Contents
Red Energy Vs Lumo Energy - Who Offers the Cheapest Plans?
The main difference between Red Energy and Lumo Energy is the overall value that each provider offers to their consumers. Both retailers bring competitive offers to the table, but one provides more cost-effective value than the other. Read below to find out more.
In our latest article, we cover two unique energy providers, Red Energy and Lumo Energy. If you’re wondering what each has to offer, we’ve got you covered. From the latest electricity plans to each retailer’s current solar feed-in tariff rates, you’ll get an in-depth look at each provider so you can see if they’re right for you.
Red Energy vs Lumo Energy Plans NSW
In NSW, Lumo Energy doesn’t service the area. Red Energy offers the best value by default.
| Plan Name | % Below DMO* | Price/year (Est.) |
|---|---|---|
Living Energy Saver
|
19% | $1,475 |
*New South Wales electricity rates are based on usage of 3911kWh/year for a residential customer on a single rate tariff in the Ausgrid network, the DMO reference price is: $1,827 / year. Click here for more information.
Red Energy vs Lumo Energy Plans VIC
In VIC, Red Energy’s Living Energy Saver is more cost-effective than Lumo Energy’s Lumo Plus plan.
| Plan Name | % Below VDO* | Price/year (Est.) |
|---|---|---|
Living Energy Saver
|
20% | $1,245 |
Lumo Plus
|
15% | $1,324 |
*Victoria electricity rates are based on usage of 4000kWh/year for a residential customer on a single rate tariff in the Citipower network, the VDO reference price is: $1,571 / year. Click here for more information.
Red Energy vs Lumo Energy Plans QLD
In QLD, Lumo Energy doesn’t service the area. Red Energy offers the best value by default.
| Plan Name | % Below DMO* | Price/year (Est.) |
|---|---|---|
Living Energy Saver
|
13% | $1,698 |
*Queensland electricity rates are based on usage of 4613kWh/year for a residential customer on a single rate tariff in the Energex network, the DMO reference price is: $1,969/ year. Click here for more information.
Red Energy vs Lumo Energy Plans SA
In SA, Lumo Energy’s Basic plan is more cost-effective than Red Energy’s Living Energy Saver plan.
| Plan Name | % Below DMO* | Price/year (Est.) |
|---|---|---|
Basic
|
7% | $2,119 |
Living Energy Saver
|
6% | $2,133 |
*South Australia electricity rates are based on usage of 4011kWh/year for a residential customer on a single rate tariff in the SA Power Networks, the DMO reference price is: $2,279/ year. Click here for more information.
Red Energy vs Lumo Energy Plans ACT
In ACT, Lumo Energy currently does not service the area. Red Energy offers the best value by default.
| Plan Name | % Below DMO* | Price/year (Est.) |
|---|---|---|
Living Energy Saver
|
22% | $1,658 |
*Australian Capital Territory electricity rates are based on usage of 6100kWh/year for a residential customer on a single rate tariff in the Evoenergy network, the DMO reference price is: $2,152 / year. Click here for more information.
Red Energy vs Lumo Energy Solar FiT
Next, we’ll cover the latest solar feed-in tariffs (FiT) offered by Lumo Energy and Red Energy. Solar feed-in tariffs have become popular in the solar community, offering numerous financial benefits for solar owners. Want to learn more about solar plans? Give us a call today and speak with one of our solar experts to learn more.
| State |  |  |
|---|---|---|
| NSW | 12.00 | n/a |
| QLD | 8.00 | n/a |
| VIC | 5.50 | 5.50 |
| SA | 5.50 | 5.50 |
| ACT | 6.00 | n/a |
Red Energy vs Lumo Energy Features
Lumo Energy and Red Energy have an array of features that come exclusive with being a customer. From a rewards program to an interactive mobile app, energy retailers are attracting customers with various incentives. Want to see what Red Energy and Lumo Energy offer? See the table below.
| Feature |  |  |
|---|---|---|
| Monthly Billling | ||
| Bill Smoothing | ||
| Online Account | ||
| Energy App | ||
| Rewards | ||
| Green Power Option | ||
| Carbon Neutral Option | ||
| Internet Bundles |
Red Energy vs Lumo Energy Payment Options
Wondering whether Lumo Energy and Red Energy accepts your preferred billing method? Before you switch retailers, it’s always recommended to check which types of payments are accepted so you don’t run into billing issues.
| Payment Option | | |
|---|---|---|
| Credit Card | ||
| Direct Debit | ||
| Phone | ||
| BPAY | ||
| Post Office | ||
| Centrepay | ||
| Cheque |
Red Energy vs Lumo Energy Renewables
Do Lumo Energy and Red Energy rank high in renewable energy support? Retailers have been transitioning to cleaner sources of energy and promoting their efforts to the public. However, it’s important to see the actual data so you can see if they are as ‘clean’ as they advertise.
Red Energy and Lumo Energy participated in a study that measured their efforts toward sustainability and support for renewable energy. The data shown below was pulled from the Green Electricity Guide (GEG) by Greenpeace.
Both Red Energy and Lumo Energy had the exact same scores for each category. Each retailer owns renewable generation assets and invests in renewable energy. They also excel in mitigating pollution and environmental harm and marketing transparency.
The overall rating given by the Green Energy Guide has Red Energy and Lumo Energy both listed at an above-average 6.6 out of 10.
| Criteria | | |
|---|---|---|
| Providing clean, renewable energy | 6/10 | 6/10 |
| Ending coal use by 2030 | 10/10 | 10/10 |
| Halting fossil fuel expansion | 0/10 | 0/10 |
| Support for new renewable energy | 10/10 | 10/10 |
| Pollution & environmental harm | 10/10 | 10/10 |
| Transparency in marketing | 10/10 | 10/10 |
Red Energy vs Lumo Energy Results
| Categories | Winner |
|---|---|
| Electricity Prices | |
| Solar FiT | |
| Features |  |
| Payment Options | |
| Renewables | |
Should I Switch to Red Energy or Lumo Energy?
There you have it. Both retailers are competitive in their own right, making them both a great choice. In terms of electricity prices, Red Energy currently has more cost-effective plans than Lumo Energy. The same applies to solar feed-in tariffs as Red Energy offers higher rates over Lumo Energy. In the renewable energy sector, both Red Energy and Lumo Energy had the exact same score on the Green Electricity Guide with high marks in nearly every category.
But before switching to either one of these retailers, we recommend phoning us at Electricity Monster on 1300 232 848 and let our energy experts work to find you the best deal we have available.
If you’re worried about overpaying on your energy bill, need a new connection, or just want to switch to a new electricity provider, give us a call at 1300 232 848. At Electricity Monster, we offer various free solutions to help you find a fair deal. Best of all, our comprehensive service is 100% free to use, and our energy experts pride themselves on finding you the best deal we have available. Don’t settle for high rates in this volatile energy climate, call us today and secure the best deal we have available.
Other Reads You Might Like
Disclaimer
This publication reviews Red Energy and Lumo Energy’s plans in VIC, NSW, QLD, SA, ACT, and WA published on their website as of 07/04/2024.
Important Points to note are:
- The plans displayed have been taken from the energy fact sheets published on the retailer's website. We do not guarantee that this information is correct or that it applies to every household in Australia.
- Comparisons have been made on the peak rates in single rate plans from retailers, plus their daily electricity supply charges.
- The Citipower network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in Victoria.
- The Ausgrid network has been used to compare electricity plans, and the Jemena gas network has been used to compare gas plans in NSW.
- The SA Power Networks network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in Victoria.
- The Energex network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in QLD.
- The Evoenergy network has been used to compare electricity plans, and the Jemena gas network has been used to compare gas plans in the ACT.
- The ACTO network has been used to compare gas plans in WA.
- The reference price/VDO/GAS comparison will differ based on tariff type and location (distribution area). Your actual energy bill may be significantly different to these estimates if your usage differs from the average amounts used in this calculation.
- The information in this blog cannot substitute for legal advice. No financial decisions should be made based on information from this blog.
- All dollar figures include GST.
- The plans displayed may be different than advertised.
- The plans offered on this page may not be available in our call center.
- ‘Get Best Offer’ is indicative of the best offer available in our database from our partners
- Data regarding renewable energy was pulled from the publication Green Energy Guide by GreenPeace.Plans from the rate tables have been listed in order of lowest price first. Please check the details of these plans directly with the retailer before making any purchase decisions.
- Electricity plans are now compared to a regulated price called the Victorian Default Offer (VDO). This makes it easier to compare energy plans across the market. The VDO comparison and annual estimate is calculated based on an average usage customer.
- When calculating our rates we include in the price/year estimate the GST (unless otherwise stated), any advertised non-conditional discounts (e.g. guaranteed discount), and any one-off credits.
- What's not included in the price/year estimate are conditional discounts, green energy charges, any concessions or rebates which may apply to you, solar feed-in tariff credits that your solar system could generate.
- The VDO comparison will differ based on tariff type and location (distribution area). Your actual energy bill may be significantly different to these estimates if your usage differs from the average amounts used in this calculation.
Get a $50* Coles or Woolies Voucher
When You Call & Switch Today
- Compare Providers
- 100% Free Service
- Brokered Over 150,000 Deals
Get a $50* Coles or Woolies Voucher
When You Call & Switch Today
- Compare Providers
- 100% Free Service
- Brokered Over 150,000 Deals
Benjamin Tom
Benjamin Tom covers the retail energy market, with a focus on electricity, solar, and Internet. His interests include helping people navigate the complexities of the energy market while saving money on their power bills.