Cabinet yet to agree on energy intervention

“Prime Minister Anthony Albanese says cabinet, which met today, has not made a decision and will need the cooperation of the states to do what it wants to do,” Mr Clennell said.

“But has promised for the first time today to make a significant dent in the budget estimates of a 50 per cent increase in power prices and a 40 per cent increase in gas prices in the next 18 months.

“You would hope this promise is worth more than the election promise - to reduce power bills by $275, which looks inevitably to be broken.”