Yahoo Finance Millions of Aussies to get $550 electricity bill rebate
The cost-of-living rebate will be applied from July 1.
Queenslanders will receive a $550 electricity bill rebate next month, as part of a new cost-of-living measure announced in today’s state budget.
The government said this is the most significant electricity bill support package announced by any state or territory and more than doubles the federal support package.
As part of the scheme, all Queensland households will automatically receive a $550 cost-of-living rebate, while around 600,000 vulnerable households will get a higher $700 rebate.
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This will be in addition to the existing $372 rebate for vulnerable households under the Queensland Electricity Rebate Scheme, bringing total rebates for this group to $1,072.
“Last year the Government introduced a record cost of living relief,” Premier Annastacia Palaszczuk said.
“But as inflation has continued to put pressure on Queensland households, we’ve increased its cost of living relief for everyone including $550 cost-of-living rebate.”
Last year, Queensland households received $175 cost-of-living rebate, which was also applied as a credit on power bills.
How to get the rebate
The rebate will be automatically credited to electricity bills on a quarterly basis starting from July 1, 2023. The exact timing will depend on your retailers’ system requirements and individual billing cycles.
To be eligible for the relief, customers must be separately charged for their electricity. Aussies who don’t receive a separate bill (e.g. where electricity is included as part of their rent) won’t be eligible for the payment.
Electricity prices to soar
Electricity prices will rise by between 20 to 25 per cent from July 1 for those in South-East Queensland, New South Wales and South Australia who are on the default offer. Prices will also increase by 25 per cent for Victorian customers.
This will cost Queenslanders an estimated $349 more for those without a controlled load, and $402 for those with a controlled load.
Last week, AGL and Origin Energy also announced they will pass on the higher prices to customers on variable rate market contracts. Prices will rise between 20 and 29 per cent from July 1 and August 1 for those in New South Wales, South Australia, Queensland and Victoria.
The government said its cost-of-living relief package will more than offset the typical household electricity bill increase in 2023-24. In some cases, households will have no bills or be in credit.
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