A plan to reduce power bills by around $400 a year is receiving broad support across Coalition ranks.

The Australian Competition and Consumer Commission (ACCC) is proposing a range of measures to clamp-down on retailers and create more competition in the market.

Resources Minister Matt Canavan tells Michael McClaren there’s no reason Australia can’t prosper with the resources we have.

“One of the reasons we’re in this mess Michael is because we’re not using our resources, we export them to the rest of the world.

“We’ve got this crazy situation now where electricity prices are lower in the markets that we export our coal, gas and our uranium to.”

Senator Canavan believes the government is making headway with its energy policies.

“Our focus is laser-like on getting power bills down.

“That is why, as Resources Minister last year, I put in place regulations that control exports of gas. That has helped bring down gas prices by 25%.”

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