As Australians feel the effects of winter, heating and general energy costs have become a major concern and a hot topic. At Compare Club we’re finding many people want to know how the $300 federal energy rebate will be applied so they can start saving on energy bills.
How will the $300 energy rebate work?
The simple answer is that the rebate will be applied automatically each quarter to most households. This removes the hassle of submitting applications and waiting periods.
Compare Club partners have confirmed that the rebate will be clearly outlined on energy bills.
Kate Browne, head of research, explains: “The great news with this new $300 rebate is that it will be automatically applied to your bill, meaning there’s no need to call or apply. It will appear as a $75 credit on each quarterly bill that households receive.”
Many Aussies are also wondering what will happen to their rebate if they switch providers during the year. In this case, the rebate will carry over to the new provider, regardless of the number of times you switch, ensuring you’ll receive relief year-round.
Is it worth switching providers for a better deal?
While the $300 rebate is beneficial, it may not be enough to make a substantial dent in your bills. Instead, combining it with other strategies can significantly reduce how much you pay on your energy.
One of the most effective ways to save on energy bills is by switching providers. Compare Club’s internal research shows significant savings for people who are able to compare and switch quickly.
Given that the winter season comes with a steep, on average, $200 bill increase due to heating costs, switching as soon as possible can maximise your savings on heating costs.* This is especially true for those living in South Australia, New South Wales, Victoria and the ACT.*
Important tip: consider shopping around for a better deal before the cold sets in each year to make the most of potential savings.
In the meantime, we’ve done the homework. Here are some of the best offers available right now across Australia.
New South Wales
Energy offers of up to 23 per cent off the reference price plus a $100 bonus for movers.
Queensland
Discounts up to 20 per cent with an additional 5 per cent discount and $150 credit for residents serviced by Energex.
Victoria
Discounts of up to 26 per cent on fixed rates until August 2025, with additional offers such as a $100 bonus.
South Australia:
Discounts up to 12 per cent off the reference price, with some deals including a $100 bonus for movers.
“If you combine your new $300 rebate and compare and switch energy providers, you could knock off several hundred dollars from your overall energy bill. It’s so quick and easy to compare and switch, and so many people are not on the cheapest deal,” says Ms Browne.
“We’ve seen customers at Compare Club who have saved up to $2000 a year on their energy bills by doing this. As we shiver through winter, energy use is high so this is a great time to save some money.”
Are there any additional rebates or savings?
Beyond the $300 rebate, there are numerous other concessions available for people with a Commonwealth concession card such as a Centrelink Pensioner Concession Card, Centrelink HealthCare Card, or Veterans’ Affairs Gold Card.
An estimated 60 per cent of eligible Australians are missing out on concessions on their energy bills simply because they aren’t aware of them. To see if you qualify, ask your energy retailer or check your state government website for more details.
Here are some of the available concessions, state by state:
New South Wales
- Low Income Household Rebate ($285/year).
- Family Energy Rebate (up to $180/year).
- Specific rebates for medical needs (up to $285/year) and seniors ($200/year).
- The NSW Energy Savings Scheme helps households save up to $1915 annually through various upgrades, including LED lighting and energy-efficient appliances.
Queensland
- Cost of Living Rebate ($1,000 for 2024-25).
- Electricity and Natural Gas Rebate ($372.20 for electricity, $86.75 for gas).
Victoria
- Percentage-based concessions are available:
- Annual Electricity Concession (17.5 per cent off bills)
- Winter Gas Concession (17.5 per cent off winter bills).
- Additional rebates are available for medical cooling and life support needs.
- The Victorian Energy Upgrades (VEU) program offers savings between $120 and $1100 annually through energy-efficient upgrades.
South Australia
- Energy Bill Concession ($263.15/year for electricity and gas).
- Medical Heating and Cooling Concession ($263.15/year).
Western Australia
- Household Electricity Credit ($400 one-off payment).
- Energy Assistance Payment ($326.33/year).
While the $300 rebate is a small but welcome relief to the cost of living pressures, between switching providers and looking into concessions, there are plenty of ways to maximise your energy savings.
Why not take full advantage of the financial support available to you and start slashing your energy bills today?
* https://www.energycouncil.com.au/analysis/winter-energy-bills-avoid-a-shock/
Are you claiming all your energy concessions? Are there any you’ve missed? Let us know in the comments section below.
Also read: Simple energy-saving tips for winter
Financial disclaimer: The information contained on this web page is of general nature only and has been prepared without taking into consideration your objectives, needs and financial situation. You should check with a financial professional before making any decisions. Any opinions expressed within an article are those of the author and do not specifically reflect the views of Compare Club Australia Pty Ltd.
