26 September 2023

Power saving cash for saving cash on energy

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Victorians are to be incentivised to save money on their energy bills with a new power saving bonus announced with the Victorian Budget 2022/23.

Announcing the $250 “bill busting bonus”, Premier Daniel Andrews said households would receive the bonus if they sought out a better energy deal on the Victorian Energy Compare website.

“This is a great opportunity for Victorians to save money, ease the cost of living, and cut their energy bills,” Mr Andrews said.

“Big power companies rely on people not having the time, information or knowledge to save money,” he said.

“But we know better deals are out there.”

Mr Andrews said the new Power Saving Bonus, to run from 1 July this year to 30 June 2023, followed the success of the $50 Power Saving Bonus which was announced as part of the 2018/19 State Budget.

The Premier said the Victorian Energy Compare website was the only free and independent online energy price comparison service available to the State’s 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,” he said.

“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 partners.”

Mr Andrews said households that had previously claimed a $50 or $250 Power Saving Bonus would be eligible for the new one-off payment when the program opened in July.

The Victorian Energy Compare website can be accessed at this PS News link.

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