The Turnbull government will ramp up pressure on the states and the federal opposition to support its national energy guarantee with new modelling confirming it would generate $120 per year in savings for households from 2020.
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| Prime Minister Malcolm Turnbull (right) and Energy Minister Josh Frydenberg are trying to ramp up pressure on the states to support the national energy guarantee. |
A coalition of 15 business, and environmental groups, as well as the Australian Council of Trade Unions have also backed the call for compromise to deliver the national energy guarantee, citing the need for investment certainty for the electricity sector.
Businesses could realise even larger savings than households under the proposed energy guarantee because of the reduction in wholesale energy prices - which could be 23 percent lower compared to business as usual - according to the new modelling by Frontier Economics that was commissioned by the Energy Security Board.
The household savings figure of $120 is slightly more than the original figure of $115 suggested when the guarantee was unveiled in October.
Read the story by James Massola in today’s Melbourne Age - “Josh Frydenberg releases new modelling to back energy guarantee savings claims.”
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