Victoria to benefit the most from Greens-Labor deal on energy price cap

Environment Victoria has welcomed the energy price cap legislation that is passing through federal parliament today as a win for Victorian households after the Albanese government and the Greens agreed to a support package to switch households off gas to efficient electric appliances.

Environment Victoria CEO Jono La Nauze said:

“The federal government’s energy plan needed to deliver good energy outcomes for Victorians, as Victorian households use the most gas of any state and will suffer the most if gas companies continue raking in massive profits and driving up energy prices.

“Labor’s deal with the Greens ensures that electrifying Victorian households is prioritised – and offers assistance to low income households and renters. This will help insulate households from volatile international energy markets, while significantly reducing emissions from the energy sector.

“The amount of gas burned in Victorian households is astonishing and a package to support homes to switch to efficient electric appliances is the smartest and most efficient way to address any supply shortfall, while also freeing up gas for industry.

“A recent report from Renew found homes that use gas will face much larger bill increases than all-electric homes over the next two years. Households that use gas for heating, cooking and hot water could face bill increases of $1900 over the next two years while efficient electric homes will face much smaller costs.

“In the longer term, Victorians can save thousands of dollars a year by switching away from gas to electricity, and even more by switching to solar.

“The energy crisis we are seeing right now demonstrates once again the urgent need to transition to clean energy and electrify households – this package helps Victorians get on with the job.”