Households and small businesses in south east Queensland are set to get a bigger discount on their electricity bills than the $175 they got this year.
The Australian energy regulator is considering allowing electricity retailers to increase annual residential energy bills by $321 to $1,941 and small business bills from $669 to $4,115 in the state’s southeast from the next fiscal year.
The regulator’s decision would also allow retailers to raise bills by $383 to $2,344 for households in the area with separate meters for appliances such as hot water storage systems.
The Queensland Competition Authority is due to make its final decision on electricity rates for homes and businesses outside the South East on June 9.
Queensland’s premier, Anastasia Palaszczuk, says households and small businesses in the southeast will get rebates on electricity bills in the next state budget.
The rebates will be determined by federal subsidies and the regulator’s final decision in May, but they’re promised they’ll be greater than the $175 offered in the current fiscal year.
Ms Palaszczuk told Parliament on Wednesday: “The strength of our economy provides Queenslanders with the budget capacity to support Queenslanders with the cost of living.”
“Today I can confirm that our government will offer another discount on household electricity bills in the next fiscal year.
“We are committed to providing more support to households to help with the effects of global inflation.”
The prime minister blamed the Ukraine war and sanctions against Russia for driving up coal, gas and electricity prices in Queensland.
It said rising fossil fuel prices and the closure of the Liddell power station in New South Wales’ Hunter Valley were offsetting downward pressure on prices from renewable energy generation projects coming online.
“That is why it is so important that we invest in more solar and wind farms as we work to achieve 70 percent renewable energy by 2032,” she said.
“Our government is only able to provide cost-of-living support to families and deliver the Queensland Energy and Jobs Scheme because Queenslanders own our energy assets.”
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