New analysis has revealed Labor is set to officially break its election promise to reduce household electricity bills by $275 unless consumers are assured of a $1,238 reduction in the draft Default Market Offer soon to be released.

Labor was elected on a promise that it would reduce household electricity bills by $275 but instead Australians are now paying among the most expensive bills in the world.

The Coalition’s Climate Change and Energy Spokesperson Ted O’Brien said the moment of truth is fast-approaching for the Labor government.

“Anthony Albanese and Chris Bowen have been dodging questions about their lie of a $275 reduction in household power bills for nearly two years, giving struggling Australian households false hope that prices are going to dive and their lives will be made easier.”

“Once the DMO is released, there will be nowhere left for Labor to hide.”

“If Australians are not assured of a reduction in household electricity bills by up to $1,238 in coming weeks, it will be time for the Prime Minister to front up and apologise.”

The upcoming draft DMO, released by the Australian Energy Regulator, will announce the ‘reference price’ for electricity bills in coming weeks for the 2024-2025 period.

While the outcome of the DMO remains unclear, new analysis has revealed that anything less than a $1,238 decrease in energy bills will mean that Labor has officially broken its $275 price promise.

Shadow Minister for Energy Affordability and Western Sydney, Melissa McIntosh said skyrocketing energy bills are at the heart of Labor’s self-imposed cost-of-living crisis.

“Soaring energy bills are at the centre of the Albanese Labor Government’s cost of living crisis impacting everyday Australians,” Ms McIntosh said.

“A Western Sydney food charity has told me that as well as feeding people in need, they have even paid overdue electricity bills for some local families, who are struggling to keep up with groceries, energy costs and day-to-day living expenses.

“Manufacturers and small businesses are closing at rapid pace. One Western Sydney manufacturer says their energy bills are up 100% from $200,000 to $400,000. This is just not sustainable for Aussie businesses.

“Despite people doing it tough right across the country, not one Australian has been given the $275 cut in their energy bill as promised by the Prime Minister.”

Labor’s energy price lie is symptomatic of its failing suite of energy policies.

• Labor is falling short of its 43% emissions reduction target; in fact, for the first time in years Australia’s emissions are increasing not decreasing.

• Labor’s 82% renewable target is not achievable as renewable deployment runs at half the required pace and investment in renewable generation projects fall by around 40%.

• Labor promised EVs would constitute 89% of new vehicle sales by 2030 but its department estimates it at 27%.

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