The National Energy Guarantee (NEG) has cleared its highest hurdle at a crucial meeting in Sydney.

After fierce opposition from Labor states and territories, every jurisdiction has agreed to allow the Turnbull Government’s energy policy to progress to the next stage.

The policy will now be considered at a Coalition party room meeting in Canberra next week.

But do we really understand the framework of the policy and what it actually means for our power bills?

NSW Minerals Council CEO Stephen Galilee tells Chris Smith “I don’t think anybody truly understands.”

He says despite pushback, the NEG won’t bring down electricity prices, it will still keep bills lower if the policy weren’t in place.

“Well, it might not bring prices down to the extents its supporters are campaigning. It’s expected to bring down prices down further than if it were not in place.

“We should welcome that.”

Click PLAY below to hear the full interview