Bundaberg Region residents are set to receive a deduction on their next power bill as part of a Cost of Living Rebate.
Premier Annastacia Palaszczuk announced residents state-wide would receive the $175 rebate while stating 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.
“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 many people would benefit from the power bill rebate.
“This $385 million investment will be of most help to people who are disadvantaged, people who need help from rising prices,” he said.
Minister for Energy, Hydrogen and Renewables Mick de Brenni said the $175 Cost of Living Rebate had been increased to take into account rising wholesale electricity prices driven by a combination of global factors.
“We know affordable, reliable power is critical to Queenslanders,” Mr de Brenni said.
According to Mr de Brenni, 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.
“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,” he said.
“We’re working hard to keep downward pressure on prices because every dollar counts right now for Queensland households.”