All Queensland households will receive a $1,000 credit to their electricity accounts later this year, Queensland Premier Steven Miles announced on Thursday.
- All Queensland households will receive a record $1,000 credit to their electricity account this year
- The credit is expected to be applied in July, just months before the state goes to the polls
- Queensland premier Steven Miles said the cost-of-living relief was too urgent to wait until the state budget
That could see many residents effectively realising 'free' electricity in the second half of 2024.
The energy bill rebate announced today is nearly double that offered to residents in the financial year 2022-23 – $550 – and marks a new record for state government-led cost-of-living relief.
Seniors, pensioners, and concession card holders will see the $1,000 tacked onto their existing Queensland Electricity Rebate, thereby seeing the total rise to $1,372.
“We are delivering the biggest cost of living relief package in Queensland history to back Queenslanders in the fight against inflation,” Mr Miles said.
“Queenslanders tell me that inflation and rising mortgage payments, rents, and grocery prices are their biggest concern.
“I said we would use the budget to deliver cost of living relief but I’ve decided it’s too urgent to wait that long.”
The rebate will be automatically applied to electricity accounts from July.
The state government will introduce a special appropriation bill to bring forward the payment.
It said the rebate was made possible by its controversial coal royalties, which delivered nearly $11.4 billion to the state’s coffers in the financial year 2022-23.
The record energy bill relief is expected to be instituted months before Queenslander’s go to the polls in what is expected to be a tough election for the long-serving Labor Government.
Energy rebates wither electricity inflation
News of the latest energy bill rebate comes shortly after the latest data revealing the ongoing impact of such relief measures was released.
According to Australian Bureau of Statistics (ABS) figures, the cost of power in Brisbane roared nearly 33% in the March quarter of 2023, potentially spurring the state government to introduce 2023’s $550 rebate.
Since then, electricity prices have eased 9.5%, thanks in part to the energy bill relief offered by the state government.
ABS inflation data found electricity prices have risen 3.9% since June 2023.
That figure would have been 17% if not for the federal government’s $250 Energy Bill Relief Fund, which was bolstered by the Queensland Government last year.
Queensland is far from the only state to have offered residents electricity rebates in recent times.
The Tasmanian Government announced a $250 rebate last week while eligible NSW households will see existing energy rebates increased by up to $350 this year.
"Queensland households promised new $1,000 energy bill rebate" was originally published on Savings.com.au and was republished with permission.