The Australian Government has announced the extension and expansion of the Energy Bill Relief Fund for the fiscal year 2024-25 with an investment of $3.5 billion aimed at offering electricity bill rebates to households.
and eligible small businesses This new phase builds on the $1.5 billion allocated in the previous year.
demonstrating the government’s ongoing commitment to easing financial burdens on Australians in light of economic challenges.
Energy Bill Rebate Overview
The Energy Bill Rebate initiative is designed to provide direct financial relief for electricity bills The rebates are applied automatically to electricity bills.
simplifying the process for recipients The program encompasses a wide range of households, ensuring that every Australian can access this support, while also extending significant assistance to small businesses meeting specific electricity consumption criteria.
The distribution process involves collaboration with state and territory governments, which manage the rebates through electricity retailers.
Rebate Amounts and Distribution
The rebate program offers substantial relief to both households and small businesses with automatic application and streamlined distribution.
Household Rebates
Every Australian household is eligible for an annual rebate of $300, which will be applied in quarterly instalments of $75 This rebate will be automatically credited to household electricity bills, making the process as easy and straightforward as possible.
State-Specific Rebates
In addition to the federal rebate, some states offer additional assistance to further support their residents
- Queensland Residents will receive an extra $1,000 rebate, bringing their total annual rebate to $1,300 The $1,000 state rebate will be paid upfront, with the $300 federal rebate applied in quarterly $75 instalments
- Western Australia Residents will benefit from an additional $400 rebate, making the total annual rebate $700 This amount will be distributed in two payments of $350 each during the July-August and December-January billing cycles.
Small Business Rebates
Small businesses meeting specific electricity consumption thresholds are eligible for a $325 annual rebate, which will be distributed in quarterly instalments.
This rebate will be automatically applied to eligible small businesses’ electricity bills, streamlining the process for those qualified.
Households
The Energy Bill Relief Fund is available to all Australian households, including those in external or non-self-governing territories.
Most households will automatically receive the $300 annual rebate in quarterly instalments However, those residing in embedded networks, such as caravan parks or apartment buildings, will need to apply for the rebate through their respective state or territory governments.
Small Businesses
Small businesses are eligible for the $325 rebate if they meet the definition of a ‘small customer’ in their state or territory This is typically determined by the business’s annual electricity consumption.
with different thresholds set for each region The rebate will be applied automatically, except for businesses within embedded networks, which must apply through the state or territory government.
Annual Consumption Thresholds for Small Businesses
- New South Wales (NSW): 100 MWh
- Victoria (VIC): 40 MWh
- Queensland (QLD): 100 MWh
- South Australia (SA): 160 MWh
- Tasmania (TAS): 150 MWh
- Australian Capital Territory (ACT): 100 MWh
- Northern Territory (NT): 160 MWh
- Western Australia (WA): 50 MWh
Small businesses that exceed these thresholds will not be eligible for the rebate
Rebate Claim and Distribution Process
For the majority of households and small businesses, the rebates will be automatically applied by their electricity providers This eliminates the need for recipients to take any additional steps to claim their rebates However, those within embedded networks.
will need to apply for the rebate through their state or territory government This ensures that people with complex electricity arrangements still receive the financial assistance they’re entitled to.
In Western Australia, households without accounts with Synergy or Horizon Power will need to apply for the rebate through RevenueWA, beginning in July This ensures that all eligible households, regardless of their electricity provider, receive the rebate.
Conclusion
The expanded Energy Bill Relief Fund for 2024-25 marks a significant effort by the Australian Government to provide essential financial support to both households and small businesses.
With streamlined automatic applications for most recipients and additional state-specific rebates, the initiative aims to alleviate the impact of high electricity costs across the country.
