Who can expect an energy bill drop with the new Victorian price rebates?

By Tom Watson ·

Victorian households could find some welcome price relief on their next energy bills after a number of rebates announced by the State Government late last year kicked in on January 1.

The new rebates scheme is expected to save nearly 300,000 Victorian households hundreds of dollars on their energy bills during 2018, with Premier Daniel Andrews suggesting that Victorians on default (standing) electricity plans would likely see the largest cuts.  

“This makes things fairer for the one in ten Victorians who are on costly default energy deals and are paying too much for their power,” said Premier Andrews in November.

“It will make a real difference for families across Victoria – saving them money and making their lives easier.”

Victoria’s major energy retailers - AGL, Energy Australia and Origin Energy - will fund the rebates, which are hoped to go some way towards offsetting the price increases scheduled by the companies for 2018.

Origin Energy and Energy Australia both revealed increases of around 15% to power charges for 2018 on their respective default plans, while AGL indicated that it’s average standing offer would rise by roughly 10% on average.

RELATED: January energy price changes in Victoria: what changed and why 

So which Victorians are likely to save with the new rebates?

Concession holders

Government concession card holders on standing offers are likely to be the biggest winners under the new scheme, with the rebates expected to slash between $254 - $720 off power bills each year.

Non-concession holders

Victorians without concession cards on standing offers and some expired market offers could also see a reduction in their bills - the government estimating savings of between $250 and $440.

Victorians with other energy retailers

While the rebates will only have an impact on the bills of Victorian households signed up to an energy plan with one of the major providers, the State Government encouraged all energy providers in Victoria to follow the lead of AGL, Energy Australia and Origin in cutting costs for their customers.

RELATED: Power down: how to cut back on your energy usage these school holidays

If you’re not eligible for a rebate but still want to slash your energy bill in 2018, another great way to save is by comparing providers and making the switch to a better value deal.

The Mozo Energy Cost Cruncher makes finding a great value energy plan in your own area a piece of cake - simply plug in your postcode, the size of your household and your rough energy usage and grab yourself a better deal today.

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Tom Watson
Tom Watson
Finance journalist

Tom Watson is a financial journalist at Mozo, specialising in fintech, property and business banking. Whether it’s reporting on banking trends or uncovering the latest product innovations, Tom’s mission is to keep our readers up to date with breaking Australian financial news. His work is often sourced in the media and across social media channels. Tom has a degree in Journalism from the University of Technology, Sydney.