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Victorian Government VEC $50 cash incentive scheme

From July 2018, every Victorian household will be able to get $50 by visiting the Victorian Energy Compare website and completing their energy profile – this requires the customer to enter data about their property, their usage and upload a recent electricity bill. You won’t need to switch energy retailers to get the $50. This initiative has been implemented by the Victorian State Government and is not connected to any energy retailers.
Getting $50 just by completing an energy bill compare seems pretty good! But be aware of the offers you see on the website. Some offers may have an attractively high discount that disappears if you miss a payment date or an offer may not be available to you, or may contain other fees. Tip: make sure you compare the base rates of the offer and check the details of any discounts or fees. A retailer could offer you a 40% discount, but if you miss their pay on time requirements, you could be paying almost DOUBLE on your power bill. Bottom line – make sure the price you pay is good for you, and that the offer doesn’t disappear unfairly.
You’ll need to be an account holder for a Victorian electricity bill and must live at the address on the bill. The Queensland and NSW governments have separate comparison websites.
Visit the ‘Victorian Energy Compare’ site between 1st of July and 31st of December 2018. You’ll need to be an account holder for a Victorian electricity bill and must live at the address on the bill. If you’ve answered yes to the above, you’ll then need to:
  • Complete your energy profile, which could include: property details, number of rooms, number of occupants, appliances, how do you heat and cool the home etc…
  • Update your usage from a recent bill.
  • Upload a recent bill (all pages) in a PDF form.
  • Leave your contact details.
The $50 Power Saving Bonus will then be paid as a bank cheque, which can be deposited at your local bank branch. It should arrive within 4 – 6 weeks after completing your application. Importantly, you don’t have to take up any offers or switch your retailer to get the $50!
Getting $50 just by completing an energy bill compare seems pretty good! But be aware of the offers you see on the website. Some offers may have an attractively high discount that disappears if you miss a payment date or an offer may not be available to you, or may contain other fees. Tip: make sure you compare the base rates of the offer and check the details of any discounts or fees. A retailer could offer you a 40% discount, but if you miss their pay on time requirements, you could be paying almost DOUBLE on your power bill. Bottom line – make sure the price you pay is good for you, and that the offer doesn’t disappear unfairly. e honeymoon period.