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 13.2% since December 2018 (to March 2021).
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 2020, Australia deployed more renewable energy than in the six years of the previous Labor government.
Australia has the world’s highest uptake of rooftop solar, with one in four homes with rooftop solar panels.
We are building wind and solar three-times faster than Europe or the USA on a per-person basis.
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 is building Snowy 2.0. This will increase the reliability (and reduce the volatility) of renewable energy, meeting peak demand of up to 500,000 homes.
To fill the gap created by the closure of the Liddell power station in 2023, the Government is investing up to $600 million building a new gas-fired power station – to be built by Snowy Hydro Limited – in the New South Wales Hunter Valley.
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 August 2021