[VIC, SA, NSW, QLD] "Warm Welcome" Electricity Plan: Receive $200 Credit on First Bill @ Momentum Energy

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$200 Sign-up credit for new customers. Better than some of the others on offer. Good for churners who have recently done AGL and Origin.

(Referral solicitation removed — Mod)

$50 for gas signup as well

So in total up to $300 signup credit

For new customers to Momentum only.

t&c's:
Eligibility criteria To be eligible for this plan: 1. the Supply Address must be in Victoria, South Australia, New South Wales or the Energex distribution zone of Queensland; and 2. the Market Contract must be your first electricity Market Contract with us for the Supply Address (New Contract), 3. you must a) be a residential customer (which means a customer who purchases energy principally for personal, household or domestic use); b) sign up directly with us and not through a thirdparty; c) pay your bills in full by direct debit for the life of the plan; and d) receive your bills, notices and other communications Electronically.

Referral Links

Referral: random (75)

After referee initiates the switch, referrer and referee each get $50 credit on their accounts.

Referee who signs up via telephone: quote the referral code to customer service during your sign-up telephone call.

Related Stores

Momentum Energy
Momentum Energy

Comments

  • +26

    Shame you force people imto a phone call just to see fit rates. Pass just because of that

    • -3

      Not sure what your issue is I found these rates for my location on the website (which may not be the same for you - Ausgrid)

      Daily charge (¢/day)142.45

      Peak rate (¢/kWh)25.7400
      Off Peak rate (¢/kWh)25.7400
      Shoulder rate25.7400

      Solar Feed In Tariff (¢/kWh)# 7.00

      With the proviso that these are chnaging on July 1.

      You maybe doing something different in your sign up, or might be affected by your wholesale supplier. (eg Ausgrid, Endeavour etc)

      In my case having just signed up to Origin for the $200 its too early to switch again.

      • +8

        I cannot get my solar rates without adding an address and I can't add an address without getting a pop-up that said let's chat and arrange a callback

        In fact if I try to enter my address that's the first thing that comes up after I click on my address.

        Yes i can see other rates. And if I can see the other rates why am I forced into a phone call just to add my address?

        Agaun its a pass

      • +23

        Jesus! That daily charge rate!!

        • +1

          I checked my place in Adelaide

          Daily charge (¢/day) 169.29
          Peak rate (c/day) 37.95

        • It's on the cheaper side for Essential Energy. What's yours?

          • +1

            @Guybrush57: My rates:

            Amount
            (incl. GST)

            Supply Charge
            99.00000¢/day

            Usage
            21.78000¢/kWh

            Solar FiT
            7.00000¢/kWh

            • +1

              @mrvaluepack: You've got life good son. Essential Energy is at least 50% more on both your supply and usage rates.

        • It shows even higher for me. However, given the $200 (let's say min. $50, coz others may offer $150), it may worth to go through some hassle. e.g. @96c/day, 28c/kWh vs. @160c/day, 26c/kWh; (600kWh $197:$204) (700kWh $225:$230) (800kWh $253:$256) (1000kWh $309:$308) YMMV

        • i know i checked mine in bankstown sydney and it’s $1.50 i pay 72c with agl

      • +9

        $1.42 daily supply rate that is criminal… Holy sht

      • Are you on TOU? I'm sure Ausgrid set any change in plan must go on to TOU.
        That daily tho… that's 2kwh worth.

    • not sure what u referring too. signed up online with all rates visible and no problems at all.
      Rates were higher for me but end of day free credit will run me 2 months and will churn then

  • Anyone use them? What are they like?

    • +3

      I’m with them at the moment, no issues. But got an email recently, they are going to drop solar rebates.

      • -1

        looks like all of them are going to drop FIT 1/7

  • +13

    Why don't providers post their post-July 1 rates on their websites? They surely have this information weeks in advance. It's incredibly frustrating not being able to proactively forecast how long a credit will last.

    A $200 credit could last two months or two weeks, depending on the rate offered.

    I can't see the control load 1 rate. I can get a postcode estimate, but it only displays daily and general use rates, unless the daily rate includes both supply and CL1 charges.

    • change it your address search by selecting dropdown. you will be able to find rates than listed in each plan type.

      • I am in the same situation as @asifpau they require a phone call consultation for my rates to display, so I've just put the postcode option to get a generalised display of rates.

    • Agree almost seems like they avoid this.. just don't get locked in now with unknown rates coming up.

    • +1

      Most providers will show the new rates notice while signing up 10 business days before the rates go live. So expect to be able to see it by the 17th of June

    • +1

      Why don't providers post their post-July 1 rates on their websites? They surely have this information weeks in advance. It's incredibly frustrating not being able to proactively forecast how long a credit will last.

      You're so close to getting it

    • lumo has fixed rates until sep 2025 with no exit fee.

      maybe an opportunity to get in before price rise.

      • +3

        Why would the price rise? Wholesale prices have decreased.

        • Let's see

          • +1

            @HitlersDad: I got notification from AGL the other day that my anytime tariff is going down by 0.7c, to 41.5c.

  • +6

    $1.969 service charge a day on their cheapest plan… hard pass!

  • +1

    Thanks just churned from RACV Arcline after getting their bonus last month

    • What other providers have you done this with? I’m with AGL and plan to eventually settle on ovo with their free three hours window

      • +1

        To be honest I've kind of lost track. I'm halfway waiting to churn for gas and can't even remember who I'm with and churning to for that!

        Electricity is much easier as the churn happens within a couple business days.

        I think I went from Ovo to AGL to RACV Arcline to Momentum for electricity.

        I'll most likely churn back to Ovo as they had pretty good rates and an ongoing referral bonus or something that gave me $10 off each month

  • +2

    $1.50 daily supply for me, pass

  • +2

    The daily rate is high, but I've done the numbers and this works out a lot cheaper for me overall mostly because it has lower shoulder rates and I have high usage.
    I've been waiting to sign up for a while now, but until they advertise what their rates from July are, I'm not going to waste my time.

  • +2

    Not phoning in to get a quote. I have a smart meter at my address theres no reason for me to call

  • Any idea about solar?

  • +3

    182.27c daily supply charge

    Feck nope!

  • What a rip off daily changes 🤪

  • Tried to sign up, said I failed credit check. Anyone else getting the same issue? My credit score is definitely not an issue.

    • +2

      Nope I've been churning every one or two months so far

      • Yes same issue here, haven’t had any troubles. Changed a few times this year

  • Based on my usage in May for 21 days momentum is 55c more expensive than RACV Arcline. I'm churning for another month or two of free electricity

  • does this count for second bill too? My electricity is $80~ a month for a 2 person, 2 gaming pc, homelab

    • It does with most other energy retailers. The credit rolls over.

  • +2

    Do will still get the federal government $300 rebate even if we keep swapping electricity companies? When is the first installment?

    • Also would like to know

  • +1

    Their new customer definition is very wide. Not sure if this is Norm. If you have been with them anytime in past, you are not new customer.

    • It said at the same supply address, so if you've moved I guess it works?

    • What if someone else at your home signs up?

  • Unrelated to momentum specifically but has anyone else had credit issues from swapping often? I had been swapping gas/electricity every 2 months all year then last month my credit score dropped 200 points (no other credit enquiries, never missed a payment on anything) Pretty hesitant to keep moving around now

    • -3

      I wouldn't have thought they are related?

    • Haven't checked but presume my score will tank. But not worried, don't need to borrow money with all the money saved from the churns. Can pay for a house and car in CASH!!

  • While initially tempting, eh. It will be about $1/day more expensive than my current plan, and my current plan isn't available with my current retailer anymore so I wouldn't be able to swap back to cheaper rates.

    • +5

      But $250>$30

      And just churn again after the bonus is used up.

      • +1

        Yeah fair call, justifies me spending $250 on new toys 😝

  • This is the closest a plan has come to beating AGL or Powershop for us with an EV in SA. Close, but still not quite there.

  • +1

    I had to contact them for rates (I emailed) and they said they didn't supply to my (NSW) address. This is likely why some others are getting this message.

  • In QLD, the rates are ridiculous! Many providers are hiking the rate 1/7 so the token signup credit must be taken into consideration. AGL are doing $200 credit with a better rate if in QLD.

  • How does churning work, if Im in the middle of a period with my current provider, do they send a bill for a partial period then the new company takes over

    • In Vic yes, typically when you churn electricity with a smart meter you'll get a final bill upto the changeover date which is typically with 2 or 3 business days of signing up

      • Ok cool thanks for confirming

  • my daily rate is 1.50 but the electricity rates are low, 26% below reference price, will consider them if they offer this again in the future

  • What happens with the $75 government credit in July? Do we collect it from our old retailer or this one?

    • just keep an eye on it - I had changed during one of these and had to chase the old proider and they were reluctant to assist

  • Daily rate: $1.72. Highest I've ever seen.

  • -1

    Does any one know how long you need to churn away from AGL before you can churn back to AGL and be able to get the new customer credit?

    • +1

      AGL may exclude accounts from receiving more than one upfront credit per fuel in any 12-month period.
      Time to churn through providers Momentum, OVO, AGL, governement credits. Hopefully wont need to pay for power next 8 months

      • And sadly the fine print for Momentum is every more limiting: "the Market Contract must be your first electricity Market Contract with us for the Supply Address"

  • +1

    My welcome daily charge
    Daily charge (¢/day)163.57
    My current red energy 85c.

    So first 11kwh of solar fit is thrown out.

  • +1

    Similar crazy daily supply charge for my ausgrid area, but currentl $200 agl credit will be used up this month. Might be worth the churn just to get $ to cover though some winter months before churning somewhere else more suitable.

  • Saw this a few days ago while reviewing rates after my last Origin bill. Daily charge is high but we use a fair amount of power so the p/kwh rate offsets this substantially. Had been holding off while reviewing but just made the swap using one of the random referral codes above.

  • Is it normal that this company is asking for DD setup in the end? I prefer to pay the bill when it arrives.

    • Very common. Bill arrives and the money normally comes out a couple of weeks later on the bill's due date.

      • Do they charge fees for Direct Debit from credit card? I cant see anything on their T&Cs

  • Is there an end date for this?

  • my rates r 23c pk/W and 103c daily.. pretty competitive. inner Melbourne

  • +1

    By jumping from provider to provider taking advantage of the sign-on offers, I've yet to pay for electricity since October last year. My aim is to never pay for electricity.

    • What have been the best ones or simply the best offer at time?

      • Yeah, just whatever was best. Ideally you get $200 sign up offers.

  • +2

    If you've been with Momentum before you won't get the credit

    "the Market Contract must be your first electricity Market Contract with us for the Supply Address"

    • key word being at that 'address'

    • +1

      Ah bummer. I was with momentum like 3 years ago… thought I’d be in the clear. Apparently not. Anyone know how to cancel the churn?

      • You should call them and see what they say. If not, tell them you want to use your 10 day cooling off period which will cancel the transfer.

        Can you report back?

        • +2

          I called them and said I wanted to cancel if I dont meet the criteria of the welcome credit… she said she checked my account and I have been signed up to the welcome deal and will recieve the bonus on the first bill. I decided to stay with Momentum and hopefully the credit will be applied.

          • @camMMM: Good luck. I wouldn't risk it myself, until I hear of others having the credit actually applied on a bill, given the rates aren't great.

    • does it say how far back this goes? 1 year, 2 year, 10 years…?

      Is just say new contract, it's a new contract when you signup isn't it?

      Doesn't make it clear, if there is an time limit, as Alinta may is it very clear, they'll only pay the credit every 12 month, written on signup.

      • If you've had electricity from them at your property previously, you can't get the bonus at your current property.

        Seems pretty clear.

        • +1
          • @txb: They haven't been billed yet. I'd believe it when it shows up on their bill.

        • Old mate has no experience with bonus offers if he thinks T&C are pretty clear…

          • @Increase1: I always use bonus offers. The T&Cs on this offer are super clear. Whether Momentum chooses to enforce them is another matter.

            • @prhino:

              "you can't get the bonus at your current property."

              Whilst their terms may seem/be pretty/super clear, companies rarely stick strictly to their own terms. You gotta have the mentality to try them, rather than assume the worst…

              • @Increase1: Yeah, but if the rates suck then you just end up wasting money.

  • Remedial question - when switching providers, is it OK to transfer based on estimated read or best to transfer based on actual read.

    Am switching now and not sure if it's worth requesting actual read, especially if there is an expense involved in that.

  • FYI, just received this (NSW):

    “From 1 July 2024, your applicable solar feed-in tariff at the following address will decrease from 7 cents to 5 cents per kilowatt hour for all eligible solar you export.”

  • Would anyone already know if you can sign-up multiple addresses if they meet the criteria of new supply address but under the same name?

    Also caught this-
    In the t&c "The Welcome Credit is a one-off credit which will be applied to your first electricity bill (excluding a bill issued as a first and final bill)."

    So, the credit wont apply if you churn straight after your first bill. In essence, it applies to your first bill only when you stay on and receive a second bill (and onwards)

    • $200 credit should last most people two bill.cycles, so not too much of an issue

  • They mustn’t like people who churn electricity providers as I didn’t pass the credit check 😂

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