Australian households set to receive $1.5 billion in energy bill relief after law passed

The federal government's energy relief bill has passed both houses of Parliament. The legislation includes a $1.5 billion dollar household assistance package and a temporary cap on gas prices.

The energy relief bill passed the Senate, after support from independent senator David Pocock (right), crossbencher Tammy Tyrrell and the Greens party. Finance Minister Katy Gallagher (left) says the bill will help lower the cost of rising energy prices Source: AAP / LUKAS COCH/AAPIMAGE

Key Points

• Labor's policy plan to combat soaring energy prices passed the Senate, after support from the Greens, independent senator David Pocock and crossbencher Tammy Tyrrell.
• It also sets up $1.5 billion in energy bill relief measures for households and small businesses that are expected to cut $230 from power bills next year.
• An assistance package to help low-income households transition from gas to electric appliances was also secured.

The threat of market intervention is already having an impact on suppliers.

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