Just when we thought the cost-of-living pressures really escalated last year, 2023 is already serving up some genuine financial challenges. From interest rates going through the roof and petrol prices skyrocketing to rent increases and expensive grocery bills, it's a lot right now – and not a particularly fun time to be paying bills, either. Thankfully, Victorian premier Daniel Andrews has just announced that the $250 Power Saving Bonus is back to help ease the stress we're all currently experiencing.
The original round of rebates launched on July 1, 2022, and resulted in 1.7 million Victorian households taking up the offer. Applications for the new payment will reopen on March 24, 2023, and can be made through the Victorian Energy Compare website, where you can quickly and easily compare your current energy provider against competitors to find the best deal possible – potentially saving you hundreds of dollars.
“We know Victorians are doing it tough with the rising cost of energy – that’s why we’ll have a new round of the $250 Power Saving Bonus, putting money in families’ pockets and making sure they’re on the best deal,” said Andrews. “We’re driving down bills and putting power back in Victorians’ hands by bringing back the SEC and delivering cheap, clean, sustainable energy.”
The Labor government is also reducing the cost-of-living stress by introducing the new Energy Assistance Program, a free service providing one-on-one assistance to energy consumers experiencing hardship. The $3.75 million initiative will help Victorians struggling with power bills to navigate the energy market, apply for eligible grants and concessions, find and switch to better offers and address billing errors.
While the quickest and easiest way to claim your rebate is online, any Victorian without access to the internet or a computer can call the Victorian Energy Compare helpline on 1800 000 832. To be eligible, you must be the named account holder – and only one $250 payment is available to each household.
The new Power Saving Bonus is available from March 24, 2023, and will be paid into your nominated bank account via EFT. If you haven't yet applied for the previous round, you can submit an application here before March 23, 2023. Find out more via the Power Saving Bonus FAQ page.