The 2023 Federal Budget includes some things which will give electricity bill relief to homes and small businesses and improve their energy performance. This will mean upfront and longer-term bill relief for South Australian energy users.

Electricity bill relief

South Australia will access some of the $3 billion of electricity bill relief – from July 2023 eligible households will receive up to $500 and eligible businesses up to $650. These rebates will be distributed to eligible electricity customers via their retailers. More details to come regarding eligibility.

Getting control of energy use

$1 billion of Government funding to improve the energy performance of homes. South Australians will get a share of 110,000 low interest loans to make energy-savings in their homes – this could be more efficient home appliances, better insulation or other energy performance measures which could positively impact your energy bill. Governments and financial institutions will be promoting these loans in the coming months.

A large portion of this fund will go towards partnering with the South Australian Government to improve the energy performance of social housing.

Further relief for small businesses

Small businesses will be able to benefit from a $310 million Small Business Energy Incentive Tax Break. If you decide to electrify your heating/cooling, install a battery, or upgrade to high-efficiency electrical goods:

• If your turnover for the 23/24 financial year is less than $50 million, up to $100k of expenditure will be eligible for the incentive (that’s a maximum bonus tax deduction of $20k per business)
• If your turnover is less than $10 million, you will be able to use the $20k ‘instant asset write-off’ to immediately deduct eligible assets.

Information is power (savings)

$37 million will go towards programs that give households better, information about how they can save energy and reduce their energy bills. We will keep an eye on progress and look to promote these programs with our customers.

The Government is also expanding and upgrading the Nationwide House Energy Rating Scheme (NATHERS) rating system to apply to existing homes, which means people will be able to seek a star rating of their home’s energy performance. This will help people to make more informed choices when it comes to renting and purchasing homes.

Disclaimer: This information is based on initial announcements and early reporting on the 2023 Federal Budget and may be subject to change.