As part of the state budget the Victorian Government has promised to invest $250 million in a new Power Saving Bonus, aimed at driving down the cost of living.
From July 1, the new $250 payment will be open to all Victorian households who use the Victorian Energy Compare website to compare their energy deal and seek out a better price.
The Victorian Energy Compare website is the only free and independent online energy price comparison service available to Victorian energy consumers.
User data shows that seven out of every 10 users can save money by switching energy offers, with typical annual savings of $330 on energy bills in the first year of switching alone.
Combined with the Power Saving Bonus, that means Victorian households could save up to $580 a year.
While the quickest way to submit an application for the $250 Power Saving Bonus will be through the website, Victorians who do not have access to a computer or the internet can call the Victorian Energy Compare helpline or receive support from a community outreach partner.
The new $250 Power Saving Bonus will run until June 30, 2023, and follows the $50 Power Saving in a previous budget
It also builds on the $250 bonus for concession recipients delivered in last years budget, which remains open to eligible concession card holders only until June 30.
Eligible concession card holders include those receiving payments through the Pension Concession, JobSeeker, Austudy, Abstudy or Youth Allowance programs, or who hold a Department of Veterans’ Affairs Gold Card.
Victorian Premier Daniel Andrews said households that had previously claimed a $50 or $250 Power Saving Bonus would be eligible for this new one-off payment when the program opened in July.
“This is a great opportunity for Victorians to save money, ease the cost of living, and cut their energy bills,” he said.
“Big power companies rely on people not having the time, information or knowledge to save money.
“But we know better deals are out there — and we’re helping Victorian families find them.”
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