ACOSS is calling on the Federal Government to intervene in the energy market as a matter of urgency to bring down energy prices and inflation and relieve unbearable cost of living pressures – especially for those on the lowest incomes.
ACOSS CEO Dr Cassandra Goldie said
“Predicted energy price rises of 56% over the next two years will be impossible for people on low incomes who are already struggling with the high cost of housing, fuel and food.”
“People on the lowest incomes do not have anything left in their budgets to cut back on and are at breaking point.
“We are worried about what consequences this leaves for people, including debt, disconnection, or homelessness. These are unacceptable choices to be made in such a wealthy country.
“In addition to increasing Jobseeker and related payments to at least $73 a day and providing energy debt relief, the Government must intervene in the energy market by putting a cap on domestic wholesale gas prices, implementing a super profits tax on gas exports and establishing a prospective domestic gas reserve.
“These measures will relieve pressure on domestic gas and electricity prices helping ease inflation and energy bills.
“The revenue from the super profit tax can be used to accelerate the transition to clean energy and invest in energy efficiency and solar energy upgrades to low-income households.
“People on the lowest incomes should not be forced to go without food and heating or cooling while gas companies are making eye watering profits off public resources.”