The Albanese government is determined to reassure alarmed households and small businesses that electricity price rises of 20 per cent to 30 per cent from July 1 aren’t as bad as they might have been.

Instead, Energy Minister Chris Bowen insists the government’s “absolutely vital” intervention in the market has significantly mitigated the draft default market offer released by the regulator on Wednesday – saying it has more than halved the increase anticipated last year.