The Australian Government has introduced some relief measures through a massive energy bill to ease the burden of inflating electricity prices for households and small businesses. Within the extended Energy Bill Relief Fund, eligible Australians will obtain direct rebates toward paying their electricity bills in the financial year 2024-25.
A brief explanation of the Energy Bill Relief Program
In response to rising cost-of-living concerns, the federal government is extending the Energy Bill Relief Fund with $3.5 billion. The funds will be dissipated directly to consumers in the form of reduced electricity bills, with the rebate applied either as a discount or reimbursement arrangement through electricity retailers in the majority of instances.
For households, the rebate will be a total of $300, with $75 paid per quarter for four installments spread throughout the year. The rebate for small businesses is $325, in four quarterly payments of $81.25 each. These amounts are credited directly to electricity bills, reducing out-of-pocket costs for recipients.
However, residents located in embedded networks—that is, in a block of apartments, retirement villages, or caravan parks may have to apply for their rebate directly from the state government via a specified platform.
Other State-Based Rebates
The federal scheme is national, although a couple of states set up their rebate for their residents. In Queensland, households will receive an additional $1,000 electricity rebate in the fiscal year 2024-25. This additional amount will also be automatically credited to eligible electricity bills beginning July 2024.
In addition, residents of Western Australia will be getting a $700 electricity credit, which is made up of $400 from the WA State Government and $300 from the federal fund; applications opened on 31 July 2024 and will close on 31 March 2025. Other states and territories should contact their local energy departments regarding any further rebates available to them.
Who Is Eligible?
o qualify for the rebate, households would be required to have an active electricity account with a participating electricity retailer. For those not directly connected with the conventional providers-residents in embedded networks would generally have to undertake a separate application process.
For small businesses, in general, the basis for eligibility is energy use and classification according to local rules. For instance, in New South Wales, small businesses are those with energy consumption of up to 100 megawatt hours per year. Each state may define these thresholds in different ways; therefore, checking with the concerned state energy agency is recommended.
How to Apply (If Applicable)
Most customers receive the rebate automatically via their electricity provider. Some people, however, must apply for the rebate manually. This includes members of embedded networks or customers in special billing arrangements.
Eligible applicants should:
- Look up official energy assistance websites for their state or territory to determine if they need to make a manual application
- Check for eligibility requirements and gather any applicable documentation to support their case, such as proof of residence or an electricity bill
- Submit their application via the online portal or as otherwise instructed by the energy agency
- Wait for confirmation and to see the rebate credited to their future bills
It is best to apply as soon as possible so that individuals do not miss the cut-off date or delay payment.
Expected Payment Timeline
The rebate amount will be distributed in quarterly installments throughout the financial year. The first amount will be applied starting July 2024, whereas the next installments will be applied in October 2024 and January 2025 and in April 2025.
Electricity providers will specify the rebate as a separate item or as a credit noted on the applicants’ billing statements so they easily verify that the support has been provided.
Conclusion
The recently instituted electricity rebate scheme is yet another manifestation of the federal government’s commitment to fulfilling its bold promises to the citizens in dealing with the soaring cost of living. The scheme, by direct provision of electricity subsidy to millions of households and small businesses, ameliorates the effects of inflation and extremely high prices of energy on the budgets of households.
Do check with your local energy authority or provider for rules about the specific state. Just in case you’re in an embedded network, do take early action to ensure you do not lose any opportunity at all.