Prime Minister Anthony Albanese announced today that Australian households and small businesses will be provided up to $1.5 billion in power bill relief amid rising energy prices. This will start next April at the earliest and will be temporary.
The agreement came following a meeting of National Cabinet held earlier today.
National Cabinet also agreed on a maximum price ‘cap’ for coal ($125 per tonne) and gas ($12 per gigajoule). Federal Parliament will be recalled next week to pass laws enforcing the price caps.
