Published on April 15, 2020 11:06 pm, by Pete Lalor
New assistance options from energy companies
Energy costs are a major part of most household budgets these days and heading into winter they are only likely to increase. If you have lost your job or your income has reduced significantly it’s going to be tough paying your energy bills. The good news is there are a range of things in place to help – from energy company hardship procedures to government rebates.
The government has told energy companies that:
The bottom line is, you won’t have the gas or electricity disconnected if you follow some simple steps. The main thing you need to keep in mind is to contact your energy company. They can’t help if they don’t know you need it.
If you are under financial pressure but you can still pay your bill
If you are still working or earning an income and you can still afford to pay the bill but you are worried things might get worse:
If you have lost your job, been stood down or cannot afford to pay the bill
If you cannot afford to pay your bill there are a number of options available:
Government and Energy Provider assistance
The government and energy retailers in each state have specific assistance arrangements. Details of the assistance available in each state is available from the following links.
If you are concerned about the financial impact of COVID-19 or you are facing the uncertainty of losing your job or having your income significantly reduced we can help. Sign up to MoneyBrilliant and we will give you access to a host of tools and features to help you organise your finances and make better decisions about your money. We’ll also give you tailored insights about the financial assistance available from governments and businesses to help you face the economic and financial challenges caused by the COVID-19 pandemic.
This summary has been prepared by MoneyBrilliant Pty Ltd (AFSL 492711, ACL 493068). The information in this summary is of a factual nature only. We are not suggesting or recommending that you take any particular course of action in relation to any financial product or service. It does not take into account your personal circumstances or objectives. If you need financial advice or taxation advice you should seek advice from a licensed financial adviser or tax agent. You may also be able to access additional information from the websites of the Australian Securities and Investment Commission (ASIC) and the relevant product providers.
Peter is the CEO of MoneyBrilliant. He has over 20 years experience in banking, insurance and accounting. Peter has three sons, ranging in age from 16 to 3, is a sport and fitness fanatic and a volunteer firefighter. He is passionate about improving people's lives through making financial services more accessible.