Unlock this simple trick to potentially double your $300 energy rebate
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As Australians grapple with the rising cost of living, the government's 2024 Federal Budget has thrown a lifeline in the form of a $300 energy rebate for every household.
This measure, set to kick in on July 1 this year, is a welcome relief for many, but with the average annual energy bill soaring over $1,700, more savings are needed.
Fortunately, there's a simple method that could help you double that rebate, and millions of Aussies could benefit from it.
The key to unlocking these additional savings lies in being proactive and shopping around for the best energy deal.
According to Canstar Blue, a comparison service, switching to the cheapest plan can result in significant savings.
'Switching to the cheapest currently available plan on every network on our database offered an opportunity to make the newly announced energy bill relief payment stretch further,' said Christine Seib, Canstar Blue’s Editor-in-Chief.
When you compare the average energy bill for each state and territory against the cheapest available plan, the potential savings are substantial.
For instance, in New South Wales, you could save anywhere from $310 to $439 annually by choosing the right provider.
Victoria's competitive market offers even greater savings. If you switch to Ausnet Services, you can avoid up to $476 in expenses.
Similarly, residents of the Australian Capital Territory (ACT), Queensland, and South Australia could see energy bill reductions of $380 to $441.
Before you switch providers, Canstar Blue said you need to consider a few things:
It is also pointed out that the government’s $300 rebate plan has a loophole.
People who own multiple properties may be eligible to claim more than one $300 energy rebate, provided their name is on the bills.
Treasurer Jim Chalmers clarified that the rebate will go to the person whose name is on the bill, meaning landlords with tenants won't receive the rebate twice if the tenant's name is on the bill.
However, the owner of a holiday home that isn't rented out would also receive a rebate for that property.
This is because the tax office does not currently share personal data with energy retailers, and changing this would be both time-consuming and costly.
'We would have to change fundamentally the data-sharing arrangements, that would take time and money in order to do that,' Dr Chalmers explained at the National Press Club.
He added that providing the rebate to every household was the 'most efficient way' to offer cost-of-living relief to people across income levels.
The $3.5 billion cost-of-living measure announced in the federal budget will benefit more than 10 million households and around one million small businesses.
The rebate will be applied directly to people’s bills in $75 instalments, regardless of income.
Members of the Seniors Discount Club, it's time to take action and make the most of this opportunity.
Review your current energy plan, compare it with other offerings in the market, and switch if you find a better deal. By doing so, you could significantly reduce your energy expenses this year, making that $300 rebate go much further.
Source: Yahoo Australia/YouTube
What are your thoughts on Canstar Blue's recommendation, members? Do you have other tips for saving more on energy bills? Share them in the comments below!
This measure, set to kick in on July 1 this year, is a welcome relief for many, but with the average annual energy bill soaring over $1,700, more savings are needed.
Fortunately, there's a simple method that could help you double that rebate, and millions of Aussies could benefit from it.
The key to unlocking these additional savings lies in being proactive and shopping around for the best energy deal.
According to Canstar Blue, a comparison service, switching to the cheapest plan can result in significant savings.
According to Canstar Blue, switching to the most affordable plan can increase energy savings for Australians. Image source: Shutterstock
'Switching to the cheapest currently available plan on every network on our database offered an opportunity to make the newly announced energy bill relief payment stretch further,' said Christine Seib, Canstar Blue’s Editor-in-Chief.
When you compare the average energy bill for each state and territory against the cheapest available plan, the potential savings are substantial.
For instance, in New South Wales, you could save anywhere from $310 to $439 annually by choosing the right provider.
Victoria's competitive market offers even greater savings. If you switch to Ausnet Services, you can avoid up to $476 in expenses.
Similarly, residents of the Australian Capital Territory (ACT), Queensland, and South Australia could see energy bill reductions of $380 to $441.
Before you switch providers, Canstar Blue said you need to consider a few things:
- The overall value—which includes energy supply and usage rates, the terms and conditions of discounts, additional fees that might apply, and other incentives.
- The timing of your switch is crucial to ensure that you won't violate your current energy plan contract by switching to a new provider.
It is also pointed out that the government’s $300 rebate plan has a loophole.
People who own multiple properties may be eligible to claim more than one $300 energy rebate, provided their name is on the bills.
Treasurer Jim Chalmers clarified that the rebate will go to the person whose name is on the bill, meaning landlords with tenants won't receive the rebate twice if the tenant's name is on the bill.
However, the owner of a holiday home that isn't rented out would also receive a rebate for that property.
This is because the tax office does not currently share personal data with energy retailers, and changing this would be both time-consuming and costly.
'We would have to change fundamentally the data-sharing arrangements, that would take time and money in order to do that,' Dr Chalmers explained at the National Press Club.
He added that providing the rebate to every household was the 'most efficient way' to offer cost-of-living relief to people across income levels.
The $3.5 billion cost-of-living measure announced in the federal budget will benefit more than 10 million households and around one million small businesses.
The rebate will be applied directly to people’s bills in $75 instalments, regardless of income.
Members of the Seniors Discount Club, it's time to take action and make the most of this opportunity.
Review your current energy plan, compare it with other offerings in the market, and switch if you find a better deal. By doing so, you could significantly reduce your energy expenses this year, making that $300 rebate go much further.
Source: Yahoo Australia/YouTube
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