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

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33% off Electricity & 17% off Gas @ Lumo Energy [New Customers, VIC Only, 24 Month Contract]
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blueonion on 29/01/2016 - 10:34 lumoenergy.com.au (423 clicks)
Last edited 29/01/2016 - 10:45 by 1 other user

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.

Referral Links

Referral: random (193)

VIC and SA only: Referrer and referee each get $50 eGift card after signing.

Home & Garden Electricity Gas Supply Utilities

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Lumo Energy
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closed Comments

  • ntt on 29/01/2016 - 10:38

    How's their rate compare to AGL and others?

    • blueonion on 29/01/2016 - 10:39

      rates are at the bottom of the page
      http://lumoenergy.com.au/hotoffer

      click the pdfs. I'm with United (supplier), and they are cheaper "AFTER" the discount.

      • jv on 29/01/2016 - 10:40
        -4

        and they are cheaper "AFTER" the discount.

        wouldn't that depend on your usage ?

        • blueonion on 29/01/2016 - 10:42
          +3

          jv, the base rate is cheaper, and the daily service charge is cheaper.

          I was paying around 94c/kwH with Red, and the offer from Lumo is 81.97c/kwH

        • jv on 29/01/2016 - 10:43

          @echang01:

          thanks…

        • nightelves on 29/01/2016 - 10:56
          +3

          @echang01:

          Why is your kwH charges so high? Thought its only around 22.93c because that's what I'm paying

        • [Deactivated] on 29/01/2016 - 11:04

          @echang01: Is that your daily supply rate i.e. 94c/day & 82c/day?

        • nightelves on 29/01/2016 - 11:07

          @supabrudda:

          Yeah I'm in Victoria. I just saw the rates.

    • jv on 29/01/2016 - 10:39

      How's their rate compare to AGL and others?

      Why did you vote +ve if you don't know the rate?

      What if it cost more than your current supplier ?

      • ntt on 29/01/2016 - 10:42

        Im using AGL solar 7% discount. What makes you think anything else cost more than agl

        • jv on 29/01/2016 - 10:44
          -1

          What makes you think anything else cost more than agl

          Where did I say AGL was cheaper ?

        • ntt on 29/01/2016 - 12:02

          @jv: > What if it cost more than your current supplier ?
          You are an old man jv

        • John Dough on 29/01/2016 - 13:00

          @ntt:
          He makes a fair point, how much of a good deal is this really?

        • jv on 29/01/2016 - 14:45

          @ntt:

          @jv: > What if it cost more than your current supplier ?

          You should ask your teacher to explain to you the difference between a statement and a question.

  • diddy50 on 29/01/2016 - 10:38

    You go on a contract? Or month to month?

    • blueonion on 29/01/2016 - 10:40
      +1

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

      • droodle on 29/01/2016 - 12:54
        +2

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

  • jv on 29/01/2016 - 10:39

    Is this the cheapest offer available ?

    • [Deactivated] on 29/01/2016 - 10:53

      I reckon Momentum Energy would be heaps better.

  • Ametric on 29/01/2016 - 10:41

    how is this in comparison with momentum energy?

    • blueonion on 29/01/2016 - 10:43
      +3

      call them and do a quick bill comparison, they basically tell you for the amount you use, and for the days you were billed for, how much THEY would charge you, then you compare it with what you WERE charged by your retailer

      • Ametric on 29/01/2016 - 10:45

        Thanks, will give it a try

    • [Deactivated] on 29/01/2016 - 10:46
      -5

      You lazy? or got broken fingers that prevents you from googling momentum energy rates? Obviously not since you wrote above. It's not like you have to get out from the chair your sitting in or even pick up the mobile phone and actually talk to someone to find out.

      Do it and report back.

      • Ametric on 29/01/2016 - 10:56
        -1

        haven't you had a good night sleep, that you decided to teach me? I'll do a comparison though, as I even have a printed copy of momentum rates at home…

  • bym on 29/01/2016 - 10:42

    Might want to mention VIC only.

  • ciab on 29/01/2016 - 10:42
    +7

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

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

    • jv on 29/01/2016 - 10:46
      +1

      or just make your own…

    • Fiximol on 29/01/2016 - 11:00
      +1

      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.

      • James1976 on 29/01/2016 - 11:35

        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

  • JJJ on 29/01/2016 - 10:47

    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

    • blueonion on 29/01/2016 - 10:48

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

      • JJJ on 29/01/2016 - 10:55

        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.

    • pyramid on 29/01/2016 - 10:54

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

  • BertieBrown on 29/01/2016 - 10:47
    +1

    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.

  • mini_wombat on 29/01/2016 - 10:56
    +9

    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.

    • blueonion on 29/01/2016 - 11:10

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

      • mini_wombat on 29/01/2016 - 11:44

        @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.

        • miarn on 29/01/2016 - 11:55

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

        • mini_wombat on 29/01/2016 - 13:18

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

        • miarn on 29/01/2016 - 13:21
          +1

          @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…

        • gimme on 29/01/2016 - 15:48

          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.

    • gimme on 29/01/2016 - 12:27
      +2

      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.

    • miarn on 29/01/2016 - 13:25

      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

  • [Deactivated] on 29/01/2016 - 10:58
    +3

    Meh, Powershop is still the cheapest

    • nightelves on 29/01/2016 - 11:12
      +1

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

      • Sharp on 29/01/2016 - 11:38

        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)

      • [Deactivated] on 29/01/2016 - 11:42

        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

        • James1976 on 29/01/2016 - 11:52
          +1

          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?

        • [Deactivated] on 29/01/2016 - 12:24

          @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.

        • James1976 on 29/01/2016 - 13:48

          @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.

    • Holysmoke on 29/01/2016 - 23:36

      $75 credit for Powershop referrals: https://www.ozbargain.com.au/wiki/powershop_referral_links

  • Cheeper on 29/01/2016 - 11:12
    +1

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

  • nightelves on 29/01/2016 - 11:14
    +1

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

  • miarn on 29/01/2016 - 11:35
    +2

    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…

  • delfredo on 29/01/2016 - 12:01

    Any good deal for NSW?

  • damoo on 29/01/2016 - 16:14
    -1

    Misleading advertising, not a bargain.

    • miarn on 29/01/2016 - 17:19

      In what way is it misleading?

      • damoo on 29/01/2016 - 22:43
        -1

        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.

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