Queenslanders will receive a $175 Cost of Living Rebate on their next power bill.
Premier Annastacia Palaszczuk said rising fuel and grocery prices were taking a toll especially on those on low incomes.
“People are having to make difficult choices including going without,’ the Premier said.
‘The $175 Cost of Living Rebate will make life just that little bit easier and brings to $575 the dividends Queenslanders have received over the past four years.
“In February we announced Queensland households would receive $50 off their power bills later this year because Queenslanders own their power assets – the generators, the transmission and the distribution,” Ms Palaszczuk said.
“With wholesale prices going up due to global instability, we have moved to raise it to $175 because we know the pressure Queenslanders face.
“Electricity providers will automatically apply the credit, so Queenslanders don’t have to apply.
“These are assets that belong to Queenslanders.
“It will mean total rebates to households of $575 over the past four years.”
Treasurer and Minister for Investment Cameron Dick said addressing cost of living issues is at the core of the Palaszczuk Government’s priorities.
“At a state and federal level, Labor Governments govern for people who are doing it tough,” the Treasurer said.
“This $385 million investment will be of most help to people who are disadvantaged, people who need help from rising prices, people who were left behind by the Morrison Government.”
Minister for Energy, Hydrogen and Renewables Mick de Brenni said the $175 Cost of Living Rebate has been increased to take into account rising wholesale electricity prices driven by a combination of global factors and nine years of LNP Coalition inaction.
“We know affordable, reliable power is critical to Queenslanders,” Mr de Brenni said.
Minister de Brenni said the Queensland Government was also investing more than $2 billion to supercharge renewable energy supply and significant battery storage to produce cheaper, cleaner energy but has gone it alone for years.
“We are getting on with the job but Queenslanders are feeling the cost of living hangover of nine years of the failed Abbott-Turnbull-Morrison Government and their flatlining on renewables investment,” Mr de Brenni said.
“The Australian Energy Regulator has this morning pointed out a combination of high peak demand and the impact of the invasion of Ukraine on gas prices have together resulted in a forecast increase in power bills of over 11 per cent.
“We’re working hard to keep downward pressure on prices because every dollar counts right now for Queensland households.”