$250 cost-of-living payment for these Aussies

Aussies who compare energy providers will receive a one-off $250 payment, as part of a new NSW election promise.

Young people walking through city in Australia. Australian money notes.
NSW residents will get a $250 payment for comparing energy providers, as part of a new election promise. (Source: Getty)

NSW households will receive a $250 cost-of-living payment for comparing energy providers, if the Coalition is re-elected in March.

Premier Dominic Perrottet said households would be able to get the payment by comparing energy plans on the Service NSW website and the payment could then be put towards energy bills.

According to the government, households could save up to $400 by switching energy plans to a lower deal.

“We know households are feeling the pinch right now and that’s why we will provide immediate bill relief, as well as help families get a better energy deal,” Perrottet said.

“This is $250 in short-term energy savings whilst, at the same time, ensuring NSW households can slash their bills into the future.”

The one-off payment is similar to the Victorian government’s Power Saving Bonus program, which also gave a $250 payment to households that compared energy deals.

How can I get the $250 payment?

If the Coalition is re-elected in March, all NSW households will be eligible for the $250 rebate. This includes existing rebate recipients.

Households will need to visit the comparison tool provided by Service NSW and will be eligible for the payment even if they don’t switch plans.

The program is set to run from July 1 to December 31, 2023. Aussies who compare providers now will still be eligible for the payment in July.

Meanwhile, the federal government has promised an energy-relief package for low- and middle-income households and small businesses. The scheme is expected to be included in the May federal budget and give eligible Aussies a credit on their power bills.

The relief will be given to Aussies receiving income support, such as those on JobSeeker, pensioners and Commonwealth Seniors Health Card holders, Family Tax Benefit A and B recipients and eligible small business owners. Amounts and details will vary between states and territories.

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