Power companies to put $50 back in your pocket

Queensland Government media release

Queenslanders are set to receive another $50 cut in their electricity bills – the sixth asset ownership dividend in four years.

Premier Annastacia Palaszczuk said the latest dividend is in addition to $200 received in 2020 to help during COVID.

Premier Annastacia Palaszczuk said the government recognised the pressure on household budgets and have responded with a sixth round of the Asset Ownership Dividend.

“Queensland households will receive $50 off their power bills later this year because we own our power assets – the generators, the transmission and the distribution,” Ms Palaszczuk said.

“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 power rebates to households of $450.

Treasurer Cameron Dick said the rebate was a dividend for the hard work and diligence of Queenslanders through the pandemic.

“From job creation to economic growth and retail sales, Queensland is leading the nation as we emerge from the shadow of Omicron,” the Treasurer said.

“It is only right that all Queenslanders get to share in the benefits that brings to our state.”

Minister for Energy, Hydrogen and Renewables Mick de Brenni said the government recognised affordable, reliable power was critical to Queenslanders.

“We’re doing everything we can to keep downward pressure on prices,” the Minister said.

“Every dollar counts right now for Queensland households.

“We are working on an Energy Plan that will chart our path to a clean energy future and the jobs that will create for Queenslanders.

“But we are also determined to keep downward pressure on power bills now, and our proud ownership of our power companies means we can return $50 to the pockets of Queenslanders.”

Minister de Brenni said the Queensland Government was also investing more than $2 billion to supercharge renewables to produce cleaner, greener and cheaper energy but could not go it alone.

“The Federal Government needs to step up,” Mr de Brenni said.

“While he has inked agreements with other states, he hasn’t committed a cent to Queensland.”

Find out more about power dividend payments in Queensland.