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The following chart from Alex Joiner from IFM Investors summarises how the billions of taxpayer dollars spent on energy subsidies have masked the rise in electricity costs:
In 2024–25, households received up to $300 in rebates, and eligible small businesses up to $325, costing the federal budget $3.5 billion.
In the May 2025 Budget, the Albanese government announced a $1.8 billion extension of the Energy Bill Relief Fund. From 1 July 2025 to end‑2025, households and small businesses will receive up to $150 in rebates, applied automatically in two $75 quarterly instalments.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.