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More energy relief is on the way with Prime Minister Anthony Albanese to shave a further $150 off power bills as part of a pre-election pitch to voters.
The centrepiece of last year's budget was the $3.5 billion in energy bill relief – a $300 rebate, spread over the course of the financial year, for every household in the country.
The Albanese government will now extend the subsidies until the end of 2025 with $150 in rebates automatically applied to electricity bills again, in quarterly instalments.
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Albanese said the government's number one priority was helping the family budget.
"This is another cost of living relief measure that my Government is delivering for Australians while putting downward pressure on inflation," he said in a statement.
"Peter Dutton opposed the $300 energy bill relief to households. His only plan for energy is a $600 billion nuclear scheme that he will cut Medicare to pay for."
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The opposition pledged to support the move but slammed it as a "desperate act".
"At some stage this Ponzi scheme the government is running where they pull money out of your pocket through taxes and then give it back to you and expect you to say thank you," Opposition Leader Peter Dutton said.
According to Treasury estimates, the move will reduce headline inflation by around half of a percentage point, and reduce household bills by 7.5 percent on average nationally, compared to bills without the extension.
The Albanese government said the subsidies resulted in electricity prices falling by 25.2 per cent in 2024, but would have only dipped by 1.6 per cent without the rebates.
The extension of energy bill rebates will cost taxpayers $1.8 billion over the forward estimates.
Shadow Treasurer Angus Taylor called for savings to be made by sacking "back offices" public servants.
"We'll have to back this [electricity bill relief] otherwise Australians will go broke," Nationals leader David Littleproud said.
"This is the last desperate act of a government that has lost control of your power bill and your food bill."
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