Tuesday, 3 May 2022

Ministers statements: power saving bonus

Ms D’AMBROSIO (Mill Park—Minister for Energy, Environment and Climate Change, Minister for Solar Homes) (12:34): I am absolutely delighted to inform the house of the latest action that we are taking to cut the cost of living for Victorians. From 1 July this year every single Victorian household will be eligible for our $250 power saving bonus by simply searching for a better energy deal on the Victorian Energy Compare website. The bonus will not only give immediate relief from cost-of-living pressures but also encourage Victorians to shop around for longer term energy bill savings.

We know that seven out of 10 Victorians can save an average of $330 in the first year alone from their power bills simply by switching their energy offers. Combined with the $250 power saving bonus, that is $580 back in the pockets of hardworking Victorians. And, if you are an eligible concession card holder and you have not already done so, you can claim a $250 bonus right now, plus another payment in July, ensuring that those who need it the most get help from this government. Victorians have responded with a resounding ‘Yes’ to our announcement, with more than 130 000 people visiting our website yesterday alone. That is more than double the previous daily record set under the current power saving bonus.

We have taken on the big energy companies by banning their dodgy marketing practices, including door-to-door sales and cold calling, and we have increased penalties for those that do the wrong thing against hardworking Victorians. We have forced retailers to notify customers of their best offers in the market, and we have introduced the Victorian default offer, which the ACCC cites as the significant factor in reducing retail margins. This is why Victorian power prices are at their lowest level in five years and Victorians are better protected—unlike those opposite, who sold our assets and ensured that retailers put their hands in the pockets of hardworking— (Time expired)