Government stands by election promise to cut electricity bills despite energy crisis

Labor has renewed its pledge to cut energy bills by $275 a year, even after a week of turmoil in the Australian market.

According to the Australian Energy Market Operator (AEMO), wholesale energy prices were up 141 per cent in the first quarter of 2022 compared with last year. Source: SBS News

The Labor government is standing by the modelling it took to the May federal election promising to slash electricity bills by $275 a year.

The renewed pledge came after a week of turmoil in the energy market, which forced the key regulator - the Australian Energy Market Operator (AEMO) - to take over the power grid to guarantee supply.

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