Slashing energy bills with $250 power saving bonus

- Posted by Author: Danny Pearson in Category: Media Release | 2 min read

Essendon households will receive a $250 bill busting bonus if they seek out a better energy deal on Victoria’s Energy Compare website – saving hundreds of dollars. As part of the Victorian Budget 2022/23, the Andrews Labor Government will invest $250 million in a new Power Saving Bonus – driving down the cost of living right across the state. From 1 July 2022, the new $250 payment will be open to all households in Essendon who use the Victorian Energy Compare website to compare their energy deal and seek out a better price.

The Victorian Energy Compare website is the only free and independent online energy price comparison service available to Essendon 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.  Combined with the Power Saving Bonus, that means Essendon households could save up to $580 a year.

While the quickest way to submit an application for the $250 Power Saving Bonus will be through the website, Essendon households that 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. The new $250 Power Saving Bonus, to run until 30 June 2023, follows from the success of the $50 Power Saving Bonus announced by the Labor Government as part of the Victorian Budget 2018/19. It also builds on the $250 bonus for concession recipients delivered in the Victorian Budget 2020/21, which remains open to eligible concession card holders only until 30 June 2022.

Eligible concession card holders include those receiving payments through the Pension Concession, JobSeeker, Austudy, Abstudy or Youth Allowance programs, or who hold a Department of Veterans’ Affairs Gold Card. The Power Saving Bonus program has already provided more than $110 million to help more than 850,000 Victorian households look for a better electricity deal. Essendon Households that have previously claimed a $50 or $250 Power Saving Bonus will be eligible for this new one-off payment when the program opens in July.

Quotes attributable to Member for Essendon, Danny Pearson MP

“We’re easing the cost of living for Essendon families – cutting energy bills and saving money.” “

This is about putting power back in the hands of Essendon households, helping them access a better energy deal.”

Quotes attributable to Minister for Energy, Environment and Climate Change Lily D’Ambrosio MP

“This one-off $250 payment provides immediate financial relief for those struggling to pay their power bills – while also helping Victorians find a better energy deal.”

“The fastest way to bust energy bills is to look for a better offer with households able to save an average of $330 in the first year alone – that’s what this Power Saving Bonus is all about.”