West Australian households are set to receive a $600 credit towards their next power bill, in what will be a signature policy of the McGowan Government’s State Budget, to be released on Thursday.
About 1.1 million households will receive the one-off credit from November 1 — just in time for the next power bill, the West Australian reported.
State governments massively rip its citizens off on electricity. It's the only way they can afford to pay for their leviathan bureaucracies, every single member of which reliable votes Labour.
actually its more than an inflated income stream, its a means of making all energy appear to be very expensive, in order to justify huge investment in wasteful fossil fuel burning power stations.
In case anyone missed it:
In short: money is from settlement 30 years after Bell group collapsed. The WA government is going to get gross $600m (but $300m legal fees) after losing gross $900m 30 years ago.
$900m 30 years ago isn't the same as $600m now. I guess in short the money is an inheritance pay out of cents in the dollar.
I can't recall a time when people are smug when they paid out $1 and got $0.66 back.
ABC article on where the current $600 comes from
How much the WA government is really getting
I don't know how I'd feel if the government said they are going to give me $600 credit but take out $900 in another way.
Yes it's from the Bell group collapse and the WA government under Brian Burke losing considerable tax payer funds in the collapse.
After almost 30 years of legal fighting the WA Government and the ATO have got a payout that found the banks were liable and the current WA government has returned the funds to the WA tax payer.
I'm sure they could easily have thrown it into the state coffers to make the budget look better. As that article says, they hope the money saved on electricity will be put into industry and business to help kick start the state post COVID.
$0.66 in the $1 is far better than nothing which is how many of these cases have eventuated over the years. Thank the banks for fighting this for 29 years.
Also remember those figures quoted were losses of "close" to $900mil and legal fee of "at least" $300mil, pretty messy business.
As you say though, the true losses to WA tax payers would be far worse than the apparent $0.66 in the $1 with inflation etc.
no its just a giveaway - wa inc has never left - and there is no post-covid.
Recent changes to wa's solar tariffs show WA labor's green credentials to be zero - highlighted by the needless destruction of national treasures by the mining industry which does whatever it likes, whenever it wants, and with plenty of tax monies that should be going elsewhere.
The sheeple have destroyed Australia. All hail the sheeple…
Giving Synergy the admin work of this is a head scratcher.
Id rather they drop the electricity price in general, in WA , we cant shop around like you fancy east-coasters
never happen - the pollies want the income stream for their jollies
I can now afford Xbox Series S
Synergy profits approx AUD 300million from the tax payers AUD 700million donation assuming there are 650,000 households in Australia (2016 data) and synergy is giving back only AUD 600 electricity credit per household. Synergy should double the amount of the electricity credit.
Reference: https://www.abc.net.au/news/2020-10-13/synergy-to-get-more-than-$700m-in-subsidies-from-wa-taxpayers/12759034
got mine today :D
![[WA] $600 Credit to Every WA Household for Power Costs - WA Government](https://files.ozbargain.com.au/n/80/570380.jpg?h=e86e31a8)
The date of when they check if you were eligible was yesterday, so no.