Electricity retailers say they are committed to passing on price cuts from the repeal of the carbon tax, but need time to work out the savings.
The Palmer United Party has reached a deal with the Abbott government to penalise gas and electricity companies that do not pass on savings quick enough.
But the deal did not come quickly enough to prevent PUP senators from joining with Labor and the Greens to vote down the repeal bills on Thursday.
The government will bring the bills back on for debate in the lower house on Monday with the new amendments.
Energy Retailers Association of Australia chief Cameron O'Reilly says his members had no concerns about scrutiny by the consumer watchdog and wanted to pass on savings as soon as possible.
"It appears the thrust of the PUP amendments is to ensure customers get the benefit of the carbon tax repeal," he told AAP.
"Customers will get the benefits the sooner both houses pass this legislation."
However he could not give a specific time frame on when the savings would flow through.
Electricity generators are the point of liability for the carbon tax and the tax is only one of several components of a customer's power bill, he said.
"It is complex to estimate the impacts," Mr O'Reilly said.
"But the whole industry has undertaken to ensure customers get the benefit of the carbon tax repeal and the sooner the legislation is passed that will happen."
One electricity industry figure said there was more nervousness about the extra administrative burden of the Palmer amendments than the penalties.
The Business Council said failure by the parliament to repeal the carbon tax next week would create significant uncertainty for businesses, especially electricity retailers, with flow-on consequences for consumers.
Delaying repeal beyond next week also risked not making it law by September 1, council president Catherine Livingstone said.
That would impose "huge costs" on the budget bottom line due to compensation arrangements under the legislation.
If the repeal bills are passed, the Australian Competition and Consumer Commission will have extra powers to make sure savings to businesses are passed through to consumers.
The consumer watchdog says it is seeking information from businesses that have made public statements about the impact of the carbon tax on their prices, including airlines.
It assessing that information, which will be in its report of monitoring activities for the June 2014 quarter.
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