Budget 2019: What will happen to power prices?
Learn how the Energy Assistance Payment will work.
A one-off sum, the Energy Assistance Payment, is being offered to some welfare recipients to help with the rising cost of power bills. Eligible couples will receive $125, while singles will get $75. An estimated 4 million households will receive the payment.
While energy policy are expected to be a major focus of the 2019 election campaign, no other specific policies to lower power prices were announced in the budget.
Who will this affect?
The payment will be made to any Australian resident in Australia as of 2 April 2019 and receiving one of the following pensions or support payments:
- Age Pension
- Disability Support Pension
- Carer Payment
- Parenting Payment Single
- Veterans' Service Payment
- Veterans' Income Support Supplement
- Veterans' Disability Payments
- War Widow(er)s Pension
- Permanent Impairment Payments
Newstart recipients (people on unemployment benefits) weren't in the Budget papers list of those eligible for the payment, but the government subsequently said they would also be included.
When will the changes happen?
Assuming the legislation passes parliament, the payments would be made automatically into bank accounts of eligible recipients before 1 July 2019. This is a one-off payment.
- How to get $90.95 off Nintendo Switch with Amazon Prime
- Amazon Prime Day Australia 2021: 11 great deals you can still get
- Ethereum price: Experts believe key indicators paint a negative picture
- Today’s ASX top stocks: Ainsworth Game Technology (AGI ↑9.3%), Washington H Soul Pattinson & Company (SOL ↑8.7%)
- China’s aggression to Bitcoin has lead to it’s worst month in years
Picture: Getty Images