$50 Power Savings Bonus

01 July 2018
$50 Power Savings Bonus

Victorians can now register for the Victorian Government’s $50 Power Saving Bonus when they visit the Victorian Energy Compare website and search for a better deal on their gas and electricity bills.

Premier Daniel Andrews encouraged households across the state to get online and register for the bonus, which will encourage more people to compare their energy deal and save money.

Hundreds of thousands of Victorians are expected to compare deals and receive the bonus over coming months as a result of this new initiative.

On average, Victorians who use the independent comparison website save $330 on their energy bills in the first year alone – with seven out of 10 finding a better deal by switching retail offers.

Energy retailers are expected to bring prices down to entice this surge of potential new customers – easing the cost of living for Victorian households.

To be eligible for the $50 bonus, households will simply have to use the website between 1 July and 31 December 2018. People just need to compare deals – they are not required to take up an offer or switch plans.

The scheme includes rigorous security measures to ensure that the bonus is only eligible to energy customers in each Victorian household.

The new online system will check hundreds of thousands of electronic bills and energy metre numbers to verify details provided, and cheques will be mailed to make sure the bonus is only received by Victorian energy customers.

The Victorian Government funded the $48 million Power Saving Bonus in the Victorian Budget 2018/19 to encourage Victorians to get a better deal on their energy bills.

To search for a better energy deal and register for a $50 Power Saving Bonus, visit compare.energy.vic.gov.au

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