Treasurer Jim Chalmers has defended the government’s pledge to lower electricity prices by a third. He said:

‘If you look at the inflation numbers for the last year to the end of 2024, what we saw – that electricity prices were down a little over 25 per cent. And lest you want to think that that is all the rebate, most of that is the rebate, but they still would have gone down a bit over 15 per cent absent the rebate.