KEY POINTS
- Cashback offers may help customers save money, but it’s crucial to ensure that you are not signing up for a plan that costs you more in the long term.
- Currently, there are 12 existing cashback offers from 10 different retailers.
- Energy discounts can also come in the form of reward points and memberships.
Switching energy providers is something households are encouraged to do regularly to make sure they’re on the best deal available for them.
In fact, research from a recent ACCC report revealed that changing energy plans almost always guarantees a better deal — which means paying less and saving more.
The good news is that energy providers are all too keen to encourage you to switch, with many offering discounts, cashbacks or rewards when you sign up to their plans.
On this page:
What energy discounts are available?
Credit
Credit offers are the most popular when it comes to energy plans. They work by providing cashback or credit back to a customer.
As always, there are some conditions. The credit usually goes into the person’s electricity account — not directly to the person — and there is often some kind of minimum period required to stay with the provider.
A refer-a-friend offer also gives cashback or credit to an energy customer and the friend they have referred. The friend usually has to stay for a minimum period to qualify.
Are cashback deals worth switching energy providers for?
A credit might look great on your first electricity bill, but it’s important to make sure you’re not signing up for a plan that could hurt more in the long run.
When comparing energy prices, it can help to look at the estimated total cost of that plan and how the cashback would apply.
In the example below, while Plan A has the bigger cashback offer, it is more expensive in total. Plan B, however, is cheaper when the cashback is applied.
← Mobile/tablet users, scroll sideways to view full table →
| Current plan | Plan A | Plan B | |
|---|---|---|---|
| Price per year (estimated) | $1,430 | $1,511 | $1,477 |
| Cashback offer | $0 | -$75 | -$50 |
| Total (estimated) | $1,430 | $1,436 | $1,427 |
What cashback deals are available now?
← Mobile/tablet users, scroll sideways to view full table →
| Provider | State | Credit (max) | Type | Min. period | Eligible customers |
|---|---|---|---|---|---|
| 1ST Energy | TAS | $150 | Sign up | 12 months | New only |
| AGL | NSW, QLD, VIC | $225 | Sign up | 150 days | Senior new & moving |
| AGL | NSW, QLD, SA | $200 | Sign up | 150 days | New & moving |
| Alinta Energy | NSW | $50 | Sign up | First bill | New only |
| Arcline by RACV | VIC | $50 | Refer a friend | First bill | Existing + friend is new |
| CovaU | NSW, QLD, SA, TAS | $50 | Refer a friend | First bill | Existing + friend is new |
| Energy Locals | NSW, VIC, QLD, SA, TAS, ACT | $50 | Refer a friend | First bill | Existing + friend is new |
| Energy Locals | NSW, VIC, QLD | $100 | Sign up | 6 months | New only |
| ENGIE | NSW, VIC, QLD | $100 | Sign up | First bill | New only |
| Kogan Energy | NSW, VIC, QLD, SA | $100 | Sign up | First bill | New w/ Kogan FIRST |
| Momentum Energy | NSW, VIC, QLD, SA | $50 | Sign up | First bill | New only |
| Powershop | NSW, VIC, QLD, SA | $150 | Sign up | First bill | New only |
Note: credit offers and deals can and do change at the provider’s discretion. Eligibility may differ between state or plan.
What other deals or offers are there?
Beyond cashback offers, energy providers offer a variety of bonus points, deals, or memberships to new or loyal customers.
Reward points
There are currently a few plans that offer some kind of rewards points on sign up to an energy plan.
For example, Red Energy offers 10,000 Qantas points to new customers signing up to the Qantas Red Saver Plan, while Origin offers up to 10,000 Everyday Rewards when signing up to its Everyday Rewards Variable Plan.
However, there are a few Ts & Cs with these offers. For example, the Qantas points are only applied when you pay your first electricity bill in full.
Memberships
Some energy plans come with a free membership, such as Kogan Energy’s free 12-month membership to new customers (and for those who are already members upon sign up, a $100 credit).
Engie offers a 12-month myNRMA membership, while Red Energy provides customers on its Taronga Flex plan with a zoo pass.
Compare energy plans in your state
Discounts aren’t the only thing you should look out for. You can compare plans across each state in the table below.
Here are some sponsored 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 energy 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 and to see other products in our database that may be available. 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.
 |
|
9% Less than reference price |
$1,651 Price/year (estimated) |
Go to Site |
Here are some sponsored 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 and to see other products in our database that may be available. 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.
|
|
15% Less than VDO |
$1,260 Price/year (estimated) |
Go to Site |
Here are some sponsored deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from our 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 and to see other products in our database that may be available. 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.
|
|
10% Less than reference price |
$1,888 Price/year (estimated) |
Go to Site |
Here are some sponsored deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from our 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 4011kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. 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.
|
|
6% Less than reference price |
$2,036 Price/year (estimated) |
Go to Site |
Cashback offers are just one of many discounts that retailers offer to sweeten the deal. It pays to actively compare energy plans in your state or territory to find the best deal for you.
To get started comparing energy providers offering other types of discounts, follow the link below to Canstar Blue’s energy comparison tool.
Image Source: Andrii Medvediuk/Shutterstock.com
Share this article