Coal companies will be required to provide cheaper feedstock for NSW power stations to help slash power bills as households cope with rising inflation.
NSW Treasurer and Energy Minister Matt Kean said the Albanese federal government had asked the state government to cap coal prices in order to place downward pressure on electricity costs, in response to soaring prices caused by the war in Ukraine.
"As a result of our efforts, federal Treasury analysis shows that future electricity prices for NSW have dropped by 41 per cent since the price caps were announced," Mr Kean said on Thursday.
