Residents across flood affected areas of Victoria have breathed a collective sigh of relief this morning as clear skies finally make their way across the state.

Acting premier James Merlino today said financial assistance would be available to eligible Victorians impacted by floods and storm damage.

"We have got this for residential homes, getting people back on their feet, back in their homes as quickly as possible," he said.

Financial aid of up to $42,250 will be available to those who qualify for the payment.

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Emergency Management Commissioner Andrew Crisp said authorities had visited hundreds of properties following the severe weather.

"My latest advice is that those impact assessment teams have visited almost 600 properties, and there are about 140 but have been impacted in one way or another," he said.

:We will continue to do that impact assessment work, working closely with local government to make sure we marry up that information."

While there was some rainfall in the early hours of today, most of the day is expected to remain dry after a horror few days of weather for parts of Victoria.

A number of flood warnings have been downgraded overnight, but three remain in place at the Thompson, Yarra and the Latrobe Rivers.

Yesterday, Victoria's largest power plant was evacuated as the the situation continued to worsen, prompting fears that the state's power supply might be compromised.

Yallourn Power Station, east of Trafalgar, is responsible for roughly a third of the state's electricity and three generators were taken offline yesterday after heavy rain caused flooding and landslides.

Unions and workers at the plant estimated there was just three days worth of reserves.

"The company was very concerned that if they had water ingress into their mine, they may damage equipment and endanger personnel," Mark Richards from the CFMEU said.

"The long-term supply issues are what they're trying to maintain, and as soon as the water stops flooding in, it'll be a case of firing up the plant and getting the four units back up and running."

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Since then, the Victorian government has attempted alleviate concerns, assuring residents that there is enough energy to maintain the state's winter demand.

Authorities have continued to warn people to stay clear of floodwaters and practice extreme caution at affected regions, urging drivers especially to remain alert, as just 15cm of water is enough to sweep vehicles of roads.

While residents make the most of the dry day, more rain is expected to fall later in the week, raising new fears of more flooding.

Tens of thousands remain still without power, as SES and energy companies struggle to keep up with demand.