Lumo Energy Review and Rates
In this review, Canstar Blue takes a close look at Lumo Energy. We walk you through the energy plans, rewards and incentives Lumo Energy currently offers, and provide a guide as to how much you can expect to pay. Does it stack up well on price and features? Let’s find out.
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Lumo Energy Plans
Lumo Energy has two core electricity plans on offer across Victoria and South Australia, with an additional product available for sign-up in Victoria. Its range of deals includes an offer with conditional discounts, as well as plans with no discount at all, and an offer pitched specifically at people who rent their home. Customers who sign up to selected Lumo plans will also receive access to Lumo Ameego – Lumo’s exclusive customer shopping program which brings rewards at various entertainment and retail outlets. Customers may also receive a $50 credit on their first electricity bill when signing up online. All Lumo Energy market offers come with variables rates, which means they could be changed at any time. Read on for all the details, including latest prices.
Lumo Electricity Prices
Here are the Lumo Energy plans on our database for Victoria. These are products from a referral partner†. These costs are based on the Citipower energy network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are the Lumo Energy plans on our database for South Australia. These are products from a referral partner†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
The Lumo Basic plan now appears to be the retailer’s flagship offer in South Australia. While Lumo Energy was previously known for big discounts, the retailer has for a while now also promoted its ‘Basic’ electricity offer. With no contract term or exit fees, Lumo promises simply low rates with this plan. “Low rates U can count on” Lumo said on its website.
Lumo Energy is one of few electricity retailers to offer a specific power plan for renters. What makes it unique for people who rent their home you ask? Well, quite simply, there are no connection or disconnection fees when you move! Though, be aware, there may be some restrictions on this as terms and conditions apply. Other than the lack of moving fees, the plan is very similar to the Lumo Value in that it comes with a discount of off electricity usage and supply charges for paying on time. Lumo Movers also brings access to the Lumo Ameego shopping program.
The Lumo Value plan comes with a modest discount off electricity usage and supply charges for customers who pay their bills on time. The plan also comes with no contract term and no exit fees. Lumo Value customers will also get access to the Lumo Ameego shopping program. This product is only available in Victoria.
Standing Offer is Lumo Energy’s ‘equal to Reference Price’ offer. It is entirely flexible with no exit fees or contract terms, however, it works out to be Lumo’s most expensive plan.
Lumo Energy Rates
Lumo Energy is fairly price competitive, with the added bonus of Lumo Ameego providing additional value benefits, as long as you take advantage of them. In order to give customers an idea of how much being a Lumo customer might cost, we’ve calculated the expected annual cost of electricity for each Lumo Energy product at selected postcodes across each state.
Lumo Electricity Prices Victoria
In the table below, we show Lumo Energy prices on the Citipower network in Melbourne. Plans are listed from the lowest priced estimate first. See here for information on the VDO, which in this comparison assumes general energy usage of 4000kWh/year, meaning the VDO is $1,420/year for a residential customer on a single rate tariff. Use our comparison tool for a specific comparison in your area.
|Electricity Provider||Electricity Plan||Difference from VDO›||Conditional Discounts||Price Estimate˜|
|Lumo Energy||Lumo Value||5% Less Than VDO||Reduces to 8% less than the VDO for paying on time||$1,313Incl. conditional discount
|Lumo Energy||Lumo Movers||2% Less Than VDO||Reduces to 5% less than the VDO for paying on time||$1,348Incl. conditional discount
|Lumo Energy||Basic||5% Less Than VDO||No conditional discounts||$1,353
|Lumo Energy||Victorian Default Offer||Equal To VDO||No conditional discounts||$1,420
|Energy Fact Sheets|
˜Price assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Estimated price includes any conditions discounts that may be available. Pricing based on Citipower network in Melbourne, but prices differ between distribution areas. December 2019.
See how Lumo Energy compares to other electricity providers in the state with our Victoria electricity price comparison.
Lumo Electricity Prices South Australia
In the table below, we show Lumo Energy prices on the SA Power network in Adelaide. Plans are listed from the lowest priced estimate first. See here for information on the AER Reference Price, which in this comparison assumes general energy usage of 4000kWh/year, meaning the Reference Price is $1,941/year for a residential customer on a single rate tariff. Use our comparison tool for a specific comparison in your area.
|Electricity Provider||Electricity Plan||Difference from Reference Price^||Conditional Discounts||Price Estimate*|
|Lumo Energy||Basic||8% Less Than Reference Price||No conditional discounts||$1,785
|Lumo Energy||Lumo Movers||3% Less Than Reference Price||No conditional discounts||$1,884
|Lumo Energy||Standing Offer||Equal to Reference Price||No conditional discounts||$1,940
|Basic Plan Information Documents|
*Price assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Estimated price includes any conditions discounts that may be available. Pricing based on SA Power network in Adelaide, but prices differ between distribution areas. December 2019.
Check out our SA price comparison page to see how Lumo Energy compares to other providers in South Australia.
If you’re interested to see how other retailers compare outside Victoria and South Australia, check out our other reports below.
Retired Lumo Energy Products
The above plans are what’s currently on offer from Lumo Energy. However, if you’re an existing customer and don’t recognise the names of the deals mentioned above, it could be because you signed up to one of Lumo’s now retired products. If this is the case, it might be worth getting in touch with Lumo to discuss your options.
This was Lumo Energy’s plan marketed at movie-lovers. While it came with the same pricing as the Lumo Value deal mentioned above, it had the added bonus of two-for-one HOYTS movie tickets from Monday to Wednesday. Also like the Value plan, it came with a discount of either 3% or 5% depending on whether or not customers agreed to pay by direct debit. Rates are variable but there are no exit fees.
Lumo Energy called this plan the ‘popular kid’ of its electricity deals. Lumo Advantage customers who paid their bills on time received a discount off both usage and supply charges (i.e. your total bill). Victorians received a 27% discount off their bills, while South Australians received 15% off.
Lumo Advantage Premium
This deal was also offered to Victoria and South Australia and was identical to Lumo Advantage in many respects. The only real difference was that customers on Lumo Advantage Premium could earn an additional discount off usage and supply charges by organising to pay via direct debit and receiving correspondence by email. Discounts reached 30% in Victoria and 17% in SA.
The eDeal was only available to Victorian customers. It had no contract term and a tidy 33% discount off usage and supply charges. In order to receive this, customers must have signed up online and opted into direct debit, e-Billing and an e-welcome pack. Customers on this plan also received access to the Lumo Ameego program.
Lumo Energy Natural Gas
In addition to electricity, Lumo Energy also retails natural gas in Victoria and South Australia, with its gas deals closely mirroring its electricity plans. Available products are:
- Lumo Value
- Lumo Movers
- Lumo Basic
Lumo Value Gas
This deal comes with similar terms as the equivalent Lumo Value electricity plan. Customers who pay their bill “early” (before 5pm on the due date) may also be entitled to a small discount. There is no contract term or exit fees, and customers get access to the Lumo Ameego shopping program. This plan is only available in Victoria.
Lumo Movers Gas
Lumo Movers Gas customers receive a discount on their bill for paying on the due date before 5pm. There is no contract term or exit fees, and customers get access to the Lumo Ameego shopping program.
Lumo Basic Gas
This is Lumo Energy’s basic gas deal, with no conditional discounts, just “low rates”. It does not provide access to Lumo Ameego.
Like most retailers, Lumo Energy has a MyAccount platform that lets customers manage everything related to their energy account in the one place. Accessed online, MyAccount lets customers:
- Check & Monitor energy usage
- Pay your bills
- View & compare previous bills
- Update personal details
- Change billing method
Lumo Energy’s MyAccount even lets you export your energy usage data. Victorians can then upload this data to the My Power Planner tool on the Victorian Government’s Switch On website.
Customers can pay their bills however they like. Lumo jokes they can even pay in gold bullions if they really wanted to. Its payment options include:
- Online payment
- Direct Debit
- In person at Australia Post
Customers can manage how they are billed through MyAccount. It can also be used to apply for hardship and financial difficulty concessions.
Is Lumo Energy right for me?
Lumo Energy is a serious challenger in the market and seems a perfectly viable choice of electricity retailer. Its rates and discounts are generally competitive, often making it one of the cheapest companies out there. In addition, Lumo Energy has a great rewards program, its plans don’t lock you in with exit fees, the discounts remain ongoing, and its MyAccount app takes out all the complication of managing your account. But with variable rates, its prices could be changes at any time.
Perhaps Lumo Energy’s most obvious short-coming is that its solar deals are not as strong as some competitors. Lumo’s feed-in tariff rates are fairly average and it doesn’t offer installation for customers interested in getting on board with solar power. All in all, it’s a good idea to keep your options open and compare offers from a wide range of retailers.
How do customers rate Lumo Energy?
South Australian electricity customers gave Lumo Energy 4 out of 5 stars for overall satisfaction in our customer ratings report.