The Albanese and Cook Governments have joined forces to deliver cost of living relief to every Western Australian household, with confirmation that the first instalment of a record $700 Household Electricity Credit will begin to roll out next month.

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 WA 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 next month 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 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, 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 WA Labor Government.

It takes total support received by WA 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 our top priority, and together with the Federal Government, we’re ensuring every household in WA receives a record electricity credit this year.

“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 WA.”

As stated by Federal Treasurer Jim Chalmers:

“We’re working closely with the WA 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.”

As stated by Western Australian Treasurer Rita Saffioti:

“We’ve always made it clear that providing cost of living relief to WA 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.”

23 JUNE 2024

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