Under Angus Taylor, Australian households and businesses are continuing to struggle under rising power bills.
Labor welcomes the slim reductions through the ACCC recommendation of a default market offer, a policy Labor adopted before the Coalition.
However, as the ACCC notes, the default offers will only apply to less than 10 per cent of households.
What the ACCC have specifically called out is the Government’s lack of national energy policy which would reduce power prices, ensure reliability and bring down emissions, “The Australian Competition and Consumer Commission restates its support for the National Energy Guarantee as a settled policy framework."
Angus Taylor has failed to live up to Scott Morrison’s KPI as Minister for lower power prices; analysis from JPMorgan shows under the Morrison Government’s energy crisis wholesale electricity prices across the four NEM states - Victoria, South Australia, NSW and Queensland - rose to $83/MWh in August, up 12 per cent from June despite lower demand.
And prices are set to continue to rise - forward prices are now 29 per cent higher than a year ago, averaging $94/MWh.
Ever since the Liberals energy crisis started in 2015, wholesale electricity prices have risen 158 per cent.
This Government needs to stop believing its own talking points and listen to Australian businesses, industry, government agencies, and state Liberal and Labor governments which are crying out for energy policy certainty through the National Energy Guarantee.