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The Morrison government will promise to cut power prices by 25 per cent, which could save the average household up to $185 a year.

Energy Minister Angus Taylor will on Friday vow to reduce the spot price in the national electricity market to less than $70/MWh by the end of 2021, the Daily Telegraph reports.

“While reliability has been a priority for this government, our focus has always been on price and customers,” Mr Taylor told the Telegraph.

However, the savings are less than those promised under the coalition’s dumped National Energy Guarantee, which the government claimed would help drive electricity prices down by $550.

At least $150 of that saving would have flowed directly from the NEG policy.

Mr Taylor is due to make the power price pledge at a NSW Business Chamber event in Sydney.

Meanwhile, the energy minister and Labor’s energy spokesman Mark Butler are at odds over an election debate, with both claiming the other has refused an offer to discuss policy issues.

Mr Taylor said he had invited Mr Butler to Friday’s event in Sydney, while the Labor MP said he asked the minister to debate policy at the National Press Club.