NSW Coalition announce $500m energy police

The policy will see every household in one state eligible for a $250 “bonus payment”, it marks one of the government’s most substantial policy proposals to date.

NSW Premier Dominic Perrottet has promised to slash energy bills should his government win re-election in March, in a half-a-billion dollar commitment that marks one of the government’s most substantial policy proposals to date.

Every household in NSW will be eligible for a $250 “bonus payment” from the statement if they seek a cheaper power contract through the Services NSW online comparison tool, the Premier announced on Sunday along with Treasurer Matt Kean and Deputy Premier Paul Toole.

Under the policy, households will still be eligible for the $250 payment even if they don’t switch plans, the government said.

NSW Premier Dominic Perrottet said households can have $250 just by comparing energy deals online. Picture: NCA Newswire /Gaye Gerard

“We know households are feeling the pinch right now and that’s why we will provide immediate bill relief as well as help families get a better energy deal,” Mr Perrottet said on Sunday.

“This $250 in short-term energy savings whilst at the same time ensuring NSW households can slash their bills in the future,” he said.

Mr Toole said the policy would help households develop habits that will go “well beyond” the $250 payment.

“This program isn’t just for today, it’s a simple way families right across NSW can save money long-term, by assessing their provider,” he said.

Mr Perrottet said households were “feeling the pinch” as cost of living pressures soared. Picture: NCA NewsWire / Gary Ramage

“The hard working people of NSW deserve to keep more of their hard-earned money, and this initiative will help develop habits which will go well beyond the $250 payment.”

Mr Kean said NSW Labor’s “talk of nationalising the network” would “spook” the industry.

Up to two million households are expected to take up the plan.

As voters in Australia’s biggest state head to the polls in March, soaring energy prices and cost of living pressures shape as the key issues.