The first instalment of a record $700 Household Electricity Credit from the Albanese and Cook Governments will hit the accounts of Western Australian households next week – the first of two instalments to be provided this financial year.

The Cook Labor Government's 2024-25 State Budget included $492 million to deliver a $400 electricity credit to all households and to more than 90,000 small businesses, while the Albanese Government 2024-25 Budget included a further $300 credit for households and $325 for small businesses.

The cost of living relief initiatives will be combined, with a $700 credit to roll out to every Western Australian household - and a $725 credit for small businesses with annual electricity consumption below 50 megawatt hours - across two instalments.

The first instalment - $350 for households and $362.50 for small businesses - will begin appearing on power bills from next Saturday 20 July. The second instalment will be applied in the December-January billing cycle.

For households and small businesses that do not have an account with Synergy or Horizon Power, applications for assistance are expected to open from 31 July through RevenueWA, while applications through the Small Business Development Corporation opened on 4 July.

For households requiring additional support - including pensioners, veterans and Health Care Card holders - further help is available through the Energy Assistance Payment, increasing total support to over $1,000, while for families with eligible concessions, more than $1,300 in support is available including the Dependent Child Rebate.

The electricity credit is jointly funded by the State and Commonwealth Governments and is the fourth electricity credit delivered by the Western Australian Labor Government.

It takes total support received by Western Australian households in power bill relief to at least $2,100 over the past four years, and small businesses to more than $4,300.