Earn signup bonuses by switching energy providers in Australia
Australian energy providers periodically offer new-customer incentives (e.g. $200 bill credit) to attract switchers via comparison aggregators like Econnex. By switching when an attractive offer appears and then reassessing after the lock-in period, households can capture recurring credits. Note that some providers conduct hard credit checks, which matters if you are also churning credit cards or planning a loan.
Before you start
- Australian residential electricity or gas customer
- Located in a region with competing energy retailers (most of eastern Australia)
Steps
- 1Browse energy comparison aggregators such as Econnex for new-customer incentives
Comparison sites like Econnex list competing energy providers and highlight signup incentives such as a $200 bill credit or promotional plans (e.g. 'three for free') for new customers. Offers close at specific deadlines so act before the cut-off.
- 2Check whether the provider conducts a hard or soft credit check before applying
Some energy providers on Econnex — including OVO Energy — perform a hard credit check during sign-up. A hard check is recorded on your credit file and can reduce your score. If you are also churning bank accounts or credit cards, or planning a mortgage/car loan application soon, factor this cost into the decision.
- 3Switch to the provider with the best incentive and meet the minimum terms to receive it
Complete the sign-up via the comparison site or directly. Read the terms for the incentive — credits typically require you to remain connected for a minimum period (e.g. 90 days) before the credit is applied. Notify your current provider of the switch.
- 4After the incentive period and any lock-in ends, compare rates again
Once the signup credit has been paid out and any minimum period has passed, revisit comparison sites. If another provider is offering a better rate or new-customer incentive, switch again. OzBargain forum members regularly post new energy deal alerts.
Risks
- Hard credit checks from energy providers will appear on your credit file — especially relevant if you are also credit-card churning or applying for a loan
- Incentives typically require a minimum connection period before being paid out; exiting early forfeits the credit
- After the promotional period, rates may revert to something less competitive than your previous provider
- Offer windows are time-limited; available deals change regularly