Government for more than 500,000 families and small businesses from 1 January 2019 – and our ban on sneaky late payment fees that will save some customers up to $1,000 a year.

To further support pensioners and many other Australians we are providing $365 million for Energy Assistance Payments to help with energy bills – $75 for singles and $125 for couples.

During six years of Labor Government, power prices doubled and went up every year.

Now, Bill Shorten wants to replicate South Australian Labor’s 50% renewable target on a national level, which will mean higher electricity prices.

Labor also wants Australia to go far beyond the rest of the world and cut carbon emissions by 45%. This would damage our economy and cost local jobs.

Independent modelling shows that Labor’s 45% Emissions Reduction Target and 50% Renewable Target will cost the economy $472 billion, slash more than 336,000 jobs, cut the average wage by over $9,000 and increase wholesale electricity prices by more than 58%.

Information current as at April 2019