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Premier announces $175 discount on your next power bill

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Power bills will be slashed by $175 under a cost-of-living rebate, the State Government has announced today.

Premier Annastacia Palaszczuk says rising fuel and grocery prices are taking a toll especially on those on low incomes.

“People are having to make difficult choices including going without,’ Ms Palaszczuk says.

‘The $175 Cost of Living Rebate will make life just that little bit easier and brings to $575 the dividends Queenslanders have received over the past four years.

“In February we announced Queensland households would receive $50 off their power bills later this year because Queenslanders own their power assets – the generators, the transmission and the distribution.

“With wholesale prices going up due to global instability, we have moved to raise it to $175 because we know the pressure Queenslanders face.”

Electricity providers will automatically apply the credit, so Queenslanders don’t have to apply.

“It will mean total rebates to households of $575 over the past four years," Ms Palaszczuk says.

The Australian Energy Regulator’s latest Wholesale Markets Quarterly report released today shows electricity prices have quadrupled to $171/MWh in Queensland in the first quarter of 2022, compared to the same period last year.

The report found that demand reached near record highs in Queensland with high humidity and elevated overnight temperatures.

This month, Sunshine Coast energy provider LPE told its 20,000 customers to take their business elsewhere to avoid a massive price hike to their power bills and taken aim at the State Government for skyrocketing costs.

CEO Damien Glanville says the Queensland wholesale electricity market is experiencing extreme and consistent price volatility never previously seen.

He blasted the State Government for what he says is a mismanagement of the sector.

A Department of Energy and Public Works spokesperson says the department continues to work with Queensland’s publicly owned energy generators to put downward pressure on electricity prices.