Starting July 1, 2023, millions of Queensland residents are expected to see some financial relief in the form of a one-off power bill rebate which, according to the Queensland state government, will help “offset” the pending energy price increases.
This cost-of-living rebate will be automatically deducted from the eligible resident’s energy bill. This means you do not need to apply anywhere to receive this rebate.
How Can I Lower My Energy Bill Further?
If you think you’re paying more for electricity, it’s possible you are. One of the easiest ways you can lower your power bill is to compare energy plans and switch to a better rate. Most retailers offer a benefit period that ends after a specified period (i.e. 12 months). Once this promotional period ends, you could be on a more expensive rate. At Electricity Monster, we can help you potentially lower your bill by comparing rates and finding you a fair deal from our network of partnered retailers. Click on the link below to get our best deal and a $50 voucher.
How Much Money Will I Be Getting?
Eligible Queensland residents will see an electricity rebate of $550.
Concession holders or vulnerable households will get a rebate of $700 in addition to an existing $372 discount. Paired with the state’s existing energy bill relief fund, this brings the total rebate to $1,072.
Eligible small businesses will receive an automatic rebate of $650 that will be reflected in their power bill.
The decision comes after the Australian Energy Regulator (AER) determined households in New South Wales, southeast Queensland, and South Australia will see increases to their electricity bills from 19.6 percent and 24.9 percent starting July 1, 2023.
This cost-of-living rebate is separate from the Energy Bill Relief Fund, which offers relief to households and businesses in New South Wales, Queensland, South Australia, Victoria, Western Australia, the Northern Territory, ACT, and Tasmania.
Am I Eligible for the Rebate?
All Queensland households will be eligible for this cost-of-living rebate. The $550 electricity rebate is available to all homeowners and can be expected to be rolled out to customers’ quarterly electricity bills from July 1, 2023. The timing may differ based on the retailer and individual billing cycle.
The $650 rebate is available for businesses that use less than 100,000 kWh per year. This rebate will also be automatically deducted from customers’ bills starting July 1, 2023.
What If I Am Not Eligible For the Rebate?
Another budget measure that you may be able to benefit from is the Energy Savings Plan which offers financing options for homeowners looking to make energy-efficient upgrades to their homes. With a budget of $1 billion allocated to this measure, over 100,000 households will benefit from this plan.
Households suffering from high power bills are also urged to compare energy plans and providers in order to mitigate some of the high costs. If you’re looking to switch or want to compare plans, give Electricity Monster a call today, as we can analyse your energy usage and offer you a variety of free solutions to help you find a better deal.
Other Reads You Might Like
The Best and Cheapest Electricity Deals New South Wales Has On Offer
The Best and Cheapest Electricity Deals Victoria has on offer (and how you can get them!)
Best Electricity Deals Queensland (Cheapest Providers)
The Best and Cheapest Electricity Deals South Australia Has On Offer
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Benjamin Tom covers the retail energy market, with a focus on electricity, solar, and Internet. His interests include helping people navigate the complexities of the energy market while saving money on their power bills.