I have today asked the Presiding Officers of the NSW Parliament to recall Parliament on Wednesday to consider important legislation to help ease energy bill pressure for households and businesses across our state.
I have consulted with the Leader of the Opposition and I thank him for his support.
The Energy and Utilities Administration (Amendment) Bill 2022 will enable the Government to place a temporary cap on the price of coal used for domestic electricity generation at $125 a tonne.
The legislation supports an approach agreed by National Cabinet to cap coal and gas prices to reduce pressure on electricity bills and aligns with measures passed in the Australian Parliament on Thursday 15 December.
The NSW Government has worked carefully with the Commonwealth to secure a package which will provide financial relief for NSW households and businesses facing increased energy costs while also supporting industry to ensure energy security across the electricity grid.
The cap on coal and gas prices will help drive down the cost of energy for households and businesses in NSW, with Commonwealth modelling showing that the caps will provide an estimated average saving of $230 per household.
The actions we take here in NSW will also deliver price relief for customers right across Australia.
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