Power bills have become a growing source of stress for Australian families and businesses. This report finds there are three key drivers behind Australia's high power prices. Expanding renewable energy, storage and transmission reduces exposure to volatile fossil fuel prices and lowers long-term costs for households and businesses. The report calls for governments to progress rolling out renewable energy and storage, and ensure the benefits are shared by everyone.

Key findings

• Expensive and polluting gas is the main reason electricity prices are so high.
• Ageing and polluting coal power stations are driving the biggest electricity price spikes.
• Millions of Australians are paying too much for electricity because the system penalises loyalty.
• Three in ten parents are struggling to afford basics like food, electricity and insurance.
• Clean electricity is already cutting pollution and power bills for many households across the system.
• Renewables and storage now provide, on average, nearly 45% of electricity in Australia’s main grid, and this share is growing rapidly.