Simply Energy vs Lumo Energy: Electricity cost comparison

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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.

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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.

Victoria – quick comparison

Here are the Simply Energy and Lumo Plans plans on our database for Victoria. These costs are based on the Citipower network in Melbourne but prices will vary depending on your circumstances. Plans are listed in order of lowest price first. See here for further information on the VDO, which in this comparison assumes general energy usage of 4000kWh/year, meaning that the VDO is $1,334/year. Use our comparison tool for a specific comparison. These are products from a referral partner†. Our database may not cover all deals in your area, and please check retailer websites for up to date information.

Brand Features Price(estimated˜)
Lumo Logo
Energy Fact Sheet

Lumo Value 5

Conditional Discounts

  • Further 5% less than VDO for paying on time and direct debit
7% LessThan VDO› $1,174
incl. conditional discount
Go To Site
Simply Energy Logo
Energy Fact Sheet

Simply RACV

No Conditional Discounts

Other Features:

  • Price includes $150 first anniversary credit
  • $50/year credit thereafter
Equal
To VDO›
$1,187 Go To Site
View all electricity plans listed on Canstar Blue

South Australia – quick comparison

Here are the Simply Energy and Lumo Energy plans on our database for South Australia. These costs are based on SA Power network in Adelaide but prices will vary depending on your circumstances. Plans are listed in order of lowest price first. See here for further information on the AER Reference Price, which in this comparison assumes general energy usage of 4000kWh/year, meaning that the Reference Price is $1,941/year. Use our comparison tool for a specific comparison. These are products from a referral partner†. Our database may not cover all deals in your area, and please check retailer websites for up to date information.

Brand Features Price(estimated**)
Simply Energy Logo
Basic Plan Information

Simply RAA

No Conditional Discounts

Other Features:

  • Price includes $260 first anniversary credit
  • $60/year credit thereafter
13% LessThan Reference Price^^ $1,687 Go To Site
Lumo Logo
Basic Plan Information

Lumo Basic

No Conditional Discounts

8% Lessthan Reference price^^ $1,790 Go To Site
View all electricity plans listed on Canstar Blue

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 Plus: This is a no lock-in contract energy plan that brings $50 first anniversary electricity credit.
  • Simply RACV: This energy deal is exclusive to RACV members in Victoria, offering $150 first anniversary electricity credit and $50 credit each year thereafter.
  • Simply Gold Class: This deal is similar to the plans mentioned above but it’s difference is that it includes four Gold Class tickets every year at Village Cinemas.

Lumo Energy has four main electricity offers in Victoria. While Lumo’s discounts might not look quite as impressive as Simply Energy’s at face value, Lumo Energy discounts apply to your entire bill, not just usage charges, which could prove just as beneficial, if not more so.

  • Lumo Value: This seems to be Lumo’s flagship electricity product in Victoria, with reasonable rates and a modest 5% total maximum discount off electricity usage and supply charges. This includes a 3% pay on time discount, with an additional 2% should you agree to direct debit billing. The contract is ongoing with no exit fees. Discounts are also ongoing.
  • Lumo Movers: Lumo Energy is one of few retailers to offer a specific plan to renters. In this case, the deal is very similar to the one above but comes with no connection or disconnection fees for moving, though terms and conditions apply here. Like the Value plan, a discount of up to 5% is also available.
  • Lumo Basic: 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. It does not include access to Lumo’s rewards program, Lumo Ameego, like the other plans do.

Who’s cheapest in Victoria?

As you can probably tell, Victorians are spoiled for choice when it comes to electricity retailers and plans. Unfortunately, that also makes it difficult to find the best value deal. To see who is cheaper between Lumo Energy and Simply Energy, we have compared the cheapest plans of each retailer.

In the table below, we show Simply Energy and 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 $1,334/year. 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 7% Less Than VDO Further 5% less than the VDO for paying on time and direct debit $1,174
Simply Energy Simply RACV Equal to VDO No conditional discounts $1,187
Energy Fact Sheets

˜Price assumes general energy usage of 4000kWh/year. Estimated price includes any conditions discounts that may be available. Pricing based on Citipower network in Melbourne, but prices differ between distribution areas. August 2019.

With its conditional discount, Lumo Energy emerges as the cheapest of the two in Victoria for this price comparison. You can compare these costs to many other providers in Victoria with our price comparison report.

Electricity Provider Customer Ratings

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 Plus: This plan comes with $30 electricity credit every anniversary (i.e. every year you spend with the retailer). There is no lock-in contract.
  • Simply RAA: This offer is exclusive to members of RAA, with a whopping $260 credit on the first anniversary of the supply date, plus $60 electricity credit every year thereafter.
  • Simply Movie: Like in Victoria, Simply Energy has an energy offer for movie fans in SA. It includes four Gold Class tickets every year at Event Cinemas.

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. $50 sign-up credit may be available, plus access to the Lumo Ameego rewards program.
  • Lumo 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 $50 sign-up credit.
  • Lumo Options: This is Lumo Energy’s most costly plan as it simply matches the Reference Price in South Australia.

Who’s cheapest in South Australia?

To find out which electricity provider works out cheapest in South Australia, let’s compare the Simply Movies offer and the Lumo Basic plan as their cheapest deals. Be sure to use our energy comparison tool for a specific quote in your area.

In the table below, we show Simply Energy and 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. Use our comparison tool for a specific comparison in your area.

Electricity Provider Electricity Plan Difference from Reference Price^ Conditional Discounts Price Estimate*
Simply Energy Simply RAA 13% Less Than Reference Price No conditional discounts $1,687
Lumo Energy Lumo Basic 8% Less Than Reference Price No conditional discounts $1,790
Basic Plan Information Documents

*Price assumes general energy usage of 4000kWh/year. Estimated price includes any conditions discounts that may be available. Pricing based on SA Power network in Adelaide, but prices differ between distribution areas. July 2019.

Unlike 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.

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 12 months, then you might not be receiving the best price on electricity.

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