Coalition squanders 'simple' energy choice

The coalition won't back proposed energy measures set to pass through parliament on Thursday despite Australia's regulator suggesting mere talk of intervention is already driving market prices down.

Both houses of parliament are meeting to debate the federal government's proposal to cap gas at $12 a gigajoule, introduce a mandatory code of conduct for the gas market and roll out power bill support for welfare recipients.

While Labor has a majority in the lower house, the Greens and independent senator David Pocock confirmed they would side with the government in the Senate.

Opposition Leader Peter Dutton said his party backed relief measures but wouldn't back the bill as it doesn't support market intervention.

"The government is more interested in the political advantage than trying to help families … we don't support market intervention that is going to disrupt investment into our country," he told reporters.

"The fact is power prices will continue to go up and up and up under this government because they've got no idea what they're doing."

Mr Dutton claimed the coalition only received the proposed legislation at 8.45pm on Wednesday - just 12 hours before it hits parliament - although Energy Minister Chris Bowen disputed that claim.

"The opposition received an hour-long briefing two days ago from my department … they don't want to play ball, they don't want to be constructive, their talking points have basically been the gas companies' talking points," he told Seven.

"The shadow minister said on Sunday he'd read the bill and that was why he's voting against it … Peter Dutton said he hasn't seen the bill, so pick your argument."

In exchange for the Greens' support, the government has agreed to an additional support package in next year's budget to help low-income households and businesses switch from gas to electricity.

But Australian Energy Regulator chair Clare Savage said energy contracts for next financial year were already heading in the right direction, allaying fears prices are set to skyrocket.

She said government modelling showing prices would be $230 less than expected was likely around the mark.

"Since the government started talking about intervention in fuel markets in the October budget, the cost of one of those contracts has already fallen about 45 to 50 per cent in NSW and Queensland," she told ABC Radio.

"If these markets keep trading as they are right now, we should see an increase next year that's much lower than what we'd originally feared."

Treasurer Jim Chalmers has urged all MPs to be on the "right side" of solving the nation's energy woes.

"Today coalition MPs around the country have a choice: they can vote for cheaper power prices and more household assistance for families and businesses doing it tough or they can vote for higher energy prices and no help for families," he said.