The Victorian Premier, Daniel Andrews, recently announced a cash splash in this week’s budget ahead of the federal elections. As per the announcement, all Victorian households will get a $250 one-off payment to cope with the rising costs of living, inflation, and energy prices. This initiative by the government is covered under the Power Saving Bonus program that will cost the state government $250 million.

The program will run from 1 July 2022 until June 2023 for the households that log on to the government’s Energy Compare website. The government will splash $250 for every household that compares energy deals to save at least 7-in-10 households with an average of $330 a year in bills.

Daniel Andrews further said the budget will include more practical initiatives to deal with the increasing cost of living pressure, soaring fuel prices and food costs.

Who Is Eligible For This Payment?

Every Victorian household is eligible to receive a one-off $250 payment to lower the energy price burden.

What Do I Need To Do?

The process involves the Victorians registering on the Energy Compare website to become eligible for the payment.

This will allow the Victorians to save an additional $330 off energy bills every year by finding a more competitive power deal. The combined savings will turn out to be $600 annually.

When Will The Payment Arrive?

From July 1, Victorians will start receiving payments into their bank account used for online registration.

The new announcement is similar to last year’s $250 Power Saving Bonus launched during the pandemic. With the inflation surpassing the 22-year record, this bonus will certainly help in dealing with the rising living costs. The payment will be dispatched once every household, and there are no chances that anyone can claim it multiple times.