KEY POINTS
- Energy bill credits are a one-off or ongoing conditional discount that’s applied to your energy bill by your energy provider.
- To check if your plan includes a bill credit, you can check your plan’s description on your retailer’s website, the ‘Special Offers’ section in its energy fact sheet or under ‘Credits’ on your energy bill.
- Be mindful that the value of your plan’s bill credits could be hiding higher base usage and supply rates, possibly negating any savings.
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What is an energy bill credit?
An energy bill credit is a one-off or ongoing discount that’s applied to your energy bill by your energy provider. Bill credits are one of many discount types that energy providers may include on market offers to encourage new sign-ups.
Like a conditional discount, customers may need to satisfy certain conditions to be eligible for the credit, such as:
- Pay on time discount: A discount for customers who pay their energy bills before their due dates.
- Direct debit discount: A discount for customers paying for their power bills with an automatic payment from their bank account, debit or credit card facility.
- Sign-up deal for new customers: A bill credit for new customers who switch or sign up for a new energy plan.
- Refer a friend credit: A bill credit for every friend you refer to your current provider. For you to be eligible for the credit, the referent must sign up for an energy plan.
It’s important to read the description of your energy plan carefully to ensure you’re entitled to a credit on your power bill, and to make sure you meet all eligibility conditions.
Keep in mind that a bill credit could be hiding increased usage and supply charges, meaning the base rates you pay for electricity may be higher than the advertised value of the discount.
What is an anniversary bill credit?
An anniversary credit is a type of bill credit that rewards customers remaining on a plan for the nominated benefit period (for example, 12 months) despite being free to leave at any time.
These credits generally aren’t offered on plans where customers are locked in, so they operate as an incentive for customers to remain loyal to their provider.
How do I know if my energy plan includes a bill credit?
If you’re shopping around for a new energy plan, a retailer will typically display any bill credit discounts in the plans’ descriptions.
You can also find details in the plan’s energy price fact sheet, usually under the ‘Special Offers’ section.
If a bill credit applies to your existing plan, you should see it listed on your latest energy bill under ‘Credits’ in the ‘New charges and credits’ section.
Below is an example bill from AGL highlighting where a bill credit is located:
Keep in mind that if you haven’t switched energy plans for more than 12 months, your previous plan has most likely expired, with your provider rolling you onto its standing offer.
In this situation, your plan will not have any conditional discounts attached, including bill credits.
Compare electricity plans
Shopping around for the right energy plan for you can be a stressful process. That’s why our comparison table below conveniently showcases some of the cheapest and best energy deals in each state.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
What about Government energy bill credits and rebates?
If you’ve received an energy bill credit, energy rebate or relief payment from the state or Federal Government, this may also appear on your bill as a credit.
While rebates are funded by the Federal or state governments, they are applied to your billing account by your electricity or gas provider, so you’ll usually see them listed on your bill under the ‘Credits’ or ‘New charges and credits’ sections.
If you’re living in an embedded electricity network, your network operator will typically organise the bill credit for you or your network’s provider will apply the credit to your bill automatically.
For more information, you can visit Canstar Blue’s guide to energy bill relief.
Should I look for a plan with electricity bill credits?
At first glance, it’s difficult to tell if bill credits will provide more savings than other forms of discounts.
However, it is safe to say that bill credits and discounts aren’t the only features of an energy plan worth looking into — you’ll also need to check a plan’s usage and supply rates before making a decision.
To ensure you’re getting a great deal, it’s best to compare prices and offers from a range of different energy providers.
If it’s time to say goodbye to your current plan or you’re curious to know what else is out there, jump onto our comparison tool, where you can compare products side by side at zero cost.
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