Australia markets open in 6 hours 1 minute
  • ALL ORDS

    6,760.60
    +100.80 (+1.51%)
     
  • AUD/USD

    0.6470
    -0.0054 (-0.83%)
     
  • ASX 200

    6,555.00
    +93.00 (+1.44%)
     
  • OIL

    81.71
    -0.44 (-0.54%)
     
  • GOLD

    1,666.40
    -3.60 (-0.22%)
     
  • BTC-AUD

    29,931.30
    -214.22 (-0.71%)
     
  • CMC Crypto 200

    442.28
    -3.70 (-0.83%)
     

New cash payment for millions of Aussies: 'Easiest $250 you'll ever pocket'

·2-min read
Cash being taken from wallet
Households will need to wait for July 1 to secure their $250 bonus. (Source: Getty)

Victorian Premier Dan Andrews will hand out $250 to households that log into its Energy Compare website.

The website is designed to let households compare their energy deals and seek out a better price.

“It's the easiest $250 you'll ever pocket,” Andrews said.

“You don't have to make the switch but chances are you'll find a provider that will cost you less.”

As many as seven out of 10 users save money by switching providers, according to the Victorian government, saving $330 on average in the first year.

“Big power companies rely on people not having the time, information or knowledge to save money,” Andrews said.

“But we know better deals are out there, and we’re helping Victorian families find them.”

How to get the bonus

Households will need to wait for July 1 to secure their bonus.

The quickest way to submit an application for the $250 will be through the Energy Compare website.

Victorians who do not have access to a computer or the internet can call the Victorian Energy Compare helpline or receive support from community outreach partners to receive the payment.

The government is offering one payment per house. There's no limit on these payments, so they're not going to run out.

The bonus will be available from July 1 and will run until June 30, 2023.

It’s not the first time the Victorian government has paid people to compare energy retailers.

In 2018, the state government offered $50 bonuses to people who jumped on its energy comparison website.

“This is a great opportunity for Victorians to save money, ease the cost of living, and cut their energy bills,” Andrews said.

Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the free Fully Briefed daily newsletter.