The majority of electricity market share in deregulated states is held by the major retailers, AGL, Origin and EnergyAustralia. However, in recent years a growing number of smaller retailers have risen up and slowly begun to chip away at the big guys. Among those leading the charge are Lumo Energy and Simply Energy. Both these retailers offer big discounts and alluring specials, but how do they stack up in value when pitted against each other?
In this article, Canstar Blue compares Lumo Energy and Simply Energy electricity deals across each operating state to see which is cheaper. While some plans share the same names across different states, the details of the offer may vary. Be sure to read the energy price factsheet for full details and ensure it’s the right deal for you. As both providers regularly change their plans, check their websites for up to date information. You can also compare their latest offers with our energy comparison tool.
Simply Energy vs Lumo Energy – Cheapest Deals
Here are the current cheapest published deals on our database for Simply Energy and Lumo Energy in the two states they serve – Victoria and South Australia – with any conditional discounts factored in.
Which deal is cheapest in VIC; Lumo or Simply Energy?
In this price comparison, Lumo Energy manages to be the cheapest of the two in Victoria, nudging past Simply Energy. You can compare these costs to many other providers in Victoria with our price comparison report.
Here are the Simply Energy and Lumo Energy plans on our database for Victoria. These are products from referral partners†. These costs are based on the Citipower 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. 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.
Which deal is cheapest in SA; Lumo or Simply Energy?
Like Victoria, Lumo Energy misses out on top place in this comparison. But remember that the Simply Energy plan is available to RAA members only. You can see how other retailers stack up in our SA electricity price comparison report.
Here are the Simply Energy and Lumo Energy plans on our database for South Australia. These are products from referral partners†. 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.
What plans do these providers offer in Victoria?
Victoria is the most competitive energy market in Australia, and this is reflected by the wide range of offers available from Simply Energy and Lumo Energy. Let’s start by reviewing those from Simply Energy, which has a strong focus on eye-catching discounts and promotional offers.
- Simply Movie Perks: This is a deal that brings Victorians Village cinemas rewards points. For every month on the plan, customers will receive 1,000 Vrewards points.
- Simply Basics: This is Simply’s somewhat ‘no frills’ plan, offering customers no discounts, but simple, low variable rates.
Lumo Energy has one main electricity offer in Victoria. While Lumo does not offer as many deals as Simply Energy, it does have some unique selling points, including access to a rewards program.
- Value: Lumo Energy has also recently launched a plan with no conditional discount, just competitive rates. It comes with no lock-in contract or exit fees, and allows customers to lock in rates until 31 August 2023.
What plans do these providers offer in South Australia?
Lumo Energy and Simply Energy both have a strong presence in the South Australian electricity market, with each provider offering a wide range of competitive deals. Let’s start with Simply Energy:
- Simply RAA Members: This offer is exclusive to members of RAA, coming with low variable rates and no exit fees, as well as a guaranteed discount.
- Simply Energy Saver: Similar to the motoring club plan above, this offer comes with a smaller unconditional discount, plus a small sign-up bill credit.
- Simply Seniors: This offer is exclusive to those with a Senior Card in SA, coming with low variable rates and no exit fees. This plan also comes with a guaranteed discount.
Lumo Energy offers South Australians a similar product suite as Victorians get, but of course costs will vary depending on your personal circumstances.
- Lumo Movers: This deal comes with no connection or disconnection fees for moving, though terms and conditions apply. It also gives customers access to the Lumo rewards program with additional rewards credits when signing up.
- Lumo Plus: This plan only differs slightly to the one above, with the same rates and no conditional discounts. However, customers on this plan must agree to quarterly billing in exchange for Lumo Rewards credits.
- Basic: This is Lumo Energy’s basic plan with no conditional discount, just competitive rates. It comes with no lock-in contract or exit fees. It also comes with access to Lumo rewards program.
How to get the best energy deal
It’s clear that both Lumo Energy and Simply Energy have plenty of enticing energy offers to choose from. That said, finding the best deal might require some digging past the headline discounts and incentives, and into the price fact sheets of the plans you are interested in.
Discounts and credits can be a great way to reduce your overall costs, but only if you’re also receiving competitive base rates – it’s all about finding a plan that offers you the best overall value. Also keep in mind that prices often change, meaning customers must keep vigilant and regularly compare deals to ensure they’re receiving the best offer. If you haven’t compared electricity providers or plans in the past few months, then you might not be receiving the best price on electricity.
This comparison is based on a very specific household, with usage figures and postcodes detailed above. Any annual cost estimates should be considered indicative only and not an actual quote. Please use our comparison tool for information catered to your location and electricity usage estimates.