As all Tasmanians can expect to share in the profits of Hydro with a $250 credit for their power bills, an eligible few will receive a total of $635 in power relief over the next three quarters.
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The earnings from Tasmania's historical hydro scheme could start flowing to reduce power bills as early as next month.
The state government promised a $250 payment off power bills at the last election for all Tasmanian households, and $300 for all small businesses.
The Liberal government will table laws containing its Supercharged Renewable Energy dividend in the first sitting week of parliament, which is scheduled for May 14.
It will release funds to retailers before 30 June, and retailers will apply the credit to the next energy accounts of households and businesses, depending on their billing cycles.
The payment goes to all Tasmanian households with power bills.
It is in addition to the federal government's Energy Bill Relief Fund, where eligible Tasmanians receive a $125 rebate over the next three quarters.
Where does the money come from?
The funding boost comes from Hydro dividends which are usually given to the state government to invest in essential services.
For its latest supercharged dividend promise, the government is dipping into its normal dividend payment from Hydro to pay for the $250 payments.
This year's dividends are $105 million.
The supercharged dividend will be in addition to a $30 credit that arises from the energy dividend scheme, that was announced last year in August.
Under the scheme, when Hydro dividends total more than $90 million, 50 per cent of the excess must be shared with consumers as credit.
The government's 2030 Strong Plan stated that $7.5 million of the $10.5 million excess dividends will be shared with all households via a credit of up to $30 for power bills.
Premier Jeremy Rockliff said the latest one-off payment would provide immediate relief for winter power bills.
"Tasmanians currently have the lowest regulated electricity prices in the nation, supported by our concessions, but we know Tasmanians are feeling the pinch," he said.
