As Australian households worry about keeping the lights on this winter, a new deal struck across the ditch promises a future of lower power prices and cleaner energy.
Australia and New Zealand have agreed to work together closely to seize the opportunities of the transition to renewable energy and take action on climate change.
Treasurer Jim Chalmers and Energy Minister Chris Bowen travelled to Wellington to ink the joint statement, which is also expected to help increase the number of electric cars in the Australasian market.
Dr Chalmers said the agreement would signal to investors that they could be confident in the security of each nation's clean energy sectors.
"This agreement will mean more electric vehicles, more jobs and more investment in the transformation to cleaner, cheaper energy in both nations," he said.
"This is about aligning our efforts - on investment, sustainable finance and electric vehicles - to build a more prosperous and stable region for the future on the foundations of shared economic aspiration.
"It’s a big step forward in our strategy to ensure Australian industry and Australian workers are best placed to benefit from growing demand for cleaner, cheaper energy and the opportunities that will create."
Despite promises of a future decrease in power bills, 52 per cent of Australian households are concerned about how they are going to meet costs in the short term.
A sentiment survey published by Energy Consumers Australia showed small businesses were also anxious, with 59 per cent suffering bill shock, compared with 48 per cent a year ago.
"High inflation has sent the cost of living soaring and many Australian households are clearly feeling the pinch," Energy Consumers Australia interim CEO Jacqueline Crawshaw said on Thursday.
"Consumers are also aware that there is more pain on the horizon, with energy prices set to rise 20 to 30 per cent across the country."
The survey, which is conducted every six months, canvassed the views of more than 2200 households and 500 small businesses.
It found consumers are increasingly concerned about future energy market outcomes and have lower confidence in the benefits of technology and future energy reliability.
Less than half of households, or 41 per cent, feel confident technological advances in the next five years will help them better manage energy supply and costs, down from 52 per cent a year ago.
“The energy bill relief measures announced in the recent federal budget will go some way to easing the pressure on eligible households," Ms Crawshaw said.
"But a key to restoring consumer confidence is to ensure people have a sense of control over their energy use, and ability to bring their bills down."
