Labor is worried the Turnbull government will use comments from the competition watchdog about the conflict between cutting power prices and cutting emissions to back away from a clean energy target.

Cabinet on Monday is expected to discuss the government's new energy policy, including whether to adopt a version of the clean energy target recommended by Chief Scientist Alan Finkel.

The coalition party room could examine the proposal on Tuesday.

A new report from the Australian Competition and Consumer Commission, released on Monday, highlights huge increases in power bills over the past decade which it says is putting unacceptable pressure on Australian households and businesses.

ACCC chairman Rod Sims cautioned the clean energy target was designed to cut emissions, but it was hard to say whether it would also bring down prices.

It was important to understand the trade-offs between the various objectives if the nation was to have an effective energy policy.

Labor frontbencher Pat Conroy says while the ACCC seemed ambivalent towards the clean energy target, he trusted the chief scientist and industry who were calling for it.

"This government will use the ACCC report as a cover to back away because they're craven and cowardly," he told reporters in Canberra.

Greens energy spokesman Adam Bandt says the ACCC had belled the cat about spiralling prices and "big companies gaming the system".

"If the government was serious about bringing down power prices it would use this report to re-regulate electricity prices," he said.

Government frontbencher Dan Tehan says the coalition's approach is all about affordability and reliability, although Finance Minister Mathias Cormann repeatedly insisted to ABC radio the clear focus was on these two objectives and cutting emissions in line with international commitments.