10000 Points with Red Energy

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Seems like there's a bunch of options too - 7 points per dollar or 2 points per dollar for bills paid on time (from memory the latter also has a financial discount for paying on time). Also provides an option for Gas as well (an additional 5k points, 15k in total for gas and electricity)
 
I would recommend checking what the $ per unit of energy are and comparing it to other plans. When I have checked other suppliers have been significantly cheaper and the savings outweigh the points gained.
 
lovetravellingoz said:
I would recommend checking what the $ per unit of energy are and comparing it to other plans. When I have checked other suppliers have been significantly cheaper and the savings outweigh the points gained.
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Haven't looked into it but being a Qantas offer it will surely not be competitive. Happy to be corrected if it improves on alintas 28% discount which can also be paid surcharge free on Amex explorer?
 
Stu Roughton said:
Haven't looked into it but being a Qantas offer it will surely not be competitive. Happy to be corrected if it improves on alintas 28% discount which can also be paid surcharge free on Amex explorer?
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I recommend looking at the cost/per unit of energy.

I have just swapped and my gas (Momentum) and electricity (Pacific Hydro) are now at two different suppliers to gain the best rate. Both only gave $50 to sign on, but the cost/ unit of energy was far cheaper than companies that offered big % off, points etc.

Big % discounts are basically a marketing ploy. You may get the biggest % off, but if your base rate is high you are still behind.
 
lovetravellingoz said:
Big % discounts are basically a marketing ploy. You may get the biggest % off, but if your base rate is high you are still behind.
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You can say that again. At our old house Red had the best overall deal as while they offered the smallest discount of 10%, their lower usage rates made up for that. Also their pay on time discount is on both usage and suply charges, unlike most other retailers.
 
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Stu Roughton said:
amen
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lovetravellingoz said:
I recommend looking at the cost/per unit of energy.

I have just swapped and my gas (Momentum) and electricity (Pacific Hydro) are now at two different suppliers to gain the best rate. Both only gave $50 to sign on, but the cost/ unit of energy was far cheaper than companies that offered big % off, points etc.

Big % discounts are basically a marketing ploy. You may get the biggest % off, but if your base rate is high you are still behind.
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I'm in qld and elec only. However I completely agree re % off compared to comparing units which I did when changing. When I can be bothered I will maybe take a peek at this red mob.
 
If you are an existing Red Energy user and link you get the points for total bill paid and they accept AMEX with no surcharge.

If you move to them and get the account number of a current Red Energy member you both get $50 Coles gift as well as bonus points and ongoing earning (supply and elect charge).

I agreed that discounts are mostly marketing spin best to look at the actual rate. My mother was with one of the big company due to their 25% discount which was still higher than standard Red rate before their payment discount but she kept saying that XX gives a big discount. Took a year to convince her that the base rate is not standard so discount by itself does equal cheaper when high base rate. Was driving me mad but she is now happier with lower bill.
 
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Signed up and got the 10k bonus points already.. now waiting for the 5k from Gas and then switching back to Powershop...
 
I signed up to red energy recently and the points came through very quickly after the transfer was completed.
 
I compared Red Energy to my current Lumo plan, and Red Energy was just the tiniest bit higher in their rates. This made it harder to figure out if I would be marginally ahead should I switch, given the additional Qantas points. Also, I couldn't find their equivalent rate for heating my hot water overnight.

So I've left the decision in abeyance, as it will take several hours of calculations and a call to Red Energy to figure this out.
Regards,
Renato
 
kapook said:
When you say` very quickly`? approx how long did it take and did you need to pay your bill first?
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For me the points took 2 working days after the cooling off period AND before paying my first bill (which I found surprising).
 
Just a thought. See below extract from offer. Sign up even if it is slightly higher. Wait till you get the points. Then just change providers if no contract exists. Up to 15,000 points without much effort.
  • No contract term for electricity
  • No contract term for gas
 
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