A Minns Labor Government will help ease the cost of rising electricity bills for 320,000 eligible small businesses and 1.6 million eligible NSW families and households.
Labor’s $485 million Energy Relief Fund will help lower power bills and fight inflation.
Labor’s plan will also ensure NSW meets its responsibilities under the agreement made between the Federal and State Governments at National Cabinet.
Energy Bill Relief for Small Businesses
Small businesses across the state are struggling under rising electricity costs. NSW can’t afford to lose small businesses because they can’t afford to keep the lights on.
Small businesses make up 98 per cent of all businesses in NSW and employ 1.8 million people. If they close down, people lose their jobs, their livelihoods and their ability to make ends meet.
That’s why under Labor, eligible NSW small businesses will receive $315 directly off their energy bill.
And when matched by funding from the Commonwealth Government’s rebate scheme, around 320,000 eligible NSW small businesses will see $630 directly debited off their electricity bill.
To be eligible for the rebate small businesses must meet the standard criteria set out under National Energy Retail Law – a maximum of 100 MWh of electricity per year.
Energy Bill Relief for Households
Labor’s Energy Relief Fund will mean NSW households who are hit hardest by rising electricity prices will receive $250 directly off their energy bill.
And when matched with $250 from the Commonwealth Government’s Energy Bill Relief Fund, around 1.6 million eligible households will get $500 off their electricity bills.
The targeted scheme means deductions will be applied directly to bills, for one year and will be provided as quarterly instalments. This will be on top of any other existing rebates received in 2023-24.
The rebate will apply to households receiving income support; pensioners and Commonwealth Seniors Health Card holders; and Family Tax Benefit recipients.
Labor’s plan will deliver effective, targeted energy bill relief to those who need it most – without onerous application processes or the requirement to apply or look elsewhere – under Labor, it’s automatically applied to bills.
Electricity prices and privatisation under the NSW Liberals and Nationals
NSW can’t risk another four more years of Dominic Perrottet and his privatisation agenda – it means NSW ends up paying more in the long run.
They privatised electricity and now NSW households pay $100 more than needed for power per year, with the biggest brunt borne by areas served by privatised electricity networks.
Customers of Endeavour Energy paid $200 a year more than they should, Ausgrid customers over $100, while Essential Energy customers paid a mere $10 extra a year. Meanwhile prices are up 40% per cent since 2015.
Labor’s plan for affordable, secure energy for NSW
Today’s announcement is just one part of Labor’s plan to reduce the cost of living for families, households and small businesses and deliver secure, reliable and clean energy to NSW. Labor has already announced:
- No more privatisation. We will legislate to stop it.
- A NSW Energy Security Corporation to accelerate investment in renewables and keep the lights on.
- Legislate emissions reduction targets of 50 per cent by 2030 and net zero by 2050.
Quotes attributable to Chris Minns, NSW Labor Leader:
“The single biggest concern for small businesses and households right now is cost of living.
“I know small businesses are doing it really tough right now. The cost of everything is going up, electricity prices are going through the roof.
“These small businesses are doing everything they can to stay afloat. But the government needs to play its part.
“Labor’s plan will automatically reduce bills. It won’t require messing around online. And it won’t ignore the small businesses who are a powerhouse of our state and are doing it really tough right now.
“Labor’s plan gets the balance right between short term, targeted relief and long term form to fix the energy crisis. And under Labor there will be no more privatisation.”
Quotes attributable to Daniel Mookhey, NSW Shadow Treasurer:
“Mr Perrottet and Mr Kean’s obsession with privatisation leaves households and taxpayers few good options when there is an energy crisis, let alone a cost of living crisis as well.
“Taxpayers of all kinds around NSW are doing it tough to keep energy company super profits at record highs.
“The choice couldn’t be clearer: more privatised assets lost to taxpayers like Sydney Water and Essential Energy – or real cost of living relief combined with genuine reform to energy security.”
Quotes attributable to Jihad Dib, NSW Shadow Minister for Energy & Climate Change:
“Matt Kean has been in a parallel universe over the last week, trying to convince people that energy prices are going down on his watch. Families aren’t buying it and they need help.
“We are in a cost-of-living crisis compounded by an energy crisis. Responsible governments need long term plans accompanied by short term relief.”
Quotes attributable to Steve Kamper, NSW Shadow Minister for Small Business:
“Small businesses have been forgotten by Dominic Perrottet and the NSW Liberals and Nationals.
“Under Labor, they get support to help with rising energy bills.
“I don’t want to see small businesses close because they can’t afford to keep the lights on.”
CHRIS MINNS MP
NSW LABOR LEADER
DANIEL MOOKHEY MLC
NSW SHADOW TREASURER
JIHAD DIB MP
NSW SHADOW MINISTER FOR ENERGY AND CLIMATE CHANGE
STEVE KAMPER MP
NSW SHADOW MINISTER FOR SMALL BUSINESS
