Up to $3 billion in promised power price relief for householders will be rebadged as a cost-of-living centrepiece in the May budget, after design complexities and disagreements pushed back the intended rollout date beyond April.

The payments will be coupled in the budget with a “meaningful and substantial package” to subsidise low-income households to move away from gas and electrify their homes. These subsidies were a demand by the Greens in return for their support for price caps on gas and coal.