A new report from the Australian Competition and Consumer Commission shows power prices have risen in real terms by 63 per cent over the past decade.
About 40 per cent of the rise has been due to the higher costs of poles and wires, with a quarter due to retail costs and margins, 20 per cent higher generation costs and one-sixth due to green costs.
Federal cabinet is on Monday expected to consider a national energy policy, which would be presented to the coalition party room in Canberra on Tuesday.
However, ACCC chairman Rod Sims says the key to better prices is people-power.
"If there's one thing people can do most immediately, it's call their electricity retailer as soon as possible, say to them, 'I want a better deal. If I don't get a better deal, I'm going to move my retailer'," he told reporters in Sydney.
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Mr Sims suggested lowering gas prices, helping businesses self-supply gas, and greater use of demand management such as turning down air-conditioners at peak times would also help.
The clean energy target would address only one of three elements of the power problem - carbon emissions - and not affordability and reliability, he said.
Asked whether the states should go it alone on energy policy, Mr Sims said he had no problem with states subsidising renewable energy such as solar, which in Queensland had saved some consumers $90 a year.
While the lack of a federal policy was causing uncertainty among some investors, there was still very strong interest in rolling out renewable energy and battery storage, he said.
Labor leader Bill Shorten said the government needed to back in a clean energy target, which Energy Minister Josh Frydenberg had previously stated could cut power prices by 10 per cent.
"We haven't changed our commitment to lower household energy prices, to lower energy prices for business and to take real action on climate change," Mr Shorten told reporters in Canberra.
However, Finance Minister Mathias Cormann said Labor shouldn't lock itself into support for a clean energy target without knowing the government's final decision.
"I think that (opposition energy spokesman) Mark Butler was particularly reckless yesterday, locking himself and the Labor Party into a position in relation to something that he hasn't seen yet," Senator Cormann said.
"Let's just wait and see what the reform proposal is that the government puts on the table and then let's have the conversation." Mr Shorten said Mr Turnbull should show some leadership and not listen to the "knuckle-draggers of the Right", such as former leader Tony Abbott who is advocating subsidies for coal-fired power.
