In my last article Power hacks to deal with rising costs, we covered some important ground around how to easily and sustainably care for Country in our awareness of power use. We also looked at a few money saving tips in the current climate of the energy market. Hopefully these were helpful and easy to implement as we head into the often-expensive colder months.

As we know that we need to be aware for how much energy we use in our homes, not only to take care of Country and the wonderful resources Country provides, but also to maintain financial security for ourselves and the ones we love in this increasingly difficult socio-economic climate.

How I plan to save $250 on my energy bills

Whilst it may seem lately that any news around energy costs is going to be negative, luckily for the Mob living in the often cold and damp South-East (Victoria), the government has decided to renew its Power Saving Bonus for all households. This bonus entails a once per round payment of $250 dollars to an energy account holder for your household, and is aimed at alleviating the types of financial stress that has come with a struggling energy market. However, this bonus is not automatic, nor are you necessarily going to be contacted with an application, it needs to be applied for, with the latest round of bonuses being rolled out from late March 2023.

Applying for the Power Saving Bonus takes around five to ten minutes and requires your household details and a relevant energy account.

Just this week I made sure to get my application in for it, and the peace of mind knowing that you’re going to save money in the future on your energy bills really did take a bit of the pressure off when I was doing my budget.

If you’re in another state or territory, you can look up rebates here.

The power of comparison

When I submitted my application, I was automatically sent to a page where I could compare energy providers.

I quickly found out that I wasn’t getting a deal nearly as good as I should be, with my energy provider rating about 12^th from the top in the most competitive providers on the market, with my average bill being nearly $80 more than some of the top options.

Looking at other providers through a comparison site can be worthwhile if you don’t have time to search around or maybe feels as if you don’t really know much about the market more broadly (I’m definitely in this category).

All in all, it was an easy way to get some financial peace of mind at a time that can be very stressful as a person just trying to get by. Combining and utilising this alongside sustainable and thoughtful energy usage is a deadly combo that could do a world of good.

As with every article on TomorrowMoney, this is not personal financial advice.