Published: 7:56 PM EDT, May 25, 2023 | Updated: 8:40 p.m. EDT, May 25, 2023
Hundreds of Australian households will see their energy bills increase by up to $500 a year, swallowing up new energy rebates introduced by federal and state governments.
Customers in NSW, South Australia and South East Queensland can expect an increase of between 19 and 25 per cent from 1 July, depending on their location, under a new standard market offer from the Energy Regulator.
NSW customers using the standard offering can expect price increases of between $440 and $594 per year, depending on region, while relevant southeast Queensland households could pay an additional $402.
In South Australia, private customers can expect a price increase of around US$512.
These electricity price hikes are expected to completely erase the energy rebates announced in the budget by the Albanian government earlier this month.
The rebate comes into effect on July 1st, the same day the new energy prices go into effect.
More than 5 million eligible households in New South Wales, Queensland and South Australia will receive a $500 energy refund on their electricity bill. Additionally, small businesses save $650.
The Albanian government’s energy rebate will be almost entirely irrelevant to struggling households in NSW, Queensland and South Australia after it was revealed electricity prices will rise from July
Australia’s energy regulator said electricity prices would rise by 21 to 24 percent from July 1 when it released its final decision on Thursday
The amount is not deposited directly into the bank accounts of eligible individuals, instead the rebate is applied directly to utility bills.
“This is done automatically and customers don’t have to do anything,” says a document from Services Australia.
Australians who are eligible for the Energy Credit include those with a Pension Reduction Card, Carer Card, DVA Gold Card, Senior Card, receiving Family Tax Credit or Carer’s Allowance.
Opposition leader Peter Dutton is now calling for more gas to be fed into the grid to cut energy costs amid rising bills.
“We want to see more gas in the system because the government here is shutting down the old system before the new one is ready and that’s what’s driving prices up,” he told Nine’s Today program on Friday.
“The government has completely underestimated how much families and small businesses are suffering.”
But Prime Minister Anthony Albanese accused the opposition of taking action against measures to relieve energy bills.
“You can’t say you care about energy prices while voting against cutting those costs,” he told Cairns radio station 4CA.
“The system is under pressure, but we have to deal with it seriously in the future.” “We know that renewable energy is the cheapest form of energy.”
Deputy Prime Minister Richard Marles said work to reduce electricity bills is well under way, including greater investment in renewable energy.
He said interventions in the energy market had resulted in lower prices than they otherwise would have been.
“We understand that rising electricity prices are putting real pressure on households and businesses. That is why we have acted in this regard from day one,” said Mr Marles.
“At the end of last year, the energy price regulator expected electricity prices to rise by 50 percent.
“This year that hasn’t happened — it’s a lot less.”
The energy regulator said high wholesale costs continued to push up retail electricity prices.
Clare Savage, chair of Australia’s energy regulator, said the agency’s decision took into account pressures on household and business living costs and the need for retailers to break even.
RELIEF ON THE ENERGY BILL: HOW MUCH YOU GET AND WHO IS ELIGIBLE
LAW:
Households receive a $175 annual energy rebate on their utility bills
Small businesses can access a $325 discount
NSW:
Households receive a $500 energy rebate on their utility bills
Small businesses can access a $650 discount
Northern Territory:
Households receive a $350 annual energy rebate on their utility bills
Small businesses can access a $650 discount
Queensland:
Households receive a $500 annual energy rebate on their utility bills
Small businesses can access a $650 discount
South Australia
Households receive a $500 annual energy rebate on their utility bills
Small businesses can access a $650 discount
Tasmania:
Households: receive $250 per year for two years
Small Businesses: receive a total of $650 billing credit for the 2023-24 period
Victoria:
Households: receive an annual energy rebate of US$250 on their utility bills, in addition to the US$250 electricity savings bonus already open to all Victorian residents, resulting in a total of US$500 in bill relief
Small businesses can access a $325 discount
Western Australia:
Households receive a $350 energy rebate on their utility bills
Small businesses can access a $650 discount
Who is entitled to energy relief?
Eligible to enter are those using Centrelink or:
Possess a Retiree Concession Card (including card issued by the Department of Veterans’ Affairs) (DVA)
Possess a health card (including a low-income health card)
Hold a DVA Gold Card and hold a Commonwealth Seniors Health Card (including those issued by DVA).
Receive Family Tax Benefit (FTB) Part A or B
Get care allowance.
