Small businesses to receive energy bill rebate
Small businesses will receive a new energy bill rebate under a new relief fund.
The Federal Government is partnering with state and territory governments to deliver up to $3 billion of electricity bill relief for eligible households and small businesses.
One million small businesses will be eligible for Energy Price Relief Rebates from July 1, as part of the Albanese Labor Government’s responsible and targeted plan to reduce cost‑of‑living pressures as outlined in the 2023-24 Budget, according to a joint media release by Treasurer of Australia, Dr Jim Chalmers MP.
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“The Energy Price Relief Rebates will provide responsible and meaningful energy bill relief and help ease the pressure on families and small businesses.
“Rising power prices are among the biggest burden on Australian families and Australian businesses.
“The Energy Price Relief Rebates will take the sting out of power price rises in late 2023 and early 2024 when these increases are expected to be most acute.
“These rebates, led by the Albanese Government and co‑funded by the states and territories, will directly reduce electricity bills for eligible households and businesses and are expected to reduce inflation by one-quarter of a percentage point in 2023‑24.”
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In his Budget 2023-24 speech, Mr Chalmers said back in November, gas bills were set to go up by 20 per cent in 2023–24 and electricity bills were set to rise by 36 per cent.
“This was the high price Australians were slated to pay for the Russian invasion of Ukraine – and a decade of energy policy failure here at home.
“Our Government refused to stand by and let this happen.”
The Government put a temporary price cap on wholesale gas contracts, working with the states to cap the price of coal used for electricity generation and introducing a mandatory code of conduct for gas sales, to ensure Australians can access energy at a fair price and give industrial gas users a more level playing field in negotiations.
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“Because of our policies, electricity price increases are expected to be around 25 percentage points less than what was projected and 16 percentage points less for gas,” Mr Chalmers said.
According to the Queensland Government, Queensland small businesses with an annual electricity consumption threshold of 100 MWh will automatically receive a $650 rebate.
Queenslanders can find out more about the Energy Bill Relief Fund energy rebates here.
