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Albanese To Announce Extension Of Energy Price Relief In May Budget

Australian Prime Minister Anthony Albanese is set to make a significant announcement regarding the extension of energy price relief in the upcoming May budget. 

He is expected to highlight the positive impact of the current cost of living measures, asserting that the government has alleviated financial pressures and contributed to combating inflation. 

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“That’s why the energy bill relief package I negotiated with the states and territories delivered up to $650 in savings for around 1 million small businesses, along with 5 million families,” Albanese will say, according to Albanese’s speech copy seen by The Guardian.

Furthermore, Albanese will underscore the importance of promoting the adoption of rooftop solar energy. 

“And as we put together next month’s budget, small businesses and families will again be front and centre in our thinking.”

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The government’s initiative to deliver energy price relief was announced in December 2022, featuring caps on coal and gas prices and $1.5 billion allocated for consumer rebates starting from July 1, 2023. 

This measure aimed to benefit small businesses and households receiving government payments or holding concession cards.

Despite the decrease in power prices compared to the peak of 2022, Labor has faced criticism from the opposition for not adhering to pre-election estimates suggesting that increased renewable energy uptake could lead to household savings of $275 by 2025.

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