Yearly Power Bills To Fall By $400 From 2020

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The 2018-19 budget has revealed that annual power bills will fall by $400 on average for every Australian household from 2020.

This estimate comes from the National Energy Security Board and will follow the introduction of the national energy guarantee.

The government has also pledged to maintain an achievable reduction at 26-28 per cent - as opposed to the 45 per cent that the opposition were asking for. The government claims that a reduction that high would have resulted in an increase in electricity prices.

Here is the entire energy section from the Budget speech.

The National Energy Security Board estimates annual power bills will fall by $400 on average for every Australian household from 2020, following the introduction of our national energy guarantee.

We will maintain our responsible and achievable emissions reduction target at 26-28 per cent, and not the 45 per cent demanded by the Opposition. That would only push electricity prices up.

And we will not adopt the 50 per cent renewable energy target demanded by the Opposition that will also only put electricity prices up.

All energy sources and technologies should support themselves without taxpayer subsidies. The current subsidy scheme will be phased out from 2020.

And we will keep the pressure on the big energy companies to give you a better deal. Already this has led to households saving several hundred dollars a year.The National Energy Security Board estimates annual power bills will fall by $400 on average for every Australian household from 2020, following the introduction of our national energy guarantee.

We will maintain our responsible and achievable emissions reduction target at 26-28 per cent, and not the 45 per cent demanded by the Opposition. That would only push electricity prices up.

And we will not adopt the 50 per cent renewable energy target demanded by the Opposition that will also only put electricity prices up.

All energy sources and technologies should support themselves without taxpayer subsidies. The current subsidy scheme will be phased out from 2020.

And we will keep the pressure on the big energy companies to give you a better deal. Already this has led to households saving several hundred dollars a year.