Prime Minister Malcolm Turnbull’s energy policy, the NEG, aims to formulate a plan that puts Australia on the path to build its future energy network.

“While the NEG provides emission and reliability guarantees, I don’t believe it tackles the key element of power prices in a meaningful enough way,” Mr Gee said.

“To put it bluntly, I think the modelling on power price forecasts within the NEG is shaky.”

Mr Gee is one of a number of MPs who may cross the floor and vote against the policy in parliament.

“As a result of the failure of the NEG to deal with my concerns over sky-rocketing power prices, I’m reserving my right to cross the floor on the issue,” he said.

Mr Gee said people were being hit hard by power prices and he had “serious reservations” about the NEG having an impact on costs.

“It’s hitting pensioners, families and also local businesses. In short, high power prices are a jobs killer in regional areas,” he said.

“For many months I have been calling on the policy-makers within the federal government to look at ways of better addressing the issue of soaring power prices.”

Mr Gee attended two meetings with the Prime Minister this week to discuss how the NEG could be improved, but “unfortunately nothing has been resolved”.

“I’ve also asked for a copy of the legislation we are going to be voting on, but I haven’t been provided with a copy – which I was also disappointed with.”

Mr Gee said at the moment it looked like the system was being gamed by power companies who were “shorting the market”.

“What we are seeing is a massive transfer of wealth from individuals and companies to big power corporations,” he said.

“If we as a nation can’t do better than this and find a lasting solution to spiralling energy prices, then to me it will represent a failure of politics in this country.”