Western Australian households are set to receive a $700 Household Electricity Credit aimed at relieving cost of living pressures as part of a partnership between the Federal and Western Australian Governments.
The rollout will begin in July 2024.
The Western Australia Government’s 2024–25 Budget included $492 million to deliver a $400 electricity credit to all households and more than 90,000 small businesses, while the Federal Government’s 2024–25 Budget included a $300 credit for households and $325 for small businesses.
The cost of living relief initiatives will be combined to deliver a $700 credit to every Western Australia household and a $725 credit for small businesses with annual electricity consumption below 50MW hours, across two instalments.
The first instalment – $350 for households and $362.50 for small businesses – will begin appearing on power bills in the July–August billing cycle. The second instalment will be applied in the December–January billing cycle.
For households and small businesses that do not have an account with Synergy or Horizon Power, applications for assistance are expected to open in July 2024 through RevenueWA and the Small Business Development Corporation.
For households requiring additional support, including pensioners, veterans and Health Care Card holders, further help is available through the Energy Assistance Payment.
The Energy Assistance Payment will increase total support to more than $1,000 for eligible customers, while more than $1,300 in support is available for families with eligible concessions, including the Dependent Child Rebate.
The electricity credit is jointly funded by the Western Australia and Federal Governments and is the fourth electricity credit delivered by the Western Australia Government.
It takes total support in power bill relief received by Western Australia households to $2,100 over the past four years, and small businesses to more than $4,300.
Western Australia Premier, Roger Cook, said, “Delivering cost of living relief is our top priority, and together with the Federal Government, we’re ensuring every household in Western Australia receives a record electricity credit in 2024.
“Our responsible financial management means we can invest in what matters to Western Australia, without leaving behind a mountain of debt.
“My government is looking at all options to help Western Australians with cost of living pressures, because we’ll always do what’s right for Western Australia,” Mr Cook said.
Federal Treasurer, Jim Chalmers, said, “We’re working closely with the Western Australia Government to ease the cost of living for Western Australians and energy rebates for households and small businesses are an important part of our efforts.
“The primary focus of our economic plan and our Budget is to ease pressure on Western Australians and put downward pressure on inflation, and our new power bill relief does both.
“Just like every taxpayer is getting a tax cut, every household will now get energy bill relief under the Albanese Government from next month with plenty of support for small businesses as well.
“We know that many Western Australians are under pressure, and the extension and expansion of our energy rebates will deliver more cost of living help to more people who need it,” Mr Chalmers said.
Western Australia Treasurer, Rita Saffioti, said, “We’ve always made it clear that providing cost of living relief to Western Australia households and businesses is a major focus for the Cook Government.
“We’re really proud to have delivered a fourth electricity credit in this year’s Budget, saving families at least $2,100 and small businesses more than $4,300 over the last four years.
“These initiatives put more money back in the pockets of households, and we’re able to do this because of our strong financial management and keeping net debt sustainable,” Ms Saffioti said.
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