Better deal on power bills

HOUSEHOLD energy bills will drop by an average of $400 by 2020 and consumers will be able to more easily compare retailers to get better deals.

The government said consumers should be able to safely share their personal data with comparison services to help them closely examine the deals available and score better discounts on their bills.

The government will spend $37.6 million over five years to help improve affordability, reliability and sustainability in the energy sector.

The Australian Energy Market Commission will also crackdown on misleading discounting practices by electricity retailers that often lead to consumers becoming confused about the charges.

Consumer watchdog, the Australian Competition and Consumer Commission, will continue its focus on the competitiveness of both the electricity and gas markets.

In the past year the ACCC has released a preliminary report on the electricity sector and three interim gas reports.