The cost of living crunch is real
The Australian government announced in early May 2023, as part of the Federal Budget, a $500 energy bill relief payment for eligible households in a bid to ease the financial burden on many Australians who are struggling with high power bills.
Eligible small businesses will get up to $650.
With peak electricity tariffs in some states going from $0.29 to nearly $0.60 from 1 July 2023 – the cost of living crunch is real and it is happening right now, particularly in relation to housing. Energy bills have become a major concern for many households across the country.
This $500 energy bill relief payment is such a welcome relief for eligible households however, this relief payment is a one-off payment. This means eligibility criteria may vary depending on where you live and this is not an ongoing support program.
What you need to do if you’re eligible for this payment
Households are not required to do anything right now if you’re eligible for this relief payment. In most cases, your electricity provider will automatically apply this bill relief to your account, reducing the amount you owe on your next payment.
Please note that where you reside determines how and when this occurs. Each state and territory may handle things differently, so it is best to contact your electricity provider/retailer.
Here’s what eligible households and small businesses will get in each state and territory.
ACT:
- Households – will receive a $175 annual energy rebate on their power bills
- Small businesses – will be able to access a $325 rebate
NSW:
- Households – will receive a $500 energy rebate on their power bills
- Small businesses – will be able to access a $650 rebate
Northern Territory:
- Households: will receive a $350 annual energy rebate on their power bills
- Small businesses: will be able to access a $650 rebate
Queensland:
- Households: will receive a $500 annual energy rebate on their power bills
- Small businesses: will be able to access a $650 rebate
South Australia
- Households: will receive a $500 annual energy rebate on their power bills
- Small businesses: will be able to access a $650 rebate
Tasmania:
- Households: will receive $250 per annum for two years
- Small businesses: will receive a total bill credit of $650 for 2023-24
Victoria:
- Households: will receive a $250 annual energy rebate on their power bills, in addition to the $250 Power Saving Bonus already open to all Victorians, providing $500 worth of bill relief in total
- Small businesses: will be able to access a $325 rebate
Western Australia:
- Households: will receive a $350 energy rebate on their power bills
- Small businesses: will be able to access a $650 rebate
Please visit www.energy.gov.au for more information.
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