CANBERRA households could save up to $300 per year in energy bills, if new laws are passed through the Assembly next week that will deliver energy efficiency savings to up to 70,000 households by 2015.

The “Energy Efficiency (Cost of Living) Improvement Bill 2012”, to be introduced by Minister for Environment and Sustainable Development Simon Corbell, will require electricity retailers to provide households with subsidised or free energy efficiency upgrades to their homes, helping to reduce cost of living pressures on household budgets and reducing carbon emissions in the ACT.

Upgrades include the installation of draught sealing and insulation, inefficient heaters, air conditioners and hot water systems.

“The new laws also require a minimum of 25 per cent of all households assisted to be low income households, providing further support to the most vulnerable people in our community,” Mr Corbell said.

“These new laws will implement the often simple, but important changes households can make to reduce the amount of energy they use on an annual basis, and the Labor Government has devised legislation that delivers outcomes while reducing the cost of living burden faced by many Canberra households.

“The new scheme would be delivered by electricity retailers to their customers across the ACT from January 1, 2013 and the legislation will mandate a specific requirement to achieve energy savings that reduce carbon emissions by approximately 750,000 tonnes.”

Mr Corbell said the scheme had been developed following a comprehensive regulatory impact assessment and independent modelling of costs and benefits.

The Bill also provides for the scheme’s expansion to small and medium sized business.