Household Electricity Credits Roll Out Next Week

The first instalment of a record $700 Household Electricity Credit from the Albanese and Cook Governments will hit the accounts of Western Australian households next week the first of two instalments to be provided this financial year.

The Cook Labor Government's 2024-25 State Budget included $492 million to deliver a $400 electricity credit to all households and to more than 90,000 small businesses, while the Albanese Government 2024-25 Budget included a further $300 credit for households and $325 for small businesses.

The cost of living relief initiatives will be combined, with a $700 credit to roll out to every Western Australian household - and a $725 credit for small businesses with annual electricity consumption below 50 megawatt hours - across two instalments.

The first instalment - $350 for households and $362.50 for small businesses - will begin appearing on power bills from next Saturday 20 July. 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 from 31 July through RevenueWA, while applications through theSmall Business Development Corporation opened on 4 July.

For households requiring additional support - including pensioners, veterans and Health Care Card holders - further help is available through the Energy Assistance Payment, increasing total support to over $1,000, while for families with eligible concessions, more than $1,300 in support is available including the Dependent Child Rebate.

The electricity credit is jointly funded by the State and Commonwealth Governments and is the fourth electricity credit delivered by the Western Australian Labor Government.

It takes total support received by Western Australian households in power bill relief to at least $2,100 over the past four years, and small businesses to more than $4,300.

As stated by WA Premier Roger Cook:

"Delivering cost of living relief is my top priority.

"With winter well and truly here, our electricity credits provide genuine relief to families when they need it most.

"From free public transport and capped regional airfares to our student assistance payments and electricity credits, my Government is tackling cost of living pressures and helping every family across our State."

As stated by Federal Treasurer Jim Chalmers:

"We're working closely with the WA Government to ease cost of living pressures for Western Australians; and our new power bill relief 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 power bill relief does both.

"Just like every taxpayer is getting a tax cut, every household will get power bill relief under the Albanese Government this 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 power bill relief is delivering more cost-of-living help to more people who need it."

As stated by Acting Western Australian Treasurer Sue Ellery:

"From next week, Western Australian households and small businesses will start to benefit from this record $700 Household Electricity Credit and I have no doubt this will be warmly welcomed by our community.

"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.

"This is real support that make a difference to WA households juggling cost of living pressures and we can only deliver this kind of support through strong financial management and keeping net debt sustainable."

11 JULY 2024

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