Australia is transitioning to a new energy future. We’ve turned the corner on electricity prices, as reforms to rein in the power of network companies and shore up gas supplies are making energy more affordable. Consumers can save hundreds of dollars a year.
The Government’s priority is cheaper electricity for all Australian households and businesses.
Our new package of measures will put further downward pressure on electricity prices with these initiatives:
A DEFAULT PRICE for electricity to ensure households and small to medium sized businesses on high-priced standing offers have lower bills, and to empower consumers to clearly and easily compare electricity offers to find the best deal.
A MANDATORY CODE OF CONDUCT for energy comparison services to ensure they focus on benefits to consumers, not the commissions they receive from energy companies.
Support, where necessary, for the development of NEW, STABLE, LOW-COST ENERGY GENERATION PROJECTS.
An INQUIRY INTO PRICES, PROFITS AND MARGINS of energy companies in the National Electricity Market.
STRONGER POWERS for the Australian Competition and Consumer Commission and the Australian Energy Regulator to address concerns with the market, including as a last resort ordering the breaking up of energy companies.
As Australia’s energy system transitions, the Australian Government is making energy more affordable for households, workplaces and businesses. The following key actions are helping power a more affordable energy future for everyone.
Holding energy retailers to account to ensure consumers are aware of the options they have to change energy plans.
To assist with energy affordability for our most vulnerable community members, about 4 MILLION AUSTRALIANS received a one-off cash payment to offset rising power bills while other energy reforms take effect.
The Australian Government is investing in new ways to make and store energy so it can be produced around the clock, while strengthening the electricity grid. The following key actions will help power a more reliable energy future.
Exploring options to introduce PUMPED HYDRO technology across Australia, including starting on Snowy 2.0, to provide enough power for half a million homes
As Australia’s energy system transitions, the Australian Government is investing in new ways to make energy cleaner and more sustainable. It’s actions like this today that will power a more sustainable energy future.
Provided funding of around $1.2 billion for low emission technologies through the Australian Renewable Energy Agency (ARENA) with around $1 billion available to support future projects.
Made $10 billion of financing available through the Clean Energy Financing Corporation; of this, the CEFC has provided over $3 billion of debt and equity to support low emissions projects throughout Australia.
Tasked CSIRO to develop a LOW EMISSIONS TECHNOLOGY ROADMAP to highlight areas of potential growth in Australia’s clean technology sector, map the development of new emissions reduction technologies, and identify opportunities to be part of future global energy supply chains.