$250 power saving bonus back

Local households can receive a $250 payment if they seek out a better energy deal on Victoria’s Energy Compare website.

Households across northern Victoria will receive a $250 bill busting bonus if they seek out a better energy deal on Victoria’s Energy Compare website – saving hundreds of dollars.

Member for Northern Victoria, Mark Gepp MP welcomed the expansion to all households and is encouraging locals to apply for the one-off payment to help ease the rising cost of living pressures as well as potentially find a better deal on the ongoing energy expenses.

From July 1, 2022, the new $250 payment will be open to 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 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 local 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, Northern Victorian households that do not have access to a computer or the internet can call the Victorian Energy Compare helpline or receive support from a community outreach partners such as their local Neighbourhood House.

The new $250 Power Saving Bonus, to run until 30 June 2023, follows from the success of the $50 Power Saving Bonus announced by the Victorian Government as part of the Victorian Budget 2018/19.

It also builds on the $250 bonus for concession recipients delivered in the Victorian Budget 2020/21, which remains open to eligible concession card holders only until 30 June 2022.

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.

Member for Northern Victoria Mark Gepp said the Power Saving Bonus program has already provided more than $110 million to help more than 850,000 Victorian households look for a better electricity deal.

“We’re easing the cost of living for Northern Victorian families – cutting energy bills and saving money,” Mr Gepp said.

“This is about putting power back in the hands of local householders, helping them access a better energy deal and going some way in helping ease the pressures of the rising cost of living.”

Households that have previously claimed a $50 or $250 Power Saving Bonus will be eligible for this new one-off payment when the program opens in July.