Families and small businesses in Flinders will benefit from big savings under the Morrison Government’s new plan for affordable and reliable energy.
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 in the Flinders electorate.
Federal Member for Flinders, the Hon. Greg Hunt MP, has welcomed the Government’s strong action to lower power prices while keeping the lights on.
“I know families and small businesses on the Peninsula are struggling with rising power prices. Negotiating with energy companies can be time-consuming and confusing”.
“Our plan will take the pressure off families and small businesses and put customers back in charge by cracking down on dodgy practices, supporting investment in new generation and guaranteeing reliable supply,” Minister Hunt said.
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.