Asset ownership dividend
The Queensland Government has pledged to give households an asset ownership dividend, through their electricity bills.
The dividend payment of $50 per year will be automatically credited to active residential accounts for customers using less than 100 megawatt hours of electricity per year.
The next dividend payment will be automatically credited to eligible, active residential accounts on 31 August 2020, with customers to start seeing the rebate on electricity bills from early September 2020, depending on when their next bill falls due..
The asset ownership dividend is in addition to any energy rebates and concessions you may already receive.
Learn more about the electricity asset ownership dividend.
Frequently asked questions
About the dividend
What is the Asset Ownership Dividend? Why am I receiving it?
The Queensland Government has announced an additional $50 Asset Ownership Dividend for Queensland households. Because Queensland’s power assets are publicly owned, Queenslanders are able to share in the dividends.
Around $200 million from the dividends of government-owned corporations has already been used to provide households with an automatic $50 bill credit in 2018, 2019 and 2020.
When will the Dividend be paid? Do customers need to apply?
The Dividend will be applied automatically as a credit to each residential electricity bill issued after 31 August 2020, with customers to start seeing the rebate on electricity bills from early September 2020, depending on when their next bill falls due.
How will customers know they have received the Dividend?
Electricity bills issued after 31 August 2020 will show a $50 credit.
The first page of your bill will display the following message: “Important – You’ve received the $50 Queensland Government Asset Ownership Dividend as a credit on this account. For details visit ergon.com.au/dividend”.
Under the “Other Charges & Credits” section of your bill you will also see a $50 credit, with the wording “Qld Govt Asset Ownership Dividend”.
Does GST apply to the Dividend?
The Dividend is exempted from GST and most retailers are noting this on customers’ electricity bills. Should customers have any queries about the application of the $50 dividend credit on their bill, they should contact us on 13 10 46.
Can I have the $50 dividend refunded to me via EFT or cheque?
You can obtain a refund of the dividend if:
- You are finalising your account, will no longer hold any active account with Ergon Energy Retail and your account is in credit.
- You have solar and are regularly in credit. In this case you are eligible for a full refund, inclusive of the Asset Ownership Dividend.
- You have an active Direct Debit that is regularly in credit. In this instance you are only eligible for a full refund of the credit balance after the $50 Asset Ownership Dividend has been absorbed by energy usage. i.e. the bill issued after the bill with the dividend applied.
Will all households receive the $50 Asset Ownership Dividend payment?
The $50 dividend is being provided to active residential electricity accounts who receive a stand-alone bill for their electricity use.
This includes households who pay electricity to their landlord, property manager, caravan park owner or body corporate in an on-supply (exempt seller) arrangement. These customers will have the Dividend credited to their bills by their on-supplier.
Households with card-operated meters are also eligible for the rebate. The rebate will be available on their orange power cards (linked card) from 31 August 2020. Similar to the way that the card operated meter customers receive the Electricity Rebate, customers can collect this from the Retail Agent.
Will customers who receive their electricity bill from a body corporate or a site manager receive the Dividend?
Not all households have an account with an electricity retailer. In some situations a landlord, property manager, park owner or body corporate buys electricity in bulk and on-sells this to residents based on their metered consumption. This is known as an on-supply (exempt seller) arrangement.
On-supply customers will also receive the $50 Dividend. Arrangements are in place such that residential complex owners or managers will receive a credit on their electricity bill for the number of households they manage, and they will pass each rebate onto households as part of their next bill. If residents/on supply-customers haven’t received this assistance, they should contact their embedded network owner (body corporate, caravan park owner, etc).
Will the Dividend affect my other concessions?
No. The Asset Ownership Dividend will be provided to all Queensland households, and does not affect customers’ eligibility for any other Queensland Government concession or rebate, such as the Queensland Government’s annual $341 Electricity Rebate.
Will customers using card operated electricity meters in remote communities receive the rebate?
Yes. The rebate will become available for transfer to these customers’ orange power card (linked card) after 31 August 2020.
If electricity is included in customers’ rent and they don’t receive a separate electricity bill – will they still receive the $50 Dividend?
No. To receive the Dividend customers must receive a stand-alone bill for their electricity supply/consumption.
If a customer is currently in credit with their provider – will they still receive the $50 Dividend?
Yes. The $50 Dividend will still be applied to the bill for those customers who may be in credit.
Embedded network owners
What action do operators or owners of embedded electricity networks need to take?
The Queensland Government is asking all embedded network owners to identify with their electricity retailer to ensure their embedded network customers are provided with the AOD.
Embedded network owners need to contact their electricity retailer to ensure that their embedded network customers (residents) are provided with the $50 Dividend. To help identify eligible residents, embedded network operators need to notify their retailer of the number of occupied households within their network. A special Form (Form 511) has been provided to electricity retailers, and to embedded network industry groups, for this purpose.
If you’re one of our embedded network customers, you’ll need to:
- Complete the application for asset ownership dividend form
- Provide the number of occupied households you expect to have in your embedded network on 31 August 2020,
- Return the form as soon as possible to Ergon Energy Retail:
- Email: firstname.lastname@example.org
Once the form is completed and returned, we will provide a bulk credit to you (i.e. $50 x number of occupied households) on your next bill. You will then provide the $50 Asset Ownership Dividend to residents on their next bill.
We understand that some exempt sellers engage a third-party meter reading and billing service. In this case you may wish to contact your third-party provider for assistance.
Embedded network operators are responsible for passing on the $50 rebate to their residents on their next bill.
NOTE: Failure to pass on the dividend to residents is a breach of condition 12 of your retail exemption conditions with the Australian Energy Regulator.