Queensland households will get a $1000 rebate on their power bills this financial year in a move expected to cost the state government $2.5 billion. Premier Steven Miles announced the rebate on Thursday. Last year's rebate was $550. "The bills just keep going up and I've been determined to make sure the Queensland government does absolutely everything we can to ease the pressure," Miles said.
Dick said a rise in royalties would cover the package's funding, rather than borrowing from the state's coffers. "We have had a significant increase in price in the first part of the financial year. That's where the money is," he said. Coal royalties were forecast to boost state revenue by $9.4 billion over five years post-pandemic but since being adopted in 2022, more than $5.8 billion has been contributed to the economy.
Source: Energy Industry News (energyindustrynews.net)
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