All Victorian households will be eligible for a $250 Power Saving Bonus after 24 March to go towards their energy bill.

This is the second round of these payments, with many having already benefitted throughout 2022.

The only criteria is for applicants to have a Victorian residential energy account.

How to apply for $250 payment

The bonus is intended as an incentive for households to compare electricity prices and make sure they are getting the cheapest deal.

To apply, Victorians need to lodge an application through the Victorian Energy Compare website.

Those in rural communities who may have trouble accessing this can engage with an energy affordability service through one of the government's community outreach programs.

As part of your application, you will be presented with information about the best-priced electricity offers in your area, but there is no obligation to switch over.

You will just need your residential electricity account information, and to provide a recent electricity bill.

Those who have not claimed the original $250 bonus have until 23 March to do so.

The government says there is no limit on the total number of payments they will distribute, just that it will be capped at one per household.

There was also no indication that this would be the last round.

When the payments were announced last year, Minister for Energy, Environment and Climate Change Lily D’Ambrosio said that the scheme was designed to keep Victorians up to date with the most competitive rates.

“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,” Ms D'Ambrosio said.

“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.”

Any relief for gas?

Gas users in Victoria have already been grappling with price increases of up to 70%.

Recent reports by the Australian Energy Regulator (AER) and ACCC have warned of another potential upcoming gas supply shortage due to marked decreased output from gas fields in the Bass Strait.

Gavin Dufty, head of policy and research at St Vincent de Paul, believes gas consumers in Victoria are at risk.

"If it catches up with us and we can't find solutions or pivot quick enough then we're going to have to work out how we manage that shortfall," Mr Dufty said.

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