[NSW, VIC] $200 Account Credit (as Installments) When Signing for Both Electricity / Gas with Covau Energy (New Customers)


These guys are currently offering a $100 account credit for each energy type so potential for $200. The rates aren't the best out there but certainly reasonable & worth putting in the rotation if you switch energy providers regularly to maximize sign up offers.
There is also a referral program but no benefit for referee only referrer who gets $50 so if you wanna help someone out try to find a code (there doesn't seem to be any here as yet) I am still within the 10 day cooling off period so I don't have a referral code yet.
Hope this is useful for a few of you, Happy OzBargaining :)

  • T&C: This offer is only valid to NSW and VIC customers. Eligible customers will receive $200 upfront credit when you sign both electricity and gas with CovaU ($100 for each utility). Each $100 credit will be applied in two separate installments; the first $50 credit will be applied on your first invoice, and the remaining $50 will be applied on the invoice after 6 months. The offer is not conjunction with any other offer, all rights reserved by CovaU Pty Ltd.

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  • Electricity charges - Single Rate (All year) Tariff (incl. GST)
    Daily supply charge 132.00 c/day
    Peak consumption
    All consumption 40.25c/kWh

    WOW That's utterly shithouse.

  • I agree wow! My area wasnt anywhere near that bad but there's a pretty big discount. I think it was 20% plus 4% for direct debit which you can use a rechargeable prepaid card for. I'll only be with them for a couple of billing cycles but I just moved over gas as I've still got a few months credit with my current electricity provider

  • so is it a good deal or bad? This is one area when I keep my Ozbargain badge on the side.

  • My rate is : kWh x $0.209000 and based on Manny quote and my usage I would give the $200 bonus back after 3 mths . Yeah I know its only $100 for Electricity just comparing .

  • Guys be careful. Discount rate means bugger all check the applicable rate after discount. Use the government website to check And compare best rates for your area.
    For electricity Nectr has very good rates and I am quite happy with them since I joined them last July. Much better than energy Australia that was offering me 29% discount and was still heaps more expensive than nectr.

  • Yeah guys if you don't wanna move away from these guys after 1-2 billing cycles then it's probably not a good deal and if your bills are pretty big also probably not a good deal. But if you aren't a big user and you don't mind spending the time to switch to the next offer in a couple months this can work out pretty good for you.
    Do the math. Glowbird energy is pretty competitive otherwise I'm not sure what their current sign up offer is but just based on rates alone they'll usually be the top if not top few certainly in Victoria

  • Holy crap $1.59 supply charge and $0.43 -30% usage only discount…..yeh I'm going to downvote for the sake of bringing attention to the absolutely potentially terrible rates.

    Edit: that was their "smart saver" plan on ausnet. Their "standard offer" rate is much better and closer to competition so maybe ok if u switch for a couple of months like ops comment above. Just don't get suckered in to "discounts" from any company and try to find the best price AFTER discount is applied.

    I don't want to discourage people like OP posting deals, but I really want to warn people.

  • Mojo in Sydney Ausgrid areas is 17 c/kwh fix rate. They also give $50 credit

  • I just got $135 cashback via CR energy compare for switching. They've got deals for different energy providers.
    I switched to simply energy and the cashback was approved around the first bill.

  • +1 vote

    Wow. They are giving 30% discount on usage after increasing the usage charge per kWh by 100% (comparing to what I am paying now).

    To all those who are asking if this is a good deal: you need to check the rates that you are paying and calculate the rates that these guys are offering after discount.

    IMHO, Cashrewards or ShopBack (can't remember which one) offer of Cashback on simply energy is much better offer as simply energy's rates are quite competitive.

    Otherwise check Tango energy rates if you want a no frills setup and do not want to worry about discount calculations. Just low fixed rates for a year (no increases for a year). If you are in victoria, their gas rates are also 1 of the lowest I have seen.

  • Off peak 16.51 c/kWh
    Peak 25.58 c/kWh
    Dedicated Circuit 16.26 c/kWh

    Daily charge 93.16
    GST inclusive ~
    With Powershop in Victoria

    Not sure if anyone got lower ?