REVISED TURNBULL GOVERNMENT ENERGY PLAN:
* Government won’t bring in legislation for the National Energy Guarantee to parliament this week, because it lacks numbers to pass it. This means no immediate action on cutting emissions.
* “Default market offer” to give consumers a clear picture of how much they should be paying for their electricity. Saving for households could range between $183 and $416 a year. Average small business to save $561 to $1457.
* ACCC to get new powers to step in where there has been an abuse or misuse of market power by big electricity companies, including possible break-up of companies in worst cases.
* Government will underwrite new power generation.
* Talks to continue with the states on the reliability guarantee, which needs to be in place by July 2019.