LOWER POWER PRICES COMING FOR VICTORIA
Families and small businesses are set to benefit from big
savings under the Morrison Government’s new plan for affordable and reliable
The Morrison Government will:
• Stop the price gouging by the big energy companies by banning sneaky
late payment penalties, requiring them to pass on savings in wholesale prices
to customers, strengthening the regulator’s power to crack down on dodgy,
anti-competitive practices, and shining a spotlight on energy companies’
rorting through ‘gold plating’ their networks. We will take a big stick to the
big energy companies to stop the big rip offs.
• Create a price safety net to protect customers and remove the loyalty
tax on those who have stayed with their energy company or don’t have time to
shop around for a better deal. A fairer default price will give customers
transparency and clarity, providing relief from confusing and often more
expensive standing offers. Median standing offers in Victoria can be up to $652
per year more expensive than the cheapest market offer for households and up to
$2941 per year more for small businesses.
• Back investment in reliable generation which will improve competition,
lower prices and guarantee reliable supply. We know that renewables are only
cheap when the sun is shining and the wind is blowing. The Government will
support projects that reduce wholesale electricity prices, support the
reliability of the grid and increase competition.
• Support reliable power by requiring energy companies to sign contracts
guaranteeing enough energy to meet demand. This will prevent blackouts and stop
their disastrous impact on local economies across our great state of
Victoria.Deputy Leader of The Nationals and Senator for Victoria, Bridget
McKenzie, has welcomed the Government’s strong action to lower power prices
while keeping the lights on.
“Households and small businesses across Victoria are
struggling with rising power prices. We all know that negotiating with energy
companies can be time-consuming and frustrating at the best of times,
Australian consumers deserve better.
“Our plan will put consumers back in charge by cracking down
on dodgy practices, supporting investment in new generation and guaranteeing
reliable supply,” Senator McKenzie said.
Senator McKenzie also called on the Victorian Labor
Government, desperate to save their inner-city Melbourne seats from the Greens,
to abolish their 50% Renewable Energy Target. The VRET will overwhelm the
electricity market with intermittent, unreliable generation and push up power
Since 2013, the Coalition Government has abolished the
carbon tax, reined in the power of the electricity networks, secured better
deals for 1.6 million households and provided $269 million for one-off Energy
Assistance Payment to age and disability support pensioners, single parent
families and veterans.
In contrast, Labor and their plan on introducing a 50%
Renewable Energy Target and 45% Emissions Reduction Target. This reckless
policy will damage the local economy and be paid for by every energy user in