Power Company - Constant Switching

So I was with Powershop for years. And then heard about Flick, and they had a compelling sales pitch (prices are better) and a $75 bonus into your bank acct after 3 months. So I signed up and it's been good. I've got the $75 bonus and just saw Powershop has $150 credit for new sign ups (over 3 months, $50/mth) and Energy Online gives $100 off first month too. All 3 have no contracts.

Do you guys think it's worth the hassle of constantly changing between no contract power companies and getting their promotions then moving on, or potentially back to, another company?

Will they catch on and refuse to sign me back up as a customer?

Crazy or genius??

Poll Options

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  • It's potentially a good idea, if you can work it right. Also check the conditions, there may be a 1 year cool down on an address or something similar. I don't imagine they wouldn't sign you up again, but the promotions don't last forever.

  • Buyers Market (doesn't happen too often)

    Be The Bear

  • Do you have any further details on this $75 bonus? I switched from Powershop to Flick 3 weeks ago & don't recall that promotion.

    When I started with Powershop just over 12 months ago the unit price was around 25 cents though it gradually increased to around 33 cents - this is both during the winter so its an apple to apples comparison.

    As Flick's pricing is based on the market spot rate the unit price isn't never the same, though for the past 3 weeks I'm averaging 28 cents per unit which is saving me around $1 per day compared to Powershop.

    So far I'm pretty happy - especially now I don't need to worry about buying the Powershop unit packs, it just gets charged weekly to my credit card which is so much easier.

    In relation to your proposed idea of switching power companies to capitalise on the deals, you'll only be able to do this a few times as there is a finite amount of power providers & alot of them are owned by the same company. Definitely pays to read the fine print because the power companies won't be losing - I'm pretty sure Powershop have been gradually increasing there pricing because powerswitch said there was only a $100 annual saving from migrating from Powershop to Flick.

    FYI - If you're in Auckland city, the AECT dividend is coming out really soon & is expected to be around $345.

  • Flick is good but not $100/mth better so I jumped shipped to Energy Online with their $100 off first bill. No contract so I'll see what's out there next in a month. Figure it's worth a go!

  • PS. I'm in AECT and I'm pretty sure moving company doesn't matter for the dividend cheque..right???

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