Vic Government $250 Power Saving Bonus

The Run Down

What’s the point of this incentive?

As Victorians struggle through ongoing cost-of-living pressures, every dollar really does count. 

To help combat this, the Victorian Government will again run the $250 Power Saving Bonus in 2023 to help ease financial pressures and encourage Victorians to compare energy offers to see if they can find a better deal and potentially save some money.^{1Victorian Energy Compare, Victorian State Government, $250 Power Savings Bonus} 

Data from the Victorian Government’s Victorian Energy Compare website suggests that seven out of every ten users can save money by switching energy offers, with typical annual savings of $330 on energy bills in the first year of switching.^{2Premier of Victoria, Slashing Energy Bills With $250 Power Saving Bonus} So combined with the Power Saving Bonus, that means Victorian households could save up to $580 in the first year.^{3Premier of Victoria, Slashing Energy Bills With $250 Power Saving Bonus} 

How can you apply for the bonus?

It’s simple and only takes 5-10 minutes to apply!  

All you have to do is have a recent residential energy bill at the ready and visit the Victorian Energy Compare website to submit an application for the bonus from 24 March 2023. 

You must be a Victorian resident, the primary energy account holder and only one bonus is allowable per eligible household.   

Who is eligible for the bonus?

The bonus is open to all Victorian residential energy consumers who use the Victorian Energy Comparison website to compare their energy deal.     

If you haven’t yet applied for the current round of the $250 Power Savings Bonus, you can still apply via the Victorian Energy Comparison website up until midnight on 23 March 2023. Those who claimed from the previous bonus will still be eligible to apply for the upcoming bonus commencing from 24 March 2023.

Go end-to-end with iSelect

It’s 2023 and many of us want the easiest, most direct and most time-saving approach to getting what we want. A one-stop-shop. 

‘We have the technology’ to not only provide you with an energy comparison from our range of plans and providers, but by assisting with switching your energy plan or provider to a provider and plan in our range*. 

So, why not talk to iSelect on 13 19 20 or click here and we’ll try and help you out.