• $700 Cost-of-Living Rebate on electricity bills for vulnerable households, plus a further $372 under the Queensland Electricity Rebate Scheme, bringing total rebates for Queenslanders doing it toughest to $1,072 in 2023-24
• $550 Cost-of-Living Rebate on electricity bills for all other Queensland households in 2023-24
• $650 rebate on electricity bills in 2023-24 for around 205,000 eligible small businesses, cutting the cost of doing business in Queensland.
• A combined $70 million for other initiatives to keep costs down for households, enable more choice and greater energy equity.

Queenslanders are benefiting from public ownership of their energy system with the 2023-24 Budget delivering the largest cost-of-living relief package in the nation.

The Palaszczuk Government today revealed the 2023-24 Cost of Living Rebate will be more than three times the size of last year’s rebate.

All Queensland households will automatically receive the rebate and, as a result, will have the lowest effective power bills in the national electricity market.

Elderly and the most vulnerable Queenslanders will get the greatest relief, receiving total support of $1,072 per household in 2023-24 including a $700 cost of living rebate – partly funded with the Commonwealth under the National Energy Bill Relief Fund – and $372 through Queensland’s existing Electricity Rebate Scheme.

All remaining households will automatically receive a $550 rebate on their electricity bill in 2023‑24.

At a time when electricity bill increases are being seen across Australia and the rest of the world, these rebates will fully offset typical Queensland household electricity bill increases in 2023-24.

Small businesses will also benefit, with about 205,000 eligible small businesses receiving a $650 rebate on electricity bills in 2023-24 to cut the cost of doing business in Queensland, plus $35 million for the Queensland Business Energy Saving and Transformation Program, which includes targeted support for agriculture to enable advice and contribution to energy efficiency measures and infrastructure.

The budget also allocates $70 million over two years to deliver energy efficiency measures and advice to tens of thousands of eligible Queensland households to directly support energy efficient appliances and household batteries, keeping costs down for households, enabling more choice and greater energy equity.

Quotes attributable the Premier Annastacia Palaszczuk

“This $550 cost-of-living relief will go a long way to help Queenslanders feeling the financial pinch, while our most vulnerable will be further looked after during this tough economic climate.

“We are delivering substantial support that offsets typical household electricity bill increases in 2023-24, with electricity providers applying the credit automatically, making it easy to apply.

“These rebates are largely due to the fact Queenslanders own a majority stake in their electricity system.

“Over the past five years, Queensland households have received $1,125 in rebates.”

Quotes attributable to Treasurer and Minister for Investment Cameron Dick:

“Public ownership of our major energy entities keeps electricity bills down.

“Even before these latest cost-of-living rebates, Queensland’s household electricity bills were among the cheapest in the national electricity market.

“Public ownership ensures profits from the state’s major electricity assets are funnelled back into the pockets of Queenslanders – especially our vulnerable households that need it most.”

Quotes attributable to the Minister for Energy, Renewables and Hydrogen, Mick de Brenni:

“Whilst we do the heavy lifting on the transforming the entire energy system, the Queensland Energy and Jobs Plan also commits to help more Queenslanders take more control of their own energy use.

“Under the LNP, power prices went up 43% and they did nothing, while we have acted and put money back in the pockets of Queenslanders.

“We will invest in conceptual and applied research with universities to work with stakeholders such as Solar Citizens and the Queensland Community Alliance to identify and design solutions to facilitate the roll out of solar for renters.

“The Queensland Energy and Jobs Plan also means Queenslanders will pay less today and tomorrow than they paid under the LNP – and our rebate provides further help to those feeling the pinch.”

Further information

Additional household and business support measures in the 2023-24 Budget include:

• Over $500 million per annum to continue uniform tariffs so that Queenslanders living in regional areas pay similar prices for their electricity as people living in south east Queensland.
• Queensland small to medium sized businesses will benefit from $35 million over three years to support them to reduce their electricity bills while $6.2 million will deliver ongoing support for regional businesses impacted by the phase-out of obsolete tariffs in 2021.
• The Queensland Budget also sets aside $5 million to provide Queensland farmers with relief from fixed charges for pumping water during periods of drought.