During six years of Labor Government, power prices doubled.

It now appears we have turned the corner on power prices.

ABS data shows the average price of electricity fell by around 5.3% since December 2018 (to September 2020).

The Government is working to reduce power prices, by:

  • Banning sneaky late penalty payments;
  • Big stick legislation requiring big energy companies to put their customers first and pass on savings;
  • Establishing a price safety net through the default market offer; and
  • Setting up a reference price to make it easier to compare deals from energy retailers.

The Morrison Government is working to deliver reliable, secure and affordable energy, from a variety of sources.

In 2019, Australia deployed new renewable energy ten times faster per capita than the global average and four times faster per capita than in Europe, China, Japan or the United States.

By strengthening the grid – accelerating major transmission projects – we will enable electricity to be shared between states.

We are backing projects to unlock supply of natural gas, which is a flexible, reliable, energy source that helps to lower emissions.

The Government has given the green light to the Snowy 2.0 project. This will increase the reliability (and reduce the volatility) of renewable energy, meeting the peak demand of up to 500,000 homes.

The Government has outlined its technology led plan to lower emissions, lower costs and support jobs. This includes clean hydrogen, electricity storage, low emissions steel and aluminium production, carbon capture and storage and soil carbon sequestration.

Information current as at December 2020