Electricity prices in several Australian regions are set to fall, helped by record renewable energy generation and the rollout of more low-cost clean energy, the government says.
The price cuts come amid continued disruption to global energy markets due to the conflict in the Middle East, which has pushed up international energy prices and heightened supply uncertainty.
The Australian government said its plan to provide cheaper, cleaner energy and a better deal for households aims to shield Australians from the pain of higher global energy prices.
The country's main energy grids recorded more than 50 percent renewable generation for the first time at the end of last year, pushing wholesale energy prices down and beginning to flow through to household electricity bills, Energy Minister Chris Bowen said last month.
As more renewable energy generation and storage facilities are rolled out, Australia is reducing its reliance on unreliable coal-based power generation and putting further downward pressure on bills, he said in a statement.
