Different Types Of Discounts
Retailers add many sweeteners to their energy plans to get you to sign up. What kinds of energy discounts are out there, and how can you decide which one is best?
One of the most common discounts is the “pay on time” or “direct debit” discount – if you pay your bill on (or before) a certain date, your retailer will discount a portion of it. This may apply to:
Make sure you read the fine print – big numbers offering discounts may only be on a small percentage of the bill.
Other common offers are introductory energy rates and instant credit when you sign up. Introductory rates, much like credit card rates, will expire at the full rate – which can be higher than your original retailer’s rates! In a large household, a $50 or $100 credit will vanish quickly.
Seniors over the age of 65 who hold a Seniors Card, Centrelink Health Care Card, Veterans’ Affairs Card or similar may be eligible for discounts administered by their state government. Concessions may be one-off yearly concessions, off-peak/timed concessions, or specific gas rebates. Consult your state government for more information.
The NSW State Government offers low-income families receiving Federal Family Tax Benefit A or B a concession on their energy bills. Eligible families can receive a concession of up to $150 a year. If you qualify for the Low Income Household Rebate, you can receive a combined total of $250 for the year (capped at that rate.) On-supplied (i.e., people who are billed by owners of a building or residence, not directly by the retailers) can gain a one-off yearly rebate of $165.