Victoria brings back $250 Power Saving Bonus payment for energy customers

Victorian households will soon be eligible for a second round of much-needed energy bill relief, just in time for the expensive winter heating season.

The Victorian Government has brought back its $250 Power Saving Bonus, which offers a $250 cash payment to help ease cost of living pressures amid rising energy prices. Originally introduced in February of 2021, the scheme initially targeted concession card holders, but was opened to a wider sector of families in July 2022.

Premier Daniel Andrews promised a second round of payments to help struggling households as part of the 2022 state election campaign. The Premier has since confirmed that the program will re-open in March 2023.

“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,” Andrews said.

How to claim your $250 Power Saving Bonus in Victoria

The new round of $250 payments will commence on March 24. The bonus payment is open to any Victorian household with an account holder who visits the Victorian Energy Compare website, or engages with an energy affordability service or participating community organisation including Anglicare, Consumer Action Law Centre, Ethnic Communities Council Victoria, Good Shepherd, State Trustees and Neighbourhood Houses.

To apply, you’ll need to submit an application through the Victorian Energy Compare site, or with one of the program’s participating community outreach partners. You’ll need to be the account holder listed on your household electricity bill, and only person per household can apply.

As part of your application, you’ll need to submit the following information:

• A recent residential electricity bill – you can upload an original PDF of your bill, or enter details manually and attach a photo or scan of your physical bill.
• Your National Metering Identifier (NMI) number, which is located at the top of your electricity bill.
• Supporting documentation, such as a recent utility bill (gas or water), a rates notice, your driver’s licence or concession card.

Once you’ve submitted your application, you should receive an email in approximately 10 days with an update on your payment.

If your application is successful, your $250 payment should be transferred to your nominated bank account within 3-15 business days. If you’ve selected to receive a bank cheque, this may take up to 20 business days to arrive.

The Victorian Power Saving Bonus scheme is available to both renters and homeowners, provided you have a residential electricity account in your name – you’re also able to apply if you’re on an embedded energy network. However, small businesses, as well as households that are ‘off the grid’ (i.e. not residential energy customers), are ineligible.

Can I still claim the $250 payment from 2022?

If you didn’t apply for the first round of Power Saving Bonus payments, it’s not too late. Applications for the initial $250 payment are open until midnight on March 23, 2023, so simply follow the steps above if you missed out last year. You’ll still be eligible to apply for the second $250 payment from March 24 onwards.

If you have any problems during the application process for either round of payments, you can call Victorian Energy Compare on 1800 000 832 for assistance.

Related: NSW’s $250 Electricity Rebate: When can you apply?

Compare cheap energy plans in Victoria

While the $250 rebate will go some way to ease the stress of increasing energy costs – particularly with Victorians bracing for higher gas prices from major retailers including EnergyAustralia, Origin and Alinta – it’s also worth reviewing your current electricity plan to see if you could be on a better deal.

There’s no one-size-fits all plan, but some of current cheapest providers in Victoria include Tango Energy, GloBird Energy, and 1st Energy. If you’re shopping around, you’ll also want to consider energy discounts such as pay-on-time and direct debit offers, as well as any sign-up incentives or promotions – but make sure these aren’t simply disguising higher usage and supply charges.