Angus Taylor fails to get price cut commitment from energy retailers

Offer of comparison rate for consumers falls short of call for lower prices by 1 January

Power retailers have advanced a proposal to standardise comparison rates for all customers but have given no undertakings they will lower prices by January, during a roundtable with the energy minister, Angus Taylor.

Taylor has claimed Wednesday's Sydney talks as a win because retailers had proposed voluntary action during "constructive discussions" by offering up a standardised rate, making it easier for consumers to "compare apples with apples" when they shop around between retailers for the best deal.