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$175 Cost of Living Rebate Set To Hit QLD Electricity Bills

$175 Cost of Living Rebate Set To Hit QLD Electricity Bills

Households are set to receive a $175 Cost of Living Rebate from September 2022.

The rebate builds on the $50 asset ownership dividend announced earlier this year. The Government has increased this assistance for households from $50 to $175 in response to the extra cost of living pressures many Queenslanders are facing. The rebate will be automatically credited to eligible customer accounts from 31 August 2022 and will appear on residential customers’ bills between September and November 2022, depending on individual billing cycles.

Because Queensland’s power assets are publicly owned, Queenslanders are able to share in the dividends.

Around $500 million from the dividends of government-owned corporations has already been used to provide households with a $50 electricity bill credit in 2018, 2019 and 2020 (twice) and 2021.

These rebates are in addition to any other energy rebate or concession for which a customer may be eligible.

Who is eligible to receive the Cost of Living Rebate?

The rebate is being provided to residential customers who are separately charged for their electricity.

Customers who don’t receive a separate electricity bill (e.g. where electricity is included as part of the rent) are not eligible to receive the rebate payment.

Arrangements are in place for customers with electricity on-supply arrangements and customers using a card-operated meter. See below for details.

How will the Cost of Living Rebate provide relief to the average household electricity bill?

The average Queensland household electricity bill varies widely depending on a number of factors including household size, types of appliances being powered and the household’s specific electricity contract. The graphs below illustrate the downward trend in electricity prices over the past five years – highlighting how the rebate will help keep bills low and ease cost of living pressures over the next year.

The first example is based on a reference South East Queensland household on a default market offer (DMO) as set by the Australian Energy Regulator. This is the default contract customers are placed on if they don’t sign up to a plan with their electricity retailer. The second example is based on a typical household in regional Queensland, using regulated retail prices set by the Queensland Competition Authority.

How Does This Affect Every Day Queenslanders?

It’s a great opportunity to take stock and review your electricity bill and energy providers. Compare energy providers and see if you could be getting a better energy deal through Billy Explores! Save time and effort and explore potential savings through Billy Explores here.

Why you’re comparing life insurance, why not take the time to do a private health insurance comparison through Billy Explores as well? It’s so easy Australia, to do a health insurance comparison. Here are some handy links below:

 

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