This was posted 3 months 11 days ago, and might be an out-dated deal.

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$300 Electricity Rebate For Every Household (Paid as 4 $75 Quarterly Deposits into Electricity Account) @ Budget.gov.au

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$300 Electricity Rebate For Every Household (Paid as 4 $75 Quarterly Deposits into Electricity Account) @ Budget.gov.au
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save50 on 14/05/2024 - 21:25 budget.gov.au (11756 clicks)
Last edited 15/05/2024 - 12:24 by 1 other user

New power bill relief
$300 energy rebates for every household

The Government is providing $3.5 billion in energy bill relief for all Australian households and around one million small businesses.

From 1 July 2024, more than 10 million households will receive a total rebate of $300 and eligible small businesses will receive $325 on their electricity bills throughout the year.

This is estimated to directly reduce headline inflation by around 1/2 of a percentage point in 2024–25 and is not expected to add to broader inflationary pressures.

(BTW: comparing to QLD's $1000 energy bill relief from https://www.ozbargain.com.au/node/843908, what is the difference between this one and that post as this post has so many negative votes? If it is an 'announcement', it will be the similar announcement to QLD's rebate. In other words, both posts should be treated fairly and equally.)

Financial Electricity Rebate

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closed Comments

    • slothhead on 15/05/2024 - 18:00

      I don't understand how this will lower CPI? Isn't this equivalent to giving everyone $300 cash - which will devalue the money supply by the same amount ($300 x 24 million Aussies plus the small businesses who receive a similar amount) and thus contribute to inflation?

      I suspect I'm wrong as I have heard others indicate that this will not impact inflation, but I just don't understand how or why.

      • CaptainHoltisDad on 16/05/2024 - 09:38

        24 million Australians don't live in 24 million separate households
        Cost of energy contributes to the CPI 'basket of goods' calculation so lowering this via subsidy should lower that portion of inflation.

  • RG on 15/05/2024 - 15:41
    +6

    Not a deal

  • DealhunterMelbourne on 15/05/2024 - 15:44

    $300 new TV rebate.

  • Benoffie on 15/05/2024 - 16:19
    +2

    Bad government policy applying to everyone as a bread and circus gimmick isnt a deal.

    How about making electricity an essential service and capping the pricing? Now thatd be a deal.

    • team teri on 16/05/2024 - 17:51
      +1

      If only some state governments, usually when libs/nats were in power, had not sold off all their assets to private interests…

      So glad in WA we had a change of government just before that was about to happen. Synergy may not be perfect (far from it), but at least they run things with the overall picture in mind, not focused on short term profits to maximise dividends and board bonuses, while skinning their customers alive…

      • Benoffie on 16/05/2024 - 20:21
        +2

        Completely agree. Same in SA with ETSA. Nothing stopping them from cancelling the 99 year lease…

  • slothhead on 15/05/2024 - 17:57
    +2

    So this cash is given directly to retailers to credit to customers accounts?

    Is this going to have any impact on pricing by retailers - now that they know 24 million Aussies have a guaranteed $300 in their account (credited quarterly).

    Not an attack on Labor's policy - genuinely curious as to how private industry will respond to this.

  • PaisleyPaige on 15/05/2024 - 18:04

    Do you think this rebate will apply if your balance is already negative? Mine is currently hovering around -$700.00 due to solar.

    • slothhead on 15/05/2024 - 18:12

      I would expect that all accounts will be credited, regardless of the status of the account.

      • PaisleyPaige on 15/05/2024 - 18:33

        Fingers crossed :)

        • prhino on 25/05/2024 - 10:41

          This is now stated in the FAQs

      • ChipsChicky on 01/07/2024 - 23:26

        Is it to be applied or will they credit the electricity account automatically?

  • lac0449 on 15/05/2024 - 18:19
    +1

    I'm curious to understand how in the long run, this is beneficial. Given that Australia's overall debt continues to climb, it's not like it's a spare $300 that they're just handing out, so I assume this would be financed through more government debt and as such, the taxpayer then pays more than the $300 provided back to the government to repay the loan over time.
    I'm not an economist, but isn't the point of what the RBA is trying to do, is take money out of the consumer/reduce spending, so if the government continues to try and funnel more money back into the left pocket, isn't the RBA essentially going to continue to take more money from the right pocket?

    • Lets Go Brandon on 15/05/2024 - 18:32
      -2

      Trying to win over those with short term memory and cover up their incompetency.

    • ginormousgiraffe on 16/05/2024 - 06:55
      -1

      Our gross debt and debt as a percentage of GDP has fallen the last two years, even with these cost of living measures. The electricity cost of living relief will account for less than 0.4% of our government debt.

  • Wil747 on 15/05/2024 - 19:06
    +2

    We going to pay for this in other ways

  • yuisakas on 15/05/2024 - 19:26
    -4

    So where to apply this thing?Paying tax for almost 20 years and never got anything from the gov

  • themilkmanbot on 15/05/2024 - 20:43
    -1

    Electricity Bill providers are really doing it tough in this economy, I am so glad the taxpayer is giving them a hand out - how else would they survive?!

  • joomax on 16/05/2024 - 11:00

    As a few others have said, this isn't an actionable 'bargain' - this type of thing should only appear here when you need to go and fill out a form or something, e.g. for previous similar Victorian schemes.

    I'm sure it drives traffic but I'm not so keen on seeing the bottom dwellers come out on these posts and be allowed to engage with those of us with critical thinking skills.

    • try2bhelpful on 16/05/2024 - 11:13
      -1

      Yeah, nah.

      • joomax on 16/05/2024 - 13:54

        ??? lol

        • try2bhelpful on 16/05/2024 - 20:33
          -2

          Thought I’d reduce it down to your clear thinking skill level.

  • Saku-kurata on 16/05/2024 - 13:38
    -1

    I'm confused why this is consider a deal if everyone gets it anyway. It's not that you have to do anything in order to get the $300 rebate.
    It's TOTALLY different with the QLD $1000 energy rebate because you actually NEED to do something (i.e: purchase energy saving appliances) in order to get the rebate, and people who didn't know will miss it.

    • Nomad2233 on 16/05/2024 - 20:15

      No it’s the same here in Queensland the government pay for most of my electricity bills automatically. The appliance rebate is a separate thing altogether, they do advertise it but there’s a fixed amount so you have to get in before the moneys gone - usually lasts a few months though.

  • Mad Max on 17/05/2024 - 22:26
    -1

    They made electricity prices skyrocket because of their climate change net zero bullshit policies and initiatives. So now they give electricity rebates to get re-elected (QLD and federal elections coming).
    After the elections electricity will still be super expensive, but no more rebates.

  • huuuuugo on 18/05/2024 - 20:42

    Downvote

    1. Not a deal
    2. I would have voted against this
  • Just Hai on 18/05/2024 - 20:42

    I just remember when something is free then you are a product :D

  • sngr on 19/05/2024 - 02:27

    Great deal, how many did you buy OP?

  • ruprectaus on 20/05/2024 - 00:18

    Should provide a nice inflation boost, well,.so say the economists.

  • financialminimalism on 20/05/2024 - 20:34
    -2

    I down voted the QLD energy rebate, but I got Dow voted so much for it OzB removed my downvote. Ha! Go figure. You can’t have an opinion if it’s an unpopular one.
    Feel free to up vote my comment over there and see if we can bring back the negative vote! https://www.ozbargain.com.au/comment/15228104/redir
    For the same reason, this post belongs in the forums and is just a gov handout. Likely inflationary.

  • lovebargain87 on 21/05/2024 - 08:26
    -1

    For those that downvoted this deal, this is the reason why we can't have nice things in life

    Just shut it and enjoy and be grateful that we all get this regardless

  • payless69 on 22/05/2024 - 14:30
    -4

    Albo made headlines around the world:

    Head of government pays power bill of richest woman!!

    Just about every paper around the world got free comedy!!

  • Neyo01 on 23/05/2024 - 09:28

    I was already thinking of changing providers to get cheaper rates. Now that we've got this + the QLD rebate… should I wait until these are paid out before swapping or would I be fine changing now and hoping the providers don't somehow lose my rebate in the cracks.

  • mehow on 24/05/2024 - 14:57

    Sneaky accountant trick by the govt. Reduces headline inflation data but doesnt really as people have more money to spend on other stuff

  • kcome on 28/05/2024 - 16:28

    This is not a "Deal". This is taxpayers money, aka, your money.

  • financialminimalism on 29/05/2024 - 20:44

    Surprise surprise, inflation is on the increase.

  • jmc787 on 02/06/2024 - 02:11

    Jim Chalmers takes $50k off me and then gives me $300 back is not a deal.

    • Nom on 02/06/2024 - 11:03

      It could be worse, imagine if the other guys were still in power!

      On your salary of $165K (assumed from 50K tax bill), Jim's stage 3 tax cuts will save you $3,729 per year.

  • jaimex2 on 11/06/2024 - 11:27

    Wow, I can tell Federal Labor isn't going to win this coming election.

    Don't be idiots and vote for Liberal either. They are as bad as each other, pick an independant that aligns with you.

    Both major parties are just revolving doors to get into absurdly high paying private sector. They're gifting the countries resources in exchange for being set up for life.

    People going on about inflation - this is a drop in the ocean compared to the unchecked corporate profiteering going on.

  • Cleremy on 01/07/2024 - 09:25

    The Australian government trying to cultivate the image that it's not set on a path of destroying the country on behalf of it's owners.

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