Government announces additional energy rebate for households! Here's how you can benefit from it
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As the cost of living continues to rise, Australians have been feeling the pinch even on their bills.
In response, the government has announced new proposals for the federal budget, including relief rebates to provide some financial respite for households across the nation.
The federal government announced additional energy bill rebates to be distributed for the next six months.
This measure came as a pre-election promise and was intended to soften the blow of expected price hikes in energy costs.
The $150 energy relief could offer some cushion against the financial strain many are experiencing.
This decision followed widespread criticism that Prime Minister Anthony Albanese did not fulfil his previous election pledge to reduce power prices by $275.
Despite this, the government has been gearing up to distribute more rebates, albeit for a limited time.
The new rebates will be delivered in two $75 instalments each quarter, providing a total of $150.
This rebate was a reduction from the previous rebate amount of $300.
Initially, the Australian government announced a $300 energy rebate for all households and a $325 rebate for eligible small businesses, starting 1 July 2024.
These rebates were set to expire in July 2025 but should now be extended until the end of the year to help families cope with the anticipated price increases.
Prime Minister Anthony Albanese emphasised the importance of this relief.
'We are going to take a further $150 right off your power bill because helping your family budget is our number one priority,' the Prime Minister stated.
'This is another cost of living relief measure that my Government is delivering for Australians while putting downward pressure on inflation.'
'Peter Dutton opposed the $300 energy bill relief to households. His only plan for energy is a $600 billion nuclear scheme that he will cut Medicare to pay for,' Prime Minister Albanese also shared.
The extension of the energy bill rebates could cost taxpayers $1.8 billion over the next four years.
However, the $150 rebate should not be a cash handout; it is a credit that would appear on electricity bills.
Eligible households will receive quarterly instalments starting July this year.
All Australian households that receive an electricity bill and are connected to the grid are eligible, including those in external and non-self-governing territories.
Energy retailers will automatically apply the rebate, so consumers won't need to take any action to receive it.
However, the opposition criticised the government's approach.
Shadow Minister for Climate Change and Energy Ted O'Brien MP highlighted Labor's failure to deliver on their $275 reduction promise and attributed the current energy crisis to the government's policies.
'Labor's energy crisis has pushed many Australians to the brink with 550 households plunging into hardship arrangements due to their energy bills every single week under the Albanese Government,' Shadow Minister O'Brien shared.
This announcement came at a critical time, as hundreds of thousands of Australians have been facing significant power price hikes.
The Australian Energy Regulator (AER) indicated that household power bills could rise between 2.5 and 8.9 per cent, depending on location.
Small business customers could see an increase between 4.2 and 8.2 per cent.
Treasurer Jim Chalmers stated that this measure should directly reduce headline inflation by around half of a percentage point in 2025.
The rebate could also reduce household bills by an average of 7.5 per cent nationally compared to bills without the rebate.
'We are providing immediate relief on energy bills now while we continue to progress the overdue reform needed to deliver the modern, affordable and reliable energy grid Australians deserve,' Treasurer Chalmers said.
'Our economic plan is all about finishing the fight against inflation, providing responsible cost of living relief and building a stronger and more productive economy.'
In 2024, electricity prices fell by 25.2 per cent—a stark contrast compared to a mere 1.6 per cent without the rebates.
Keep an eye on your electricity bills for the automatic application of the $150 energy relief rebate.
It's a step towards easing the burden of rising energy costs and keeping your family budget in check.
What do you think about these new rebates? Will they be a significant help for your household? Please share your thoughts and opinions with us in the comments below.
In response, the government has announced new proposals for the federal budget, including relief rebates to provide some financial respite for households across the nation.
The federal government announced additional energy bill rebates to be distributed for the next six months.
This measure came as a pre-election promise and was intended to soften the blow of expected price hikes in energy costs.
The $150 energy relief could offer some cushion against the financial strain many are experiencing.
This decision followed widespread criticism that Prime Minister Anthony Albanese did not fulfil his previous election pledge to reduce power prices by $275.
Despite this, the government has been gearing up to distribute more rebates, albeit for a limited time.
The new rebates will be delivered in two $75 instalments each quarter, providing a total of $150.
This rebate was a reduction from the previous rebate amount of $300.
Initially, the Australian government announced a $300 energy rebate for all households and a $325 rebate for eligible small businesses, starting 1 July 2024.
These rebates were set to expire in July 2025 but should now be extended until the end of the year to help families cope with the anticipated price increases.
Prime Minister Anthony Albanese emphasised the importance of this relief.
'We are going to take a further $150 right off your power bill because helping your family budget is our number one priority,' the Prime Minister stated.
'This is another cost of living relief measure that my Government is delivering for Australians while putting downward pressure on inflation.'
'Peter Dutton opposed the $300 energy bill relief to households. His only plan for energy is a $600 billion nuclear scheme that he will cut Medicare to pay for,' Prime Minister Albanese also shared.
The extension of the energy bill rebates could cost taxpayers $1.8 billion over the next four years.
However, the $150 rebate should not be a cash handout; it is a credit that would appear on electricity bills.
Eligible households will receive quarterly instalments starting July this year.
All Australian households that receive an electricity bill and are connected to the grid are eligible, including those in external and non-self-governing territories.
Energy retailers will automatically apply the rebate, so consumers won't need to take any action to receive it.
However, the opposition criticised the government's approach.
Shadow Minister for Climate Change and Energy Ted O'Brien MP highlighted Labor's failure to deliver on their $275 reduction promise and attributed the current energy crisis to the government's policies.
'Labor's energy crisis has pushed many Australians to the brink with 550 households plunging into hardship arrangements due to their energy bills every single week under the Albanese Government,' Shadow Minister O'Brien shared.
This announcement came at a critical time, as hundreds of thousands of Australians have been facing significant power price hikes.
The Australian Energy Regulator (AER) indicated that household power bills could rise between 2.5 and 8.9 per cent, depending on location.
Small business customers could see an increase between 4.2 and 8.2 per cent.
Treasurer Jim Chalmers stated that this measure should directly reduce headline inflation by around half of a percentage point in 2025.
The rebate could also reduce household bills by an average of 7.5 per cent nationally compared to bills without the rebate.
'We are providing immediate relief on energy bills now while we continue to progress the overdue reform needed to deliver the modern, affordable and reliable energy grid Australians deserve,' Treasurer Chalmers said.
'Our economic plan is all about finishing the fight against inflation, providing responsible cost of living relief and building a stronger and more productive economy.'
In 2024, electricity prices fell by 25.2 per cent—a stark contrast compared to a mere 1.6 per cent without the rebates.
Keep an eye on your electricity bills for the automatic application of the $150 energy relief rebate.
It's a step towards easing the burden of rising energy costs and keeping your family budget in check.
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