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 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.

South Australia – quick comparison

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.

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 Simply’s somewhat ‘no frills’ plan, offering customers a generous discount when compared to the VDO for paying on time.
  • Simply Movies: This is a deal that brings Victorians Village cinemas rewards points. For every month on the plan, customers will receive 1000 Vrewards points.
  • Simply AFL: This energy deal targets footy fans, offering a $150 voucher to use at the AFL online store. Customers should receive the voucher within four weeks of their supply start date.

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 discount off electricity usage and supply charges for paying bills on time. 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.
  • 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 $1,420/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˜
Simply Energy Simply Plus Equal To VDO Reduces to 15% less than the VDO for paying on time $1,207incl. conditional discount
Lumo Energy Lumo Value 5% Less Than VDO Reduces to 8% less than the VDO for paying on time $1,313incl. conditional discount
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. April 2020.

With a slightly more modest conditional discount, Lumo Energy doesn’t manage to be the cheapest of the two in Victoria for this price comparison, losing out to Simply Energy. 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 RAA: This offer is exclusive to members of RAA, coming with a sign-up credit and reasonably low rates.
  • Simply Plus: Similar to the motoring club plan above, this offer comes with a smaller sign-up bill credit of $25 and reasonably low rates.

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 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 Ameego 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 $50 sign-up credit.
  • Standing Offer: This is Lumo Energy’s most costly plan as it roughly 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 RAA 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 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*
Simply Energy Simply RAA 13% Less Than Reference Price No conditional discounts $1,685
Lumo Energy Basic 8% Less Than Reference Price No conditional discounts $1,785
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. April 2020.

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.

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.

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. 

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