Thousands of Australian families and businesses will be better off thanks to pressure on power companies from the Nationals in Government.

Starting this week, energy retailers have lowered their standing offer prices after the Government demanded customers be put first.

Deputy Prime Minister and Federal Nationals Leader Michael McCormack told Fairfax Media that pressure from the Nationals in Government would deliver lower power prices.

“This Government is committed to reducing cost-of-living pressures for regional Australians and cutting their energy costs and this will continue to be our focus,” Mr McCormack said. “On average NSW residential customers on standing offers will save $200 which is good news.”

However, there is more that can be done to help relieve those cost-of-living pressures.

Loopholes and dodgy late-payment fees are having an impact on one-in-four households. An average customer can end up paying $600 more a year just because they struggle to pay their electricity bill on time. This shameful practice must end.

The Government has also announced $131 million over seven years from 2018–19 (and $10.1 million per year from 2025–26) to support measures to improve energy affordability, reliability and sustainability, which includes funding to hold pricing inquiries, driving investment in new power generation and improving competition and affordability.

The Nationals believe Australians deserve cheaper, more reliable and cleaner power. Many Australian families and small businesses are now better off because of the actions this Government has taken. We are committed to delivering lower and fair power prices that make a real difference to household budgets, while we keep the lights on.