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Asset ownership dividend

The Queensland Government has pledged to give households an asset ownership dividend for two years, through their electricity bills.

The dividend payments 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 first $50 payment was made on 7 April 2020 and is included in the Queensland Government Utility Relief package.

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 previously announced a $50 Asset Ownership Dividend for Queensland households for the next three years (in 2020, 2021 and 2022). 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 and 2019.

The $300 million household relief package provides an extra $150 for households on top of this, for a total of $200 in utility relief in 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 7 April 2020, so customers will see the Dividend on the bill that covers this date as it was included in the QLD Government Utility Relief Package.

How will customers know they have received the Dividend?

Electricity bills issued after 7th April 2020 will show a $200 credit, with the wording

Residential - "You've received the $200 Queensland Government Utility Bill Relief Assistance credit on this account. For details visit ergon.com.au/retail" 

Business - "You've received the $500 Queensland Government Utility Bill Relief Assistance credit on this account. For details visit ergon.com.au/retail"

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.

Eligibility

Will all households receive the $50 Asset Ownership Dividend payment?

The $50 dividend is being provided to households who receive a stand-alone bill for their electricity use. Households must have an account that is active on 3 April 2020.

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 become available for transfer to their orange power cards (linked card) from 7 April 2020. Similar to the way that the card operated meter customers receive the Electricity Rebate, customers can choose when the Dividend is to be transferred onto their linked card. Further information can be found in the Coronavirus FAQ's.

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 by end July 2020, 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) from 7 April 2020. Similar to the Electricity Rebate, customers using card operated meters will be able to choose when the Asset Ownership Dividend is to be transferred onto their linked card.

I receive my electricity bill from a body corporate or similar. Will I get the dividend?

Yes. If you receive a bill from an on-seller such as a body corporate, landlord, property manager or caravan park, they will receive your dividend credit on their bill and pass it onto you through your next electricity bill. If you haven’t received the dividend by July 2020, please contact your on-seller.

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?

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:

Retailers will provide a bulk credit via the embedded network operators’ bill, i.e. $50 x number of occupied households, on the corresponding bill that covers 3 April 2020. For households within embedded networks to receive the rebate, they must receive a stand-alone bill for their electricity use, and be an occupant of the premises (hold an open account) on 3 April 2020.

Embedded network operators are responsible for passing on the $50 rebate to their residents on their next bill.

Please note the initial $50 credit applied in 2020 will also have  the additional QLD Government Utility Relief  credit of $150 applied, totalling $200. Asset dividend payments in 2021, 2022 will return to the nominated amount of $50 only.