The Greens are calling for the regulation of state electricity prices by the end of the year to drive down the cost of energy.
NSW, Victoria, Queensland and South Australia should be given until the end of 2017 to re-regulate electricity prices, the Greens say.
And if the states fail to do so, the party wants the commonwealth to put the Australian Energy Regulator in charge of pricing.
"Deregulating electricity prices has failed. It is time the government stepped in and capped electricity prices," Greens MP Adam Bandt said on Tuesday night.
Under the Greens proposal, retailers would be required to provide a default standard offer based on the average regulated price in the ACT, above which retailers could not charge.
The cap would be determined by the states or the AER, and would result in prices in NSW, Victoria, SA and southeast Queensland being effectively frozen at or below 2017 levels in real terms, the Greens say.
They say based on a typical household, yearly bills are on average $2771 in SA, $2218 in Victoria and $2198 in NSW - all of which have been deregulated. This compares with $1576 in the ACT, which is still regulated.
The Greens proposals come on the eve of electricity company chiefs being hauled before the prime minister's office to outline how they can help lower prices.
Energy Australia, Momentum Energy, Simply Energy, Alinta Energy, Origin Energy, AGL and Snowy Hydro are expected to front up on Wednesday, together with peak body the Australian Energy Council.
Malcolm Turnbull says households are paying far higher electricity prices than needed because they aren't getting the best possible deals.
He blames a lack of transparency by retailers and the difficulty in switching providers.
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