As the cost of living keeps increasing, many families are struggling to keep up with their expenses. To help, the Australian government is introducing a cost-of-living relief package. This package will provide $700-750 in financial assistance to eligible households to help with their electricity bills. This aid is aimed at easing the burden of high electricity costs during the hottest and coldest months of the year.
What is the $700-750 Cost of Living Program?
The $700-750 cost of living program was introduced earlier this year to help Australians manage their rising electricity bills. The financial aid will be given in two parts: one during the coldest month and one during the hottest month. This way, people can get help when they need it most. The program will give $700 in total, split into two instalments, to eligible households and small businesses in Western Australia.
Who is Eligible for the Financial Aid?
Residential Accounts
All residential electricity accounts in Western Australia qualify for the $700 credit, no matter which electricity retailer they use.
Small Businesses
Over 90,000 small businesses are also eligible for the program. However, specific criteria for business eligibility are not yet publicly available.
How to Claim the Credit?
Automatic Credit for Major Retailers
If your electricity is supplied by Synergy or Horizon Power, the credit will be automatically applied to your bills in two instalments. You don’t need to do anything.
Other Retailers
If you use a different electricity retailer, the process may be slightly different. Applications for the credit are expected to open in July through Revenue WA and the Small Business Development Corporation. Here’s what you need to do:
- Create an Account: Visit the main web portal, find the “Create Account” tab, and follow the instructions to register.
- Meet Eligibility Criteria: Ensure you meet the eligibility conditions. Once verified, the $700 credit will be applied in two instalments.
Important Details
The exact dates for the credit instalments have not yet been announced but are expected to be during the coldest and hottest months of the year. To make the most of this benefit, consider these tips for managing electricity costs:
Energy Efficiency Audits
Request energy efficiency audits from your electricity retailer or a qualified provider. These audits can identify ways to reduce energy consumption in your home or business, potentially leading to long-term savings.
Energy-Efficient Devices
Invest in energy-efficient devices. Look for appliances with high energy star ratings to reduce electricity usage.
Compare Rates
Electricity retailers offer varying rates. Consider comparing plans and switching to a provider with a more competitive offer.
The $700-750 cost of living credit is designed to help eligible individuals reduce their electricity bills, providing immediate financial relief. By using this credit and implementing energy-saving strategies, Western Australians can better manage their electricity costs and navigate the current economic climate. Stay updated on the government’s main portal or contact them for more information about the application procedure and deadlines.
1. Who qualifies for the $700 cost of living credit?
All residential electricity accounts in Western Australia and over 90,000 small businesses, provided they meet specific eligibility criteria.
2. How will the credit be distributed?
The $700 credit will be distributed in two instalments: one during the coldest month and one during the hottest month of the year.
3. Do I need to apply for the credit if I use Synergy or Horizon Power?
No, if your electricity is supplied by Synergy or Horizon Power, the credit will be automatically applied to your bills.
4. How can I apply for the credit if I use a different electricity retailer?
You will need to create an account through the main web portal, meet the eligibility criteria, and follow the application process when it opens in July.
5. What can I do to reduce my electricity bills apart from the credit?
You can request energy efficiency audits, invest in energy-efficient devices, and compare electricity rates from different providers to find a more competitive offer.
