Aussies set for power bill relief just before Christmas
The Albanese government has introduced a bill to help battling Aussies feel some relief during the ongoing cost of living crisis by bringing down the cost of unsustainable energy prices.
Treasurer Jim Chalmers says Australians need “urgent, targeted, meaningful action” to take some of the sting out of the increasing power costs, which will be addressed through a new energy package to give households and small businesses some relief.
MPs and senators were recalled to Canberra for a special session of parliament on Thursday to debate the government’s package, as it will now sail through both houses after Anthony Albanese secured the Senate support of the Greens, David Pocock, and the Jacqui Lambie Network.
Opposition Leader Peter Dutton has confirmed the Coalition will not support the Bill, saying it would be “catastrophic” for Australian economic policy.
Once passed, gas prices will be capped at $12 a gigajoule for 12 months, which the government says will slash power bills by about $230.
The Queensland and NSW governments will also enforce a cap on coal for the same amount of time, at $125 a tonne.
The package also includes $1.5 billion of additional relief to small businesses and some households.
In introducing the Bill in the House on Thursday morning, Dr Chalmers said without urgent market intervention, retail gas prices were tipped to increase by a further 20 per cent and electricity prices by 36 per cent in the next financial year.
“That’s why urgent action is needed … And when we vote today, every member of this place will make a choice,” he said.
“To help Australians with rising energy bills – or to make it even harder for them.”
“To save Australian jobs – or to surrender them. “
“We choose to protect households and small businesses. We choose to defend our local industries. And we choose to save local jobs.”
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