Relief for Victorians: (2023) $250 Power Saving Bonus Confirmed
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Relief for Victorians: 2023 $250 Power Saving Bonus is on its way

If you are moving house or looking for relief on your energy bills in Victoria, good news is on the horizon. Daniel Andrews has announced that the government will release another round of the Power Saving Bonus for 2023, fulfilling their election promise to help residents with the cost of living crisis.

He  said, “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.”

Read on to find out more about how you can secure the VIC power saving bonus for your household.

What is the 2023 $250 Power Saving Bonus?

The $250 Power Saving Bonus is a one-off bonus for all residential electricity account holders, issued through VIC Energy Compare. 

  • Available to all Victorian residential energy accounts
  • Applications open on 24th March 2023
  • Only one payment per household
  • Can be claimed on top of the 2022 payment and the payment for concession recipients
  • Can be claimed on top of any other offers or rebates
  • Money is deposited into your accounts within 2 weeks (if the application is approved)

The 2023 payment is an extension to the 2022 payment which was paid to over 1.7 million homes. Millions of households are again expected to take up the offer this year.

Am I eligible for the $250 Power Saving Bonus?

To be eligible for the $250 Power Saving Bonus you must meet these criteria.

  • Be a resident of Victoria
  • Be the account holder for your electricity bill
  • Have a recent electricity bill available (original PDF)
  • Have not already claimed the 2023 bonus payment for your household

Only one payment is available per household. When you apply your electricity meter number (NMI) will be used to prevent people from double-dipping in households with multiple adults.

If you live in an apartment building with an embedded network, you can claim the bonus, but you might be requested to provide additional supporting documents to complete your application.

AM I ELIGIBLE FOR THE $250 POWER SAVING BONUS - MoveinConnect

What is the application process for the 2023 Power Saving Bonus? 

To apply for the bonus, you need to visit the Victorian Energy Compare website and follow these steps. It should take no more than 10 minutes to complete.

  1. Prepare by gathering the required documents including:
    • A copy of a recent electricity bill (electronic or hard copy)
    • Your ‘NMI’ number – you can find this on your bill, look for a 10 or 11-digit number
    • Your card number for your Pensioner Concession Card or Health Care Card for JobSeekers, Youth Allowance, Austudy and Abstudy recipients, if applicable
    • Your passport, driver’s licence or Medicare card if you are on an embedded network
  2. Visit Victorian Energy Compare on or after 24th March 2023.
  3. Click on the “Submit a $250 Power Saving Bonus application” button to start the application
  4. Enter the required details.
  5. When the application is complete, record your application number in case you need to follow up on your submission.

How long does it take to receive the money?

It should take 2 weeks (10 business days) to receive the funds if you have applied online and chosen to receive the bonus electronically.

There may be delays if your application is incomplete, if VIC Energy Compare needs to ask follow-up questions or if you have chosen to receive your payment via cheque.

How long does it take to receive the money

Can I apply offline? 

You can apply for the $250 Power Saving Bonus by calling the Victorian Energy Compare helpline on 1800 000 832. You should note that phone applications may take slightly longer to process than online applications.

Alternatively, you can contact one of the community groups that the Victorian government has partnered with who offer support for your application as part of a public outreach program. You can read more and find out which community organisations are involved here.

When does the 2023 Power Saving Bonus open?

The Power Saving Bonus opens on 24th March 2023 and will remain open for a year. 

The 2022 bonus is open until midnight on 23rd March 2023. Don’t forget, you are eligible to claim both, so if you haven’t already claimed the first bonus, get online today to make sure you don’t miss out.

Do I have to switch electricity providers to get the $250 bonus?

No, you do not have to switch providers to receive the payment. When you apply with VIC Energy Compare, you will receive comparison information about the cheapest electricity plans in your area, but there is no obligation to switch.

Are there other ways Victorians can save on their bills?

The cost of living is skyrocketing in 2023, with utility bills putting strain on already struggling households. There are several ways you can save money on your home.

Are there other ways Victorians can save on their bills?

1. Compare and switch

On average Victorians spend $1,400 every year just on their electricity bills. You can save hundreds of dollars every year by making sure you are on a plan that suits your needs. You should compare energy plans every 12 months, and whenever you move home.

The experts at Move-In Connect are here to help. We work with a panel of carefully chosen preferred suppliers to bring you cheap electricity deals that can save you money. When you compare with us we will consider plans from:

  • EnergyAustralia
  • ActewAGL
  • Covau
  • Tango Energy
  • Blue NRG
  • Energy Locals

Finding the best deal isn’t just about choosing the cheapest rate. To save money in the long term you need to consider every aspect of your plan. Our experts will look at the following factors to determine which plan will save you the most.

  • Electricity and gas usage rates
  • Tariffs – off-peak, shoulder and/or controlled load
  • Special offers and discounts
  • Fixed-rate vs variable rates
  • Fixed term vs no lock-in contracts or exit fees
  • Energy bundles
  • Other incentives such as rewards shops or partner discounts

It can be overwhelming trying to compare all these things alone. At Move-In Connect, we will do all the hard work for you in one easy phone call, and we can even guide you through the Power Saving Bonus application at the same time.

2. Be energy efficient

You could be using more energy than you realise in your home. In Victoria, all homes are now fitted with Smart Metres. This means you can track your usage in real-time which can help you identify when you are using the most power.

You can try these energy-saving tips to reduce your bill.

  • Run your washing machine. Dryer and pool pump during off-peak hours
  • Switch to LED lights
  • Insulate your floors, doors and windows
  • Use an instant hot water heater
  • Set your heating and cooling system to the optimum temperature
  • Use energy-efficient appliances
  • Turn appliances off at the wall

3. Save on your internet plan

Your energy bills are not the only area you should consider saving money. Move-In Connect can help you find a cheap NBN plan or home internet service that can help get your household budget under control.

We will consider a range of plans available in your area to deliver reliable internet at the speed you need. Our preferred internet providers are:

Summary

If you live in Victoria, there are several ways you can ease the cost of living for your home.

  • Apply for the $250 Power Saving Bonus
  • Compare your energy bills
  • Be energy efficient
  • Compare your NBN plan or internet service

Whether you are moving home or just looking for a better deal, Move-In Connect will take the hassle out of saving money on your bills.

Call us today on 1300 786 045 or enter your details online to use our 100% free comparison tool to make moving house and reducing your bills a breeze.