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$300 energy bill relief for ALL households – here’s how to get it

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In a massive turn of events from last year's budget, every Australian household will be eligible for energy bill relief this time around.

The federal government has handed down its 2024 budget after announcing a $9.3 billion surplus for the current financial year ending in June.

Fortunately for Australian households, treasurer Jim Chalmers is giving us a small win.

We can now expect a total of $3.5 billion in energy bill relief just as we head into winter when energy bills tend to creep up.

From this pot, each household will be given $300. Around a million small businesses will receive $325.

@mariamgabaji_writes The federal government has announced an energy rebate of $300 for every Australian household. Do you think it's enough? #budget2024 #australia #energy #finderau #costofliving #moneytips ♬ original sound - mariamgabaji

How do I get the $300 national energy bill relief?

You can expect $75 to be credited to your energy account per quarter from 1 July 2024. Luckily, there's no paperwork for you to worry about.

The federal government will work with the energy providers to sort it all out.

Last year's budget included up to $500 of energy bill relief for 5.5 million households but eligibility was restricted to veterans, pensioners and concession card holders. Small businesses were given $650.

"Based on estimates of 2024-25 standing offers, the Commonwealth's energy bill relief means that nationally household bills will be 17% lower on average compared to the previous year," the treasury said in a media release.

"Compared to the Government's 2022 Energy Bill Relief Fund, this new power bill relief doubles the number of eligible households from five million to more than 10 million."

Now we were all hoping for power bill relief in light of back-to-back energy price hikes the last couple of years.

But the caveat remains...will this be enough? We'll find out when new electricity prices are announced for the 2024-2025 financial year, likely at the end of this month.

But wait, there is more...

Depending on where you live, your state or territory could have more energy bill relief on offer.

For example, Queensland is giving all households a $1,000 energy rebate in the first quarter of the 2024-2025 financial year.

Western Australia is handing another round of $400 energy bill credit following a budget surplus.

Victoria is taking a slightly different approach.

  • It's adding another $38 million in incentives to help families install solar hot water and heat pump hot water systems.
  • There's an additional $6.1 million available for interest-free loans to install solar batteries.
  • $5.9 million has been allocated to the Victorian Energy Upgrades program, which helps households switch to energy-efficient appliances.
  • $3.4 million is being directed to the Energy Assistance Program, which helps households struggling to pay their energy bills.

UPDATED: We updated our news following the federal budget's official announcement about the 2024 budget featuring energy bill relief.

Your next step should be to compare energy plans if you haven't in over 6-12 months. This, on its own, can lead to significant savings as you may not currently be the cheapest deal available.

Image: @luizsouzarj via Canva.com

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4 Responses

    Default Gravatar
    LexieMay 15, 2024

    When do I receive the energy bill.relief payment ?
    Thank you 🙏🏼

      AvatarFinder
      SarahMay 17, 2024Finder

      Hi Lexie, The article outlines the details of how the energy relief will be allocated; it will be added to your bill in 4 x $75 credits from July 1. You don’t need to apply, it happens automatically.

    Default Gravatar
    LexieMay 15, 2024

    When do I receive the energy bill.relief ?
    Thank you 🙏🏼

      AvatarFinder
      MariamMay 15, 2024Finder

      Hi Lexie, it will be added to your energy account from 1 July 2024. It’ll be paid in instalments meaning you’ll receive $75 per quarter. There’s nothing you need to do to receive it. It’ll all be processed automatically. In case you don’t see it come through, just contact your energy provider – they’ll be able to help you out. Hope this helps!

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