Thousands of homes are without power as wild weather batters Victoria. State Emergency Services responded to hundreds of calls last night following a night of wild weather. 

More than 233,000 homes and businesses were left without power as the storm brought down trees and powerlines. 

There have been 48 rescues and almost 400 reports of building damage. 

Major flood warnings remain in place for a number of waterways including the Avon, Latrobe, Macalister, Thompson, and Goulburn rivers. 

The Bureau of Meteorology are expecting the threat from wind gusts and rain to ease by midday Thursday.