Queensland electricity rebate: Millions of Aussies to get $550 handout
$550 cash boost to hand out to millions of Australians: here’s what you need to know… and how to use it
- Queenslanders get hundreds off electricity bills
- The state is funding the aid with a surplus of $12.5 billion
Millions of Aussies can prepare for an injection of financial relief through a huge surplus rebate across Queensland.
Queensland residents will see electricity bill relief, a free kindergarten and a host of other cost-of-living measures in the next financial year after the state posted a $12.3 billion surplus, the largest surplus of any state.
Every household in the Sunshine State will automatically receive a $550 rebate on their electric bill starting July 2023.
Approximately another 600,000 vulnerable households will benefit from a higher $700 cost-of-living rebate, while also continuing to receive a $372 rebate under the Queensland Electricity Rebate Scheme.
About 650,000 small businesses will also receive a $650 rebate on their electricity bills.
Queensland residents will receive hundreds of exemptions for electricity bills and other living expenses from July 1 after the state posted a $12.5 billion surplus for the financial year (stock image)
Coal industry royalties contributed $10.5 billion to the state’s $12.5 billion surplus last fiscal year.
“In this budget, our government will provide a larger and more general cost of living than any other government in Australia, state or federal,” said state treasurer Cameron Dick as he presented the budget on Tuesday.
“We can deliver our state’s largest cost-of-living program, our state’s largest construction program, and pay down lower debt for one simple reason: progressive coal royalties,” the treasurer said.
“Our decision to take on the mining lobby, stand our ground and fight for the people of our state has brought a rich reward to the people of Queensland.”
The reductions mean that low-income households, such as retirees and people on welfare, may not have to spend on electricity year-round.
The decision comes after the Australian Energy Regulator (AER) ruled that homes in New South Wales, South East Queensland and South Australia will see their electricity bills increase by 19.6 percent to 24.9 percent from July 1.
The state’s treasurer, Cameron Dick (pictured), said the surplus was bolstered by $10.5 billion in royalties from the coal industry
The finding will be a big difference with energy prices that were significantly lower than at the same time last year.
“Obviously it’s a very difficult decision and nobody wants to raise prices, as you can imagine,” Clare Savage, AER chairman, told the Australian financial statement.
She said it was a “difficult balance” to keep costs down and allow retailers to recoup costs.