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Millions of Aussies getting $200 cost-of-living relief

Australian people walking in the mall. Australian money notes. Cost-of-living concept.
Victorians will soon get electricity bill relief, with both major parties making the promise ahead of the state election. (Source: Getty)

Electricity relief is coming for Victorians, with both major parties promising cost-of-living handouts ahead of the state election on November 26.

Premier Daniel Andrews announced his government would continue the $250 energy rebate program if re-elected. The $250 Power Saving Bonus is a one-off payment paid to households when they compare electricity providers and look for a better deal.

“Families are suffering because these companies rely on you not to get the best deal,” Andrews said at the Labor campaign launch on Sunday.

Opposition Leader Matthew Guy has also promised to bring down the cost of power bills through the Coalition’s “bill buster policy”. If elected, the Coalition will scrap electricity supply charges for the first six months of 2023, saving households an estimated $235.

The Coalition also promised to stop newly discovered Victorian gas from being exported interstate or overseas, with Guy claiming this would “turbocharge gas production and availability”.

“We will legislate to require that 100 per cent of all new gas produced in Victoria is quarantined for Victorian use,” Guy said.

Energy relief coming

The Federal Government is also considering ways to bring down power costs, including government intervention in the energy market and cash handouts (although this option is less likely). Treasurer Jim Chalmers said the Government intended to have a plan by Christmas.

Energy bills are forecast to skyrocket by 50 per cent over the next two years, with Treasury estimating a 20 per cent rise in late 2022 and a further 30 per cent increase in 2023-2024.

Recent research by the Consumer Policy Research Centre found Aussies were missing out on energy concessions and rebates, with some worth up to $750. This includes Aussies with a valid concession card, such as the pension card, health care card or DVA gold card.

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