Every Queensland household will receive a $1,000 rebate on their energy bills from July.
Rebates will be issued as credits towards bills, not cash payments.
The Qld Government expects the initiative to almost halve average household power bills over the 2024/25 financial year.
Premier Steven Miles has called it the “biggest cost of living relief package in Queensland history”.
Inflation in Australia
Electricity prices rose by 5.2% in the year to March, according to the Australian Bureau of Statistics. It means power prices have been rising at a higher rate than overall inflation.
The Qld and Federal governments have offered rebates to limit spikes in energy prices amid surging inflation.
This includes a national energy bill reduction program rolled out during the 2023/24 financial year. Rebates vary between states and territories.
National energy market
According to research by Canstar Blue, average household energy bills in Qld are the second cheapest in the country ($315 per quarter).
The cheapest prices were in Western Australia ($296), while the most expensive electricity bills were in Tasmania ($372) and South Australia ($352).
However, an Australian Energy Market Operator report last month found that Queensland wholesale energy prices had increased in the first three months of 2024, compared to the same period last year. It was the only state or territory monitored by AEMO where this occurred.
Opposition view
The Queensland Liberal-National Opposition has said it will support the rebate.
Shadow Energy Minister Deb Frecklington said they “absolutely” backed any cost-of-living relief, but blamed the Government for putting Queensland “in this sorry state”.
The Government will introduce legislation to progress the rebate.
