Final instalment of $300 rebate is being distributed—no extensions confirmed
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As a new month begins, many are preparing for the conclusion of a financial relief measure that has helped ease certain costs.
The final $300 rebate is set to be distributed from 1 April. Households are urged to plan ahead as no extension has been confirmed.
With this chapter coming to a close, those who have benefited must adjust to the change. Some have already received the full amount, while others will see the last instalment soon—serving as a reminder that such assistance doesn’t last forever.
Recent research from Canstar Blue indicates that 54 per cent of Australians are not ready for the hike in their energy bills once the federal rebate concludes.
This concern is heightened by the fact that benchmark electricity prices could increase soon, with the Australian Energy Regulator poised to release its draft default prices.
Sally Tindall, Canstar data and insights director, has pointed out that while the temporary rebate has effectively kept energy bills at bay since mid-last year, the clock is ticking, and reality is about to set back in.
'The last round of the federal government’s rebate is set to land in most people’s electricity accounts from the start of next month,' she said.
'After this, it's back to reality unless the government chooses to extend this relief.'
The looming end of the rebate has sparked a desire among more than 80 per cent of Aussies for the federal energy rebate to be extended, with 34 per cent advocating for its continuation with a means test applied.
The rebate has had a significant impact, with electricity costs dropping by 9.9 per cent in the December quarter and 25.2 per cent year on year.
Without the rebates, the Australian Bureau of Statistics found that prices would have seen a 0.2 per cent increase in the quarter.
But fear not; there are still ways to mitigate the sting of rising energy costs.
Switching electricity providers can be a good move to 'inject relief' into your budget.
Canstar Blue's findings suggest that a Sydney-based household could save up to $386 a year by switching from an average-priced plan to one of the cheapest available.
Similarly, households in Melbourne and Brisbane could save $319 and $445, respectively.
Tindall advises not to stop at electricity.
'Put your gas, your internet, even your phone plan under the microscope to see where you can cut costs,' she suggested.
By tallying up your monthly savings and setting aside the extra cash, you can create a buffer for when the full weight of your real electricity bill becomes apparent.
Remember, companies are mandated to inform you if a cheaper plan is available on your bill every three to four months.
Take advantage of government comparison sites like Energy Made Easy and Victorian Energy Compare to compare electricity rates for Victorian households.
Don't hesitate to call your existing retailer and negotiate a better deal.
As we bid farewell to the energy rebate, we must take proactive steps to manage our expenses.
There are ways to soften the blow of the rebate's conclusion, whether by switching providers, renegotiating plans, or simply being more energy-conscious.
Have you found a way to reduce your energy bills? Have you switched providers or negotiated a better deal? Let us know in the comments below, and let's help each other navigate these changes together.
The final $300 rebate is set to be distributed from 1 April. Households are urged to plan ahead as no extension has been confirmed.
With this chapter coming to a close, those who have benefited must adjust to the change. Some have already received the full amount, while others will see the last instalment soon—serving as a reminder that such assistance doesn’t last forever.
Recent research from Canstar Blue indicates that 54 per cent of Australians are not ready for the hike in their energy bills once the federal rebate concludes.
This concern is heightened by the fact that benchmark electricity prices could increase soon, with the Australian Energy Regulator poised to release its draft default prices.
The final $300 electricity rebate is being distributed with no extension confirmation. Credit: Jamie Farrant / iStock
Sally Tindall, Canstar data and insights director, has pointed out that while the temporary rebate has effectively kept energy bills at bay since mid-last year, the clock is ticking, and reality is about to set back in.
'The last round of the federal government’s rebate is set to land in most people’s electricity accounts from the start of next month,' she said.
'After this, it's back to reality unless the government chooses to extend this relief.'
The looming end of the rebate has sparked a desire among more than 80 per cent of Aussies for the federal energy rebate to be extended, with 34 per cent advocating for its continuation with a means test applied.
The rebate has had a significant impact, with electricity costs dropping by 9.9 per cent in the December quarter and 25.2 per cent year on year.
Without the rebates, the Australian Bureau of Statistics found that prices would have seen a 0.2 per cent increase in the quarter.
But fear not; there are still ways to mitigate the sting of rising energy costs.
Switching electricity providers can be a good move to 'inject relief' into your budget.
Canstar Blue's findings suggest that a Sydney-based household could save up to $386 a year by switching from an average-priced plan to one of the cheapest available.
Similarly, households in Melbourne and Brisbane could save $319 and $445, respectively.
Tindall advises not to stop at electricity.
'Put your gas, your internet, even your phone plan under the microscope to see where you can cut costs,' she suggested.
By tallying up your monthly savings and setting aside the extra cash, you can create a buffer for when the full weight of your real electricity bill becomes apparent.
Remember, companies are mandated to inform you if a cheaper plan is available on your bill every three to four months.
Take advantage of government comparison sites like Energy Made Easy and Victorian Energy Compare to compare electricity rates for Victorian households.
Don't hesitate to call your existing retailer and negotiate a better deal.
As we bid farewell to the energy rebate, we must take proactive steps to manage our expenses.
There are ways to soften the blow of the rebate's conclusion, whether by switching providers, renegotiating plans, or simply being more energy-conscious.
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Final $300 instalment for Australian household !
