Queenslanders are reaping the benefits of public ownership of their energy system, with the 2023-24 Budget unveiling the largest cost of living relief package in the country.
The Palaszczuk Government recently announced that the 2023-24 Cost of Living Rebate will more than triple last year's rebate, ensuring all Queensland households will automatically receive rebates, resulting in the most competitive effective power bills in the national electricity market.
Older and vulnerable people will see the biggest relief, with each household receiving a total of $1,072 in assistance in 2023-24. This includes a $700 cost-of-living rebate, partly funded by the Commonwealth's National Energy Bill Relief Fund, and an additional $372 through Queensland's existing Electricity Rebate Scheme.
Other households will automatically receive a $550 rebate on their electricity bills in the 2023-24 financial year, fully offsetting the typical increases seen nationally and globally.
Small businesses will also benefit, with around 205,000 eligible small businesses set to receive a $650 rebate on their electricity bills in 2023-24. In addition, $35 million will be allocated to the Queensland Business Energy Saving and Transformation Program, which provides targeted support to the agriculture industry to improve energy efficiency measures and infrastructure.
The Budget includes $70 million over two years to implement energy efficiency measures and provide advice to tens of thousands of eligible Queensland households. This initiative will directly support the uptake of energy efficient appliances and household batteries, ensuring cost savings, increased choice and greater energy equity for households.