The inquiry into Australia's rising electricity prices is welcome news for both consumers and the clean energy industry, according to the Clean Energy Council. Clean Energy Council Chief Executive David Green said rising electricity prices could only be addressed through political collaboration and a genuine will to address the issue in good faith for the benefit of all consumers.

"The news that all sides of politics will work together on this issue is extremely welcome. There is no silver bullet solution to rising power bills, but the kinds of steps that we have seen in Parliament are very much in the right direction," Mr Green said.

The Australian Parliament also passed the Greenhouse and Energy Minimum Standards Bill and a progress report was released on the National Energy Savings Initiative - a policy designed to help consumers save on their bills through and reduce peak electricity demand.

Mr Green said energy efficiency was one of the most effective policy solutions that governments could introduce to both reduce emissions and protect consumers from rising electricity bills.

"Although all sides of politics recognise the value of using energy more efficiently, the devil is well and truly in the detail. Brokering a coordinated national solution to energy efficiency across jurisdictions remains a substantial challenge, but it was extremely heartening to see bipartisan support for today's Greenhouse and Energy Minimum Standards Bill in the Parliament," he said.

Mr Green said a smarter energy system was required which empowered consumers to make more efficient use of the power we all need to use.

"The inquiry is a great opportunity for the renewable energy and energy efficiency sectors to drive real change in the market, removing the barriers in the national framework to their ongoing development."