2024 BUDGET ENERGY REBATE

Government relief on the rising cost of electricity bills (bill relief package)

To help ease the rising cost of living, the Australian Government has introduced a new energy bill rebate initiative as part of a broader relief fund. This $3.5 billion package is designed to directly support Australian households and small businesses, offering much-needed financial relief during the 2024–25 financial year.

What is it?

From 1 July 2024, all eligible households across Australia will receive a $300 credit applied directly to their electricity account over the 2024–25 financial year. This annual electricity relief will be delivered in quarterly instalments and will automatically apply — no action is required from customers.

In addition, eligible small businesses will receive $325 off their power bills over the same period. Whether you are a residential customer or a small business customer, this initiative is designed to save money on energy costs and support the community through challenging times.

Customers living in embedded networks will also benefit, with processes in place to ensure they can access the rebate where eligible.

Key Points:

• All households are eligible for the $300 credit.
• Households and small businesses will receive the payment automatically — no need to apply.
• Eligible for the rebate even if you live in an embedded network.
• Support aims to help customers manage their electricity bills and promote more energy efficient usage.
• The government’s support helps both everyday households and the backbone of the economy — small businesses.
• The rebate applies across every state and territory, including those participating in Victorian Energy Upgrades.

Why It Matters

This initiative is a vital step in supporting Victorian households and families across the country in managing their electricity costs, promoting smarter energy use, and reducing long-term power expenses. By combining federal and state programs, Australians benefit from more comprehensive support tailored to their daily needs.

For more information on the new relief package – click here for full details.

Check if you could be entitled to a power bill refund? Don’t miss out — Read the article for refund on power bill.