Peter Dutton has laid the ground for a showdown with gas giants over plans to set aside the energy resource for Australian firms and households.
The coalition unveiled long-awaited modelling for its domestic gas reserve policy, forecasting a modest seven per cent reduction in gas bills and three per cent for electricity.
Gas companies would face a levy if they did not set aside the resource for domestic use, prompting anger from the sector.
"Are we here to line the pockets of big gas companies? No, I'm here to support consumers," Mr Dutton told reporters in Sydney on Wednesday.
"I want to bring the price of gas, electricity down and the cost of groceries down and the cost of construction."
Industrial customers are being promised a 15 per cent reduction in gas bills and a forecast eight per cent decrease in wholesale electricity prices.
Households were the priority for the plan and lower energy prices would lead to cost-of-living relief throughout the economy from the end of the year, Mr Dutton said.
"We can see an impact very quickly, and I think we can see an impact not just for households, but for industrial users, for commercial users, and right across the economy," he said.
"It depends on when people are contracted and what their individual arrangements are, but across the economy, we'll reduce the cost of gas and we start negotiations with the companies from day one."
Prime Minister Anthony Albanese dismissed the modelling while campaigning in Sydney, arguing the government had already worked to bring down the price of gas.
"The gas policy the coalition has is gaslighting the Australian public," he said.
"Gas prices were $30 when we came to office. They're now $13 to $14.
"These people think that the Australian people are like goldfish, that they don't remember."
The policy on energy comes after the coalition had repeatedly attacked the government on Labor's previous modelling that showed households would save $275 on their power bills.
But the forecasts were made before a spike in energy prices stemming from Russia's invasion of Ukraine in 2022.
The coalition's gas plan would also be dependent on legislation to set up the domestic reserve passing parliament if the opposition wins government on May 3.
Australian Energy Producers chief executive Samantha McCulloch said the modelling left unanswered questions.
"The policy would introduce price controls in the east coast gas market and would be yet another heavy-handed intervention that will drive away investment and risk exacerbating the supply pressures in the longer term," she said.
"Rather than increasing gas supply, the coalition's policy risks reducing domestic gas production."
Australia Institute executive director Richard Denniss welcomed the plan to impose levies on gas companies that prioritised exports rather than setting aside the resource for domestic use.
"Peter Dutton is rightfully arguing Australia has an abundance of gas and that all we need to do is to tax gas exports to ensure our gas flows first to Australian businesses and households," he said.
"This is a big shift."
The gas plan modelling was released on Tuesday night during the first leaders' debate of the election.
A group of 100 undecided voters gave the win to Mr Albanese but one in five couldn't decide which leader they preferred following the debate.
Visit AAP FactCheck's website to read our assessment of claims made in the election campaign and debate.
