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The situation has gotten so bad, that energy poverty keeps rising in Australia.
It’s disgraceful when nearly 50,000 Australian families have to choose between three square meals or power!
The Coalition government, which is fighting a tight election this May, is well aware of how vital energy affordability is for Aussies on welfare.
To help out the most vulnerable, this government has come upon a quick solution – a cash splash.
Continue reading to learn about what solution has been put forward and how useful it may be.
The Australian Treasurer, Josh Frydenburg, says that the new initiative will ease the pain of poor Aussies over their cost of living.
Singles will receive $75, while couples will receive $125 from the Energy Assistance Payment program in July.
Altogether, the government expects to set aside $285 million from the 2019 Budget towards this one-off payment.
Close to 4.7 million people in Australia will receive the one-off payment.
These include 2.4 million pensioners, close to 280,000 carers, nearly 750,000 disability pensioners, 242,000 single parents and 225,000 veterans.
The government has also said people on Newstart allowances, which number up to 760,000 as of January 2018, will also receive the payment.
But just how much of a difference is this payment going to make anyway?
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Over 12 months, the payment translates to a paltry $1.45 a week for singles and $2.4 a week for couples!
Labour leader Bill Shorten had this scathing remark to say about the policy – “$1.45 a week for 12 months is not an energy policy, it’s an election con”.
Electricity Monster took an average of the best plans from the seven biggest electricity retailers in Australia to understand just how useful this payment will be for vulnerable Aussies.
Average Yearly Power Bill in Victoria, NSW, SE Queensland and South Australia for a 2-person home:
As you can see, the payment will barely make a dent, taking away less than 10% of the burden.
The question remains – “Can the $285 million the government is spending on these energy payments find better use?”.
At Electricity Monster, we are incredibly uncomfortable with the situation vulnerable Australians have to go through regarding energy prices.
It is to understand if your home is on an affordable rate.
The simplest way to do that? Making the call to Electricity Monster and enjoying our 100% Free Service.
Our team of professional energy brokers will see if they can find you sharper rates for your home from our database of partner providers.
Our team has served over 35,000 Australian families, showing our commitment to the cause.
We can sort your power, gas and internet in as little as 15 minutes, and our number is 1300 232 848.
This publication looks at how much a 2-person household pays a year, on average, on selected plans from Origin, AGL, EnergyAustralia, Simply Energy, Alinta Energy, Red Energy and Powershop in NSW, VIC, QLD and SA. The information being made available in this document cannot substitute for legally sound advice. No financial decisions should be made based on information from this publication. Individual usage, circumstances and brands could cause usage figures to vary.
Important points to note are: