Power supplies had returned in Texas but tens of thousands of homes were still without electricity as crews struggled to repair downed lines
Power supplies had returned in Texas but tens of thousands of homes were still without electricity as crews struggled to repair downed lines AFP / Thomas Shea

Residents of Queensland will receive a AU$1,000 rebate on their power bills starting July, as part of a $2.5 billion assistance package proposed by the government.

The newly set up government fund seeks to mitigate the financial burden that rising energy prices are placing on families. Residents will get AU$1,000 in upfront bill credits, while seniors and concession card members will receive AU$1,372, the Queensland government said in a statement.

"Queenslanders tell me that inflation and rising mortgage payments, rents, and grocery prices are their biggest concern. I said we would use the budget to deliver cost of living relief but I've decided it's too urgent to wait that long," Premiere Steven Miles said.

With the plan in the cards, Australia is set to witness the biggest rebate of its history, exceeding the AU$200-$500 range offered in other states, reported 7News.

"It's the biggest ever rebate offered by any government in Australia's history and is expected to save Queenslanders more than $2.5 billion," Deputy Premier Cameron Dick said.

The concession is anticipated to result in a 50% reduction in the average annual power cost. In addition, the government intends to assist citizens with additional expenses. The federal government will also provide funds to assist with energy costs in a week.

The government is stepping in to assist lighten the burden of skyrocketing living expenditures as Australia prepares for the June budget. Authorities want to take direct action against growing costs and housing affordability by implementing many beneficial policies, 7News reported.

A noteworthy move entails collaborating with states and territories to provide up to AU$3 billion in direct assistance with energy expenses. It is anticipated that over 5 million families and small enterprises would benefit from the effort.