Albanese announces $150 energy rebate
Make us a preferred source
Make us a preferred source on Google
The news: Prime Minister Anthony Albanese will offer a $150 rebate on electricity bills until the end of 2025, in what will likely be the most significant new cost-of-living measure in Tuesday's budget.
The context: The Albanese government gave Australians a $300 energy rebate for the 2024-25 financial year, and an extension of this has long been speculated heading into the election which must be held by 19 May.
Albanese will announce on Sunday that Tuesday's budget will include a $150 rebate from 1 July 2025 for every household and around one million small businesses, which will automatically be applied to their electricity bills.
Treasury estimates this will directly reduce headline inflation by around half of a percentage point in 2025, and reduce household bills by 7.5% on average nationally, compared to bills without the extension.
The announcement will spark questions over whether the Coaltition will back the rebates after Opposition Leader Peter Dutton has opted to oppose Labor's previous interventions over the past two-and-half years.
The extension of energy bill rebates will cost $1.8 billion over the forward estimates.
The government will also announce that the ACCC’s inquiry into the national electricity market will be extended for 12 months, helping to ensure households and small businesses are getting a fair deal from their energy retailer.
What they said: "We are going to take a further $150 right off your power bill because helping your family budget is our number one priority," Albanese said.
“This is another cost of living relief measure that my Government is delivering for Australians while putting downward pressure on inflation.
“Peter Dutton opposed the $300 energy bill relief to households. His only plan for energy is a $600 billion nuclear scheme that he will cut Medicare to pay for.”
The source: Prime Minister's Office
