Anthony Albanese has refused to promise power bills will be cheaper for households under Australia's freshly announced climate action for the coming decade.

Labor unveiled its 2035 climate target on Thursday, aiming to reduce greenhouse gas emissions by between 62 and 70 per cent compared to 2005 levels.

While emissions may be falling, Mr Albanese isn't repeating a pledge made prior to the 2022 election that power prices would also go down.

Asked whether energy would become cheaper with the rise of renewables, the prime minister declined to guarantee a drop in prices.

"The modelling is out there, and you can see the modelling," he responded on Friday.

"I can guarantee that the cheapest form of new energy is renewables."

The Climate Change Authority cited Australian Energy Market Comm

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