Territorians are set to benefit from lower energy costs thanks to bill relief programs from both the Federal and Northern Territory Governments.
With the Federal Government’s energy bill relief credit of $300 for every household combined with the Territory Government’s Community Service Obligation (CSO), power costs for Territory households will be around $1,500 less on average in the 2024–25 financial year compared to if this support wasn’t provided.
Additionally, the Federal Government’s energy bill relief credit for small businesses of $325, combined with the Territory Government’s CSO for small businesses of an average $2,200 each year, Territory small businesses’ power costs will be more than $2,500 on average less in the 2024–25 financial year compared to if this support wasn’t provided.
The Northern Territory 2024–25 Budget provides a total of $164.2 million in community service obligation payments to Power and Water Corporation and electricity retailers to subsidise utility costs.
The Northern Territory Government has said that it knows the importance of these cost-of-living initiatives and the difference they make to a household budget, and that that’s why it is also investing in a range of other cost of living measures to support Territorians.
The government estimates that the Home and Business Battery Scheme saves homeowners and businesses up to $5,000 on the purchase of batteries to store solar power. The installation of a battery saves a home around $900 a year on a power bill.
Northern Territory Minister for Essential Services and Sport, Kate Worden, said that the increased cost of living is being felt by all Territorians.
“That’s why the government is investing more than $200 million in cost-of-living support for Territory households and small businesses,” Ms Worden said.
“We’ve been working with the Federal Government to ensure that extra power bill relief is delivered to Territorians from 1 July.”
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