Best Energy Switching Bonus UK: How to Compare Offers

Last updated: 14 October 2026

Looking at Octopus specifically? Tariffs, exit fees, supplier comparisons and the referral rules are in our Octopus Energy guides hub.

What counts as an energy switching bonus in the UK

Suppliers rarely call it a bonus, but most switching offers fall into five types:

• Referral rewards: account credit or vouchers paid after a successful switch.
• Promotions on one tariff: campaigns that run for a set period.
• Cheap electricity windows: discounted hours if you move your usage.
• Bundled extras: add-ons such as boiler cover that lower other costs.
• Tariff savings: not a bonus at all, but usually the biggest saving.

The three numbers that matter more than the bonus

Before you switch for a reward, check these three figures:

• The annual cost: standing charge plus unit rates, worked out on your real usage.
• Exit fees and contract length: these matter if you might switch again soon.
• The payout trigger: whether the reward is credit or a voucher, and what has to happen first.

For example, if a tariff costs you £8 more a month, a £50 bonus is gone in about six months.

Referral rewards: the most common energy switching bonus

Referral schemes run all year rather than in short promotions, so they are the switching reward you are most likely to find. Most only pay once you are fully on supply and your Direct Debit is live.

Octopus is the clearest example. You and the friend who referred you both get account credit once the switch completes and the first monthly Direct Debit has gone out. The current amount and the rules are on our Octopus referral guide.

Some suppliers pay vouchers instead of bill credit. E.ON Next's refer-a-friend scheme offers a £50 voucher, which suits you if you would spend it anyway, though it is less flexible than credit off your bill. The details are on the E.ON Next refer a friend page.

Cheap electricity windows

A cheap window can beat a one-off bonus over a year if your routine fits it. British Gas PeakSave gives smart meter customers half-price electricity from 11am to 4pm every Sunday. You pay as normal and British Gas credits half the cost back, and the details are on the British Gas PeakSave page.

So if you can run the washing, the dishwasher and car charging on a Sunday afternoon, it adds up. If you cannot, you get very little from it.

Tariffs that promise to undercut the price cap

Cap trackers are the quieter alternative to a bonus. The rate still moves every quarter with Ofgem's price cap, but the supplier promises to stay below it.

• E.ON Next Pledge: E.ON Next says prices stay below the cap, saving £50 a year on average use, split £25 per fuel. There is a £25 exit fee per fuel if you leave E.ON Next. See the E.ON Next Pledge page.
• British Gas Fixed Tracker: British Gas says the tariff tracks the cap and you pay up to £50 less. See British Gas tariffs.

Over a year, a discount like that matches a one-off £50 credit on a tariff that sits at the cap, and it keeps paying if you stay.

Promotions tied to fixed tariffs

These come and go, and some claw the value back through higher rates. Before you take one, compare its annual cost with the supplier's standard tariff, then decide whether the reward still leaves you better off.

How long switching takes

Your supply stays on throughout. Ofgem requires suppliers to switch you within 5 working days, and if they miss that, your new supplier must pay you £40 automatically. The rules are on Ofgem's switching page.

Final readings, the first bill and any credit can take longer to settle. Our Octopus Energy switch process guide walks through what happens after you sign up.

How to claim a switching bonus

1. Start from the referral link or the supplier's own referral page, because the reward is tracked from there.
2. Use the same email address all the way through.
3. Keep your Direct Debit running until the reward has paid out.
4. Take a screenshot of the offer terms on the day you join.
5. Compare the tariff cost first, because it outweighs the bonus over a year.

Octopus Energy referral guide

FAQs

What is the best energy switching bonus in the UK?

The one on the tariff that is cheapest for your usage. A referral credit is the most common bonus, but a tariff that sits below the price cap can save more over a year than a one-off reward.

When do you get an energy referral reward?

Usually after the switch completes and your first Direct Debit has been taken. Each supplier sets its own trigger, so check the terms on the day you join.

How long does it take to switch energy supplier?

Suppliers must complete the switch within 5 working days. If they do not, your new supplier must pay you £40.

Is a voucher better than account credit?

Credit comes straight off your bill, so it is more flexible. A voucher is only as useful as the shop it is for.

Can I switch supplier if I owe money?

Ofgem says you cannot switch if you have owed your supplier money for more than 28 days. You need to repay the debt first.

More from CoolCuration

• Octopus Energy guides: tariffs, exit fees and the referral rules in one place.
• Monzo referral: the current account sign-up reward and how to claim it.
• tado Smart Thermostat X: a smart thermostat for cutting heating use.
• Chip: the savings app that moves money aside automatically.

Tariffs, rewards and prices change. This page is information, not financial advice, and brands do not choose what we feature.

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