[VIC] Get $50 Bill Credit When You Use The Victorian Energy Compare Website to Compare Provider Offers (1 Per Household)

6720

The Victorian Government has announced today that from July 1 to December 31 this year, if you use the Victorian Energy Compare website to see if there are better energy deals available for you, the Government will give you $50, even if you don’t end up switching to a new provider. It’s essentially a $50 payment to every household in Victoria (with a limit of 1 payment per household) by filling out a form which takes a few minutes. (Which is why I have not marked it as a freebie).

Government Press Release

Related Stores

switchon.vic.gov.au
switchon.vic.gov.au

Comments

  •  

    Great find. Is there a way of automatically reposting closer to July 1. Cheers.

  • +1 vote

    Used this many times. Now they introduce this.

    • +1 vote

      Just use it again?
      You don't have to actually switch to get the $50, just a comparison is enough

      •  

        Sure, as soon as there’s another massive price increase, as occurs twice a year.

        •  

          I was thinking it might actually spur a little extra competition from the providers at that time; they know that there will be a pile of people comparing, so some might actually compete on price.

          I've used it in the past and seem to have got an insanely good deal, but I'll definitely check again to see if I can do better :D

        •  

          Vic price rises occur only once a year - Jan 1.

  • +8 votes

    Preparing for the elections later this year, I suppose. But I'm not complaining.

    • +4 votes

      I'm complaining, just wasting taxpayer money, it's be better not to have collected in the first place or to put better oversight on the power companies and their underhanded tactics.

      For every dollar that is given back atleast an equal amount is wasted in the beauracracy that is used up in designing the package and dispersing this money.
      Pretty soon you'll listen to frauds in this scheme just like every other government cash handout.

      •  

        You're losing your mind over this when the government has wasted billions on failed projects. Who cares. This is the least of your government complaining problems.

      • +11 votes

        It's not a deal when it is a waste of Victorians money. What effect is this nonsense going to have on the long term pain households have in paying their bills? People easily jump to free money but it's not free money it is money not going into our schools, hospitals or roads.

        • +11 votes

          If it saves households that use it an average of $50 pa, then it obviously does save householders money overall. More than that, given the advance notice, it pushes electricity providers to have deals from 1st July to capture all those people who will be using it to get the free money - putting an overall downwards pressure on prices.

          Sure it's political game playing on the lead up to the election, same as the 'look out look out, the Sudanese are about' that the libs went in for around the new year. As such it's a hell of a lot more positive than the actions of the lobster mobster.

        • +1 vote

          @sane:

          Yawns. The Apex gang is made up of caucasians (if you insist) and the misuse of $380,000 by the ALP at the last state election is acceptable because they have now repaid it.

          A saving of what sort? It is like the fools running into Big W closing down sale to save a lousy 20% on junk (then wasting an hour to be served) when they could have used the 10% voucher from last week. Do people really factor in their time wasted in some of these deals?

        •  

          The aim is to increase competition, which may lead to lower bills. Even having this promotion starting on this date means retailers might come out with some more attractive deals on 1st July if they know tens or hundreds of thousands will be comparing deals using the site in July. And they can't just offer ridiculous pay-on-time discounts because the site accounts for those. It's may not work but it's also plausible that this will lead to Victorians saving more than $50m on their power bills in total.

        • +5 votes

          @dazweeja:

          The aim is to increase competition, which may lead to lower bills.

          What is wrong with you? How does having ten or twenty businesses duplicating the same function that one used to do lead to lower bills. Our bills went up immediately by 20% when they sold off energy retailing in Queensland and have continued to rise every year since.

        • +6 votes

          @sane:

          Save money? It's coming from our taxes. You never get anything for free from any Government…
          I'd rather that $50 go to better roads, education and public services.

        • +4 votes

          @Maz78:
          I'd rather have my $50 come back to me where I can decide how I want it to be used.
          If I don't claim it then I'll be adding to the funding everyone else that does, so if I claim it it'll be $50 less that can be wasted on (for example) consolations for roads that will never be built or that will but I'll have to pay to use

        • +2 votes

          @Maverick-au:

          I was taking about the potential impact of this particular policy on an already privatised system, not the benefits of privatisation, which I personally think are overstated.

        • +1 vote

          Losers in all the political parties promote competition as the solution for all the world's problems, but more competition just leads to higher prices: more greedy CEOs and shareholders taking our money, parellel bureaucracies need to be paid and are more inefficient than a single payer system.

          That is the reason healthcare costs are so high in the US, more $ going to the useless pen pushers rather than the doctors and nurses who contribute so much to our societies.

        •  

          @linton:
          For every 50$ that comes back 100 is used up on the compliance and delivery costs. What a wasteful way of giving 50$

  • +16 votes

    Sounds like a waste of taxpayers money yet again.

    I can say for certain it’ll cost taxpayers way more than $50 per household who redeems this. Probably cost me $70 -$80 in taxes to claim $50 back.

    • +9 votes

      It'll probably save many complacent Victorians a lot of money in the long run if they do end up switching from companies that may have been rorting them for decades. Don't act as if you know the processes and costing behind implementing this type of policy, Mr Internet Man

      • +5 votes

        Why do those people need a reward to take them out of their complacency?

        • +3 votes

          Because it saves a lot of $$ for the Government both through reducing lost income for those that default on their payments and the Millions in relif grant it pays out. The Marginal Benefit of this out-ways the Marginal Cost of the payout

        • +3 votes

          @ahly92:

          Just remember, if this such great policy why start it in 70 days time? Why not today? Or maybe coz the election isn’t on just right yet? But will be in a few months.

          So obvious

        • +1 vote

          @cloudy:

          Why not today?

          No denying they've clearly thought about the election here.

          All the same, this is an announcement of a measure in the next budget (which is yet to be released). A few months implementation time for the bureaucracy to prepare, and a hold-off until the next financial year for the accountants, isn't uncommon for things like this.

        •  

          @tplen1:

          No doubt, hence why this is a waste, all those accountants, IT, legals involved taking wages and fees just to return cash that I have paid in taxes back towards me, lol. All this frictional cost is invisible to many, but not to me.

      •  

        if someone doesn't switch power providers to the lowest cost already why do you think a minor token sum of $50 will induce someone to act now?

        The savings to moving providers on average are in the hundreds for most households.

        Please mate, use some common sense.

    • +6 votes

      According to all the positive votes they all must think the money comes from the ALP money fairy.

      It can be said that such programs such as the VEU LED upgrade will save Victorians real money continuously but this $50 election vote is just garbage.

      • +4 votes

        Don't forget your mates in the liberal party are still giving BHP, Rio & Fortescue the diesel fuel rebate. Hundreds of millions of taxpayer money goes to 3 extremely profitable companies

        • +1 vote

          Do unions pay taxes?

        •  

          for profit unions now huh, we've become so American its sad

        •  

          They get a Diesel rebate just like any farmer gets it for using their own roads. The diesel excise is meant to be used to upkeep the roads but if you don't use them for specific vehicles why should you pay it?

    •  

      But if you don't claim it you'll be out $70-$80, rather than $201!-$30 if you do.

      • +1 vote

        ofcourse i intend to claim :)

        i just hate programs like this.

        Next it'll be $100 for gas, and then raise taxes $150 to fund the program

  •  

    do they do all suppliers

  •  

    How do they know you really live at the address you say?

    •  

      They say in news articles that you will need to provide identification, but how they will implement that, we don’t know.

      •  

        Maybe the cheque will be only sent to your home address or you have to go to an office with id to collect it (if your home address can't receive mail)

  • +13 votes

    Instead of silly gimmicks like this, they need to reform how power plans are advertised so they are more transparent.

    These 40% off pay on time deals are NOT actually discounts, but are late fees. (Pay your bill one day late and cop a ~40% fee on your bill).

    If any other industry did this, there would be outrage.

  • +3 votes

    Maybe they should make a website that compares their rates with south australians

  • +3 votes

    So this is where my tax is going.. Great

  • +2 votes

    Can we please stop with this bashing on an issue some have no economic knowledge on!? For the observer this might seem as a waste of tax money. However, in fact this makes perfect Microeconomic sense.

    It is obviously target at those in the lower income brackets and those currently finding it hard to pay their bills.

    Here are some data from 2016-17 Energy report:

    • Around 80,000 customers participated in hardship programs– the most participants in hardship programs since we started collecting data.
    • We also estimate that around 45,000 new customers entered hardship programs in 2016-17 – a 14 per cent increase compared to the previous year and a 63 per cent increase compared to 2013-14.
    • 26,323 customers were excluded from hardship programs. Customers excluded grew by 46 percent compared to the previous year.
    • While the number of customers entering retailers’ hardship programs continues to grow, more customers are also failing these programs.
    • Overall, the number of customers who were on a hardship program who were subsequently disconnected almost doubled in the last year.
    • The State Government paid out 15 million dollars in relief grants last year and this is expected to increase further.

    Furthermore, One needs to understand the significant loss to the Government when those customers default on their payments or delay it through payment plan. It is not the Providers that bare the cost but the distributes who are owned by the Government and thus lost Income.

    The Marginal Benefit of this initiative clearly out ways the Marginal Cost of the cash payout. It is an Incentive to get people who are currently finding it difficult and prevent those who are likely to fall into such debts.

    • +1 vote

      No one is denying that there are many people out there struggling to pay their power bills, but this gimmick does little to solve the root cause of the high power costs and complex price structures. Simplify the way prices are advertised and structured will at least help people determine if they are on a good plan without needing to go to this website.

      I also hear there are a lot of people struggling to pay their private health insurance, home loan, car insurance etc… should we all get $50 to check if we are on a good deal for all these services too?

      • +1 vote

        The difference between the examples you threw out and here is that a large proportion of power generation is state owned (~70%) and therefore any defaults by customers or delay directly affects State Income. So therefore there is an incentive put forward for consumers. Also home loans, car insurance, private health insurance are NOT necessities.

        As for your 1st statement thats true but you have to take into consideration that the retail market is private it wont be as clear cut as some would make it out to be.

    •  

      if someone doesn't switch power providers to the lowest cost already why do you think a minor token sum of $50 will induce someone to act now?
      The savings to moving providers on average are in the hundreds for most households.

    •  

      excellent points @ahly92. This is a good initiative from the Victorian State Government to help hard-working Victorians save some money with the ever-increasing power bills! Looking forward to saving some big bucks with my power bills on 1 July 2018.

    • +1 vote

      Totally agree. But it's expected - no matter what the government does there will always be harsh backlash without consideration of what they were trying to achieve. Different demographics, different opinions.

  • +3 votes

    Not the onion:
    Emboldened after getting away scot free from stealing $388,000 Daniel Andrews takes the next logical step and spends $50,000,000 buying votes.

  • +4 votes

    Socialist morons. Labor are like children with money.

    • +1 vote

      Governments going to waste money, its what they do. At least labor gives it back to the people. If this would liberal it would go straight to lining the pocket of some political ally, while simultaneously screwing over everyone on less than a 7 figure income.

  • +2 votes

    This is Daniel Andrews trying to bribe the electorate in an election year.

    They should use the $50 million (our money) towards making sure we have a reliable and cheap electricity supply, not bribes.

    Disgraceful!

    •  

      That's brilliant. You liked the post above you which insults the alp as being "socialist morons"
      Then suggest in your own post that they should take social ownership of the power..

      • -1 vote

        Rubbish, twist my words. I never said that, I don't believe governments should build a power station. That is as you say, socialist.

        Government can reduce royalties and taxes, speed up planning, open up gas exploration and reserves.

        It's the private industry that builds the power stations.

      •  

        Oh my god I never knew you could see votes… ahhhh shit so many people know I negged them

  •  

    I compared gas only as I am locked in to a particular electricity retailer because of my location in an over 50s village. However, I get 37.5% off electricity usage and about 10% on the standing charge.

    I am paying 2.2 cents / MJ (before GST) on gas to Origin. I noticed that the gas retailers I looked at on this compare web site are charging much more and that's before I even get a pay on time discount of 13% on usage. I could get more but I insist on a paper bill. I don't have any group buying (that is coming soon at 18% on the whole bill) so there is a bit of scope to reduce your bill. I'll be happy to take the $50.

  • +1 vote

    If everyboby gets to take advantage of discounted electricity who do you think will pay for this? Definitely not the power suppliers or sellers. It will be those who have been smart enough to already have the best discounts. Our current cost advantage will be lost.

  •  

    With over 2.2M households in VIC, might need another $50M if successful.
    I guess small business can gain from the household $50 - & access to independent co$ting!!!

    LOL - State following Capitali$m bribery ;-)
    Was MOM offering $50/$100 sign-up freebies :-)

    IMHO a better result than paying middle-man commissions - or wa$ting time on 'FALSE' retail offers?
    Might this prove cost-effective?
    Will be interesting to see.

  • Top