Labor either ‘lied’ or don’t understand energy markets: Liberal MP

Shadow Assistant Minister to the Opposition Leader Simon Kennedy says the Albanese government’s promise to reduce power bills by $275 did not work because Labor “didn’t understand” how energy markets work or they “lied” to Australians. The default market offer for electricity prices has been released, indicating there will be price decreases across much of the country. From July, the benchmark price in New South Wales is expected to fall by between $66 and $137, depending on the provider. “While this is welcome, prices are still up 40 per cent,” Mr Kennedy told Sky News Australia. “Australia is a country with some of the largest energy resources in the world. “We should have some of the cheapest energy in the world, instead we are still left paying some of the highest prices in the OECD.”