This was posted 4 years 11 months 28 days ago, and might be an out-dated deal.

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33% off Electricity & 17% off Gas @ Lumo Energy [New Customers, VIC Only, 24 Month Contract]

72

Saw this on TV the other day and called up.

Basically the offer is 33% off elec and 17% off gas, and it's off the WHOLE bill, not just the usage. Only condition is you need to do direct debit and have email bills. AMEX has no surcharge!

I called and talked to the guy on the phone and he gave me a $100 credit (50 for gas, 50 for elec) to cover my break in contract with Red Energy. Rates are cheaper as well.

*For eligible new VIC residential customers who opt-in to direct debit and e-Billing (bills will be sent via email) and switch to the Lumo Advantage Premium product on a 24 month contract. Total bill discount applies to energy usage and daily supply charges, which are subject to change, when you pay in full by 5pm on the due date.

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closed Comments

  • How's their rate compare to AGL and others?

  • You go on a contract? Or month to month?

    • it's a 24 month contract, but you can leave anytime with no contract breaking fees :) :)

      • where is this stipulated ? seems daft to offer a 24month contract if your not tied into it

  • Is this the cheapest offer available ?

  • how is this in comparison with momentum energy?

  • Might want to mention VIC only.

  • +7 votes

    Best unbiased comparison website to compare electricity is: https://www.energymadeeasy.gov.au/

    For Victorians checkout https://compare.switchon.vic.gov.au/

    • I have tried those comparison websites and they are, frankly, useless. It contains no information on the derivation of the estimates (e.g. does it account for peak/non peak? What are the assumptions?) nor are the actual rates they used apparent. It is also unclear if it takes into account proposed rate raises which are already published.

      Moreover, it gives you far too much (useless) information. For example, my first page and a half (around 12) offers are all variations of the same offer by the same company, with a different estimate based on direct or no direct debit, email or not email etc.

      • Agreed, Old You Compare site in VIC was best because you could see all company's base rates easily, then compare the discounts they were offering

  • Beware of their monthly billing.They promise to do the average billing for 2 months and adjust it on the 3rd moth when the actual meter reading happens however in my experience they never adjusted with the actual reading.I been really slack to talk to customer care for last 4 years and only did it recently when i got around $400 bill for the months i was away overseas.They have changed me to 3 month cycle and adjusted $250 .I am waiting for the next bill to come with actual reading to compare the bills for last 4 years and contact cc and assume i may have to contact ombudsman if they cant convince me with the charges

    • thanks for the warning! How do i know if they've averaged it vs read the meter?

      • if you ask for a monthly bill which many energy retailers now provide (Retailers can send you an average bill for 2 months and adjust it when they get the actual meter reading which happens every 3 months) .However Lumo has never did the adjustment for me despite clearly explaining to me that this is how it works.Also when challenged customer care person wont comment about the past at all and keep telling me that we can solve this by changing me to the 3 month cycle.

    • I think now a days most of the meters are read remotely . Not sure if your meter is manually read.

  • Lumo, on their offer page related to this deal, mention that South Australia electricity was changed to Lumo, so does anyone know why this offer is for new VIC customers only? Just curious. I'm from SA.

  • I never will understand energy pricing. How can it be allowed to advertise a discount when you don't even mention the base rate. Is it off peak/ peak …do they have shoulder period … what are the times of the peak and off-peak periods - is it an anytime usage - how high is the solar feed in - what is the daily fee to be just connected - what is the contract term - type of energy (green or coal)? You can't compare energy prices with just a % figure

    For Victoria: Check this page: https://compare.switchon.vic.gov.au … I have a smart meter and can download my usage profile and upload it to the page … it gives me a nice comparison based on my usage. In my case I have Simply Energy and Powershop as the cheapest retailers. Lumo comes up as more expensive. Please also treat this page careful as it might not include all retailers … so check yourself.

    I vote this negative as a little warning as it has not enough information to be warranted a deal. The % figure is just not enough for me. But the offer might be suitable for some … (it will be cheaper than most tariffs out there). It's good to compare yourself.

    • Thanks mate. Just checked Switchon and it shows Lumo as cheapest after discounted rate for my area.

      • @excahnge01 It's not a bad deal in most cases. The 2 year contract will be a problem for most renters (as the rental contract will be only 1 year. It's a pity that they make the comparisons so difficult. Ah well … one day I will have a big enough solar system to charge my electric car and go off grid … one day.

        • It's not really a 2 year contract as there's no break fee.

        • @magicmoose: Makes it confusing … why have a 2 year contract then when you can just break it?

        • @mini_wombat: I think (could be wrong though) that, at least with some providers, the 33%/17% discount is locked in for two years, then may change. So basically you can leave, but they are stuck with the discount. Obviously they can just change the rates though…

        • Yes that's a weird one. The contract actually works in your favor. It essentially means that they can't put up rates (apart from CPI adjustments) during that period, however you can break it (no exit fee) if you choose to. That's how it was explained to me anyway by a provider that doesn't charge exit fees.

    • I agree, it's very difficult to calculate specific savings. As an OCD Ozbargainer (and self proclaimed numbers guru) I have spent many hours analyzing the multitude of deals out there. There are so many parameters and factors to consider, one should NEVER take any discount % at face value NOR completely rely on comparison sites. Most providers published rates are deliberately constructed to confuse the average Jo. You really need to know your usage patterns (12 month period) and compare the TOTAL cost of switching. Not as straight forward as it sounds.

      To throw a spanner in the works, many providers also have 'unadvertised' (they may call it exclusive or some other marketing term) that you will only know about if you call them and 'threaten' to switch. In my case after about 3 days of research I found a slightly better Power+Gas deal than mine. When I contacted my existing provider they on the post offered me a much better deal so I stayed.

      Again, think of the total cost i.e Supply charges, Rates, Switching charges, Meter read charges, Credit Card / Direct debit charges, peak/off peak rates, rate increase conditions within contract period, billing structure, gas bundle discount, prompt payment discount etc.

    • It would be great if energy companies had to show a Critical Information Summary with every offer, providing certain information in an easy format (similar to telcos). Instead they bury that shit 5 pages down, at the bottom of some 50 page PDF and with different acronyms/labels/formatting every time

  • +3 votes

    Meh, Powershop is still the cheapest

    • Can you please provide your rate instead of just saying that it's cheaper.

      • Powershop charges 17.25 cents per KWh, one of the cheapest rates around. BUT they don't offer any % discount. So at the and of the day they are not the cheapest, in fact one of the most expensive ones for NSW. (Their supply charge is 88.41 cents a day - the most expensive supply charge in NSW)

      •  

        Well the Powershop depends on usage. They give you a c/Kw which also includes supply charge, so it varies depending on your predicted usage.
        Also Melb is split into 4 different suppliers with different rates.
        But their PPIS staement is here, so you can work it out for yourself.
        http://www.powershop.com.au/ppis/

        Lumo
        Distribution Area: Jemena
        Residential Single Rate inc GST
        Supply charge (with 33% discount)
        127.325 (85.3)c/day
        Peak (with 33% discount)
        29.249 (19.6)c/KWh

        In Dec used 90KWh (we were away for 3wks)
        PS $26.12
        Lumo $44.07

        July used 701KWh
        PS $131.25
        Lumo $163.84

        So again Meh, Powershop is still the cheapest

        • Whenever I look into Powershop, I always end up feeling it's too difficult to bother with.

          This is from their FAQs:

          What do I have to do differently
          if I’m a Powershop customer?
          You can deal with Powershop in
          exactly the same way as you deal
          with your existing power company
          – where a meter reading is taken
          (or an estimate of your usage is
          made) and you pay for the power
          that you’ve used each month. If you
          want to take advantage of all that
          Powershop has to offer you can
          use our online shop where you can
          log in as often as you want, enter
          your meter readings, see how much
          power you’re using and snap up our
          offers and specials and get an even
          better price!

          Out of interest, do you deal with them as you would any other retailer, or do you use their online shop to snap up offers? And if so, how much time does that take?

        •  

          @James1976:
          Short answer, sort of, you can give them your credit card & every month they'll deduct the amount owing. But if you're happy to download their app & pre-purchase pwoer, you can save some $'s.

          Long answer: Yeah it's hard to wrap your mind around it initially.
          The idea is that you use the phone app to pre-purchase power (they have your credit card on file) at a discounted rate. They calculate how much power they expect you to use, then offer you a c/KWh rate, which includes your connection charge.
          e.g. in July they offered me a discounted rate of 19c/KWh & in Summer it was 27c/KWh.
          Every month is you haven't purchased enough power, they just deduct the balance at their standard rate (~7c/KWh more) off your credit card/balance. If you have extra power it just rolls over to the next month.

          Every so often they off spot specials, which you just open the app & click buy. They also offer pre-purchasing discounted packs in advance .e.g they might off me an Autumn power pack tomorrow for say 22.5c/KWh.

          Every Saturday I get a weekly power update email with how much I've used, how much credit I have, etc

          So it's maybe a bit more work, but for the extra 5mins/week I get cheap power. The only bugga is they don't do gas.

        • @supabrudda:

          Thanks for the response. I live with a housemate and our bills are about 300 per quarter, so I pay about 150. So even if I put the time in, I just don't think it would be worth much for me. 1 year of a contract left as well.

          It would probably be worth looking into if you had time and a large bill, though.

  • 30% off a base dream rate… not really 30% off at all, false advertising.
    That aside, it may offer a saving to some?

  • Was anyone able to negotiate to include 6 Velocity points per dollar spent on bills with Lumo?

  • We just signed up to Lumo through a porter service. Were put on a movers' plan as it was the only one they offered. Phoned up Lumo literally the day after we signed up (and before moving in) and they changed the plan to this one, set up direct debit, all good. Only took 45 minutes…

    Got a letter yesterday saying we're still on the old, more expensive plan (10% discount not 33%), so phoned them up. They have no record of the previous conversation and originally refused to back-date the cheaper plan. They eventually agree to backdate the plan change as they had agreed to do it before we moved in.

    They call back 10 minutes later and tell me their system wouldn't allow the backdating, and offer me a $10 discount instead (instead of the extra 25% discount we should have been getting for a month). Yeah right!

    Now I will probably have to go to Ombudsman :(

    Useless idiots…

  • Any good deal for NSW?

  • Misleading advertising, not a bargain.

    • In what way is it misleading?

      • Only giving half the story by promoting a discount without quoting a base rate.

        A large discount off a high base rate is misleading.

        The finance industry had the same problem years ago until they were forced to quote standardised comparison rates for loans.