Millions eligible for $250 payment to beat rising energy costs
Millions of households will be eligible for a cash bonus to go towards their soaring energy bills in a bid to help beat rising living costs.
Millions of households across Victoria will be eligible for a $250 cash payment to go towards their energy bills in a government bid to help beat rising living costs.
From March 24, all households in the state will be able to apply for a $250 Power Saving Bonus, the second round of the government scheme that encourages residents to compare energy offers and save money.
More than 1.7 million Victorian homes benefited from the current round of the Power Saving Bonus scheme, which launched on July 1, 2022.
Premier Dan Andrews confirmed the second round election promise would come to fruition weeks ago, saying it was about “putting money in families’ pockets and making sure they’re on the best deal”.
“We’re driving down bills and putting power back in Victorians’ hands by bringing back the SEC (State Electricity Commission) and delivering cheap, clean, sustainable energy,” he said in a statement announcing the second round of payments.
The $250 payment is available to any household that visits the government’s Victorian Energy Compare website, even if they already received a first round payment.
It will be open to all eligible households with a residential electricity account that visit the government site or engage with a partnering energy affordability comparison service.
Households that received a first round Power Saving Bonus can apply for the second, meaning they can possibly double their benefit haul to $500.
Victorians can still apply for the initial $250 payment until midnight on Thursday, March 23. Then all households can apply for the second payment from Friday.
To complete the application, you need a recent residential electricity bill and must be the energy account holder. Only one second round payment is available per household.
When applying, you will be shown information about the best-priced electricity offers available in your area. But you will not be required to switch retailers or your energy offers to receive the bonus.
Successful applications will receive the $250 Power Saving Bonus to their nominated bank account within three to 15 days.
For more information and answers to some frequently asked questions, visit the Victorian Energy Compare website. A helpline has also been set-up for those who cannot access the website on 1800 000 832.
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