Media release - Labor's $275 reduction promise officially broken

Melissa McIntosh MP
Shadow Minister for Energy Affordability
Shadow Minister for Western Sydney
Federal Member for Lindsay

Labor’s $275 energy reduction promise officially broken

Prime Minister Anthony Albanese and his Energy Minister Chris Bowen promised Australians that by 2025, household energy bills would be reduced by $275. Today, on the first day of the year, this pledge has officially been broken.

It has been more than three years since the commitment was made, and the Coalition has always known the guarantee would not eventuate. Australian families, small businesses and heavy industry are paying some of the highest prices globally for power. Without cheap and reliable energy, our country will continue to suffer.

Shadow Minister for Energy Affordability, Melissa McIntosh said households and businesses have been financially ravaged due to the Albanese Labor Government’s reckless renewables-only approach to energy policy.

“The energy and cost of living crises are crippling everyday Australians. Many mums and dads are struggling to keep the lights on at home. It is time to ask the government if they really think Aussie families are better off with the high increases in costs for energy, petrol, groceries, insurance, rent and mortgages.

“Western Sydney households are now paying $1,000 more than Labor promised for power. Such an increase in three years is extraordinary, and unaffordable. The number of electricity and gas customers in hardship has increased by 79% and 86% respectively in the last 2 years. An additional 560 families are entering hardship arrangements with their energy retailer each week since Labor took office.

“Local small and family businesses are not immune to the pressures facing our economy thanks to Labor. Small business insolvencies are at record levels under this Prime Minister’s watch as they are unable to afford the big bill that comes with the renewables-only pathway.

“We need cheap, consistent and clean 24/7 baseload energy to power our homes and Aussie Made manufacturers. We need nuclear power to stabilise our energy system and more gas supply to bring prices down."

ENDS