Australians are set to get a $300 discount on their energy bills from July 1.
The discount is under a $3.5 billion cost-of-living package included in the federal budget of the coming year.
Not only the all 10 million Australian households will benefit from the Energy Bill Relief Fund but also small businesses will, around a million eligible organisations will get $325 off their power bills while households will receive $300.
The ABS has shown how cutting energy bills directly cuts inflation too as the relief is a rebate rather than a direct cash payment, the move will bring inflation down by 0.5 per cent this year alone.
This will take the edge off inflation and won’t add to inflationary pressures elsewhere in the economy.
No application needed to get the rebate, hence, it will be applied automatically to electricity bills by energy retailers.
