Damon Mcknight
Lumo Energy is an Australian-owned energy company that offers electricity and gas plans across Victoria and South Australia. It is a retail subsidiary of Snowy Hydro Ltd, one of Australia's largest and oldest renewable energy generators. Lumo Energy provides 24/7 self-service support for its customers and offers access to Lumo Rewards, which provides discounts and vouchers from various retailers. While Lumo Energy has made strides in improving customer satisfaction, it has faced criticism for its lack of transparency in energy sources and renewable credentials.
| Characteristics | Values |
|---|---|
| Owner of Lumo Energy | Snowy Hydro Ltd |
| Snowy Hydro Ltd | One of Australia's largest and oldest renewable energy generators |
| Year of acquisition of Lumo Energy by Snowy Hydro Ltd | 2014 |
| Previous owner of Lumo Energy | Infratil |
| Sale price | $600 million |
| Retail subsidiaries of Snowy Hydro | Red Energy, Lumo Energy |
| Area of operation of Lumo Energy | VIC, SA |
| Percentage of customers filing complaints | 2.1% |
| Average wait time for calls | 51 seconds |
| Percentage of calls abandoned | 2.9% |
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What You'll Learn
Lumo Energy is owned by Snowy Hydro Ltd
Snowy Hydro maintains the Snowy Mountains hydroelectricity scheme and delivers one-third of the total renewable energy to the National Electricity Market (NEM). The company operates three gas-fired power stations and is building another.
Lumo Energy is a retail subsidiary of Snowy Hydro, offering electricity and gas plans across Victoria and South Australia. Lumo Rewards™ is a program available to Lumo Energy customers in South Australia, providing discounts and vouchers from various retailers.
While Lumo Energy is owned by a renewable energy generator, it does not share the same renewable credentials as Snowy Hydro. Lumo offers lower-than-average prices on GreenPower offsets, but its feed-in tariffs are lower than those of other providers. The company has not disclosed its position on investment in coal and coal seam gas.
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Snowy Hydro is one of Australia's largest renewable energy generators
Lumo Energy is owned by Snowy Hydro Ltd, one of Australia's largest and oldest renewable energy generators. Snowy Hydro has been generating on-demand, reliable energy for almost 70 years. The company owns, manages, and maintains the Snowy Mountains Hydro-electric Scheme, which consists of 16 power stations with a generating capacity of over 5,500 MW across New South Wales, Victoria, and South Australia.
Snowy Hydro's portfolio includes nine hydroelectric power stations and sixteen large dams interconnected by 145 kilometres of tunnels and 80 kilometres of aqueducts, primarily within Kosciuszko National Park. Additionally, they own and operate three gas-fired power stations, with another one under development, and three diesel power stations in South Australia. Snowy Hydro also owns two electricity retailing businesses, Red Energy and Lumo Energy.
Snowy Hydro is committed to investing in renewable energy projects, such as the Snowy 2.0 initiative. This project aims to link two existing dams, Tantangara and Talbingo, through a network of tunnels and a new underground power station. By pumping water between the upper and lower dams based on energy demands, the project will provide an additional 2,200 megawatts of dispatchable, on-demand generating capacity. This initiative will also offer approximately 350,000 megawatt hours of large-scale storage to the National Electricity Market, enough to power three million homes over a week.
Snowy Hydro's renewable energy projects demonstrate their commitment to sustainability and Australia's transition to a low-carbon future. The company's initiatives aim to maximize the efficiency of renewables, lower electricity prices, and create job opportunities in regional Australia.
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Lumo Energy is not carbon neutral
Lumo Energy is owned by Snowy Hydro Ltd, an Australian company and one of the country's largest and oldest renewable energy generators. However, Lumo Energy is not carbon neutral.
Lumo Energy was sold to Snowy Hydro in 2014 by Infratil for $600 million. Despite being owned by a renewable energy generator, Lumo Energy's operations are not entirely carbon neutral. This discrepancy can be attributed to the fact that Snowy Hydro sources its power from the National Electricity Market (NEM), which is a mix of electricity generated from various sources, including fossil fuels. As a result, the electricity supplied by Lumo Energy is not necessarily from renewable sources, and the company has not committed to carbon neutrality.
Lumo Energy offers a lower-than-average price on GreenPower offsets and has equitable solar offers for its customers. However, its feed-in tariffs are lower than those of other energy providers, and it does not offer competitive GreenPower options. Lumo Energy's energy sources were also found to lack transparency in a 2020-21 survey. The company has not made its position on investment in coal and coal seam gas public, contributing to uncertainty about its environmental commitments.
While Lumo Energy has taken steps to improve customer relations and satisfaction, its progress towards carbon neutrality remains unclear. The company has implemented a carbon footprint test for Lumo homes, which takes into account construction, heating, electricity consumption, and the use of saunas and cars. However, there is no indication that Lumo Energy has extended this test or similar initiatives to its business operations.
In conclusion, despite being owned by a renewable energy generator and offering some green energy options, Lumo Energy is not carbon neutral. The company's reliance on the NEM, which includes fossil fuel sources, and its lack of transparency about energy sources and investments, contribute to concerns about its environmental stance. Lumo Energy's efforts to enhance customer satisfaction may be positively received, but they do not address the critical need for a clear and robust commitment to carbon neutrality in the energy sector.
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Lumo Energy has a rewards program for customers
Lumo Energy is owned by Snowy Hydro Ltd, an Australian-owned company and one of the country's largest and oldest renewable energy generators.
Lumo Rewards also provides customers with bonus credits on signup and for every bill paid on time. These credits expire 12 months after receiving them. In addition, new customers who sign up for the Lumo Plus plan can receive a $25 credit for Lumo Rewards, as well as $50 worth of credit for each quarterly or three successive monthly bills paid on time.
Lumo Energy also offers natural gas-only plans that closely mirror its electricity-only offers. These plans include the Value plan, which allows customers to fix their gas rates until 31 January 2025, with free standard gas moves including connection and disconnection.
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Lumo Energy has affordable rates
Lumo Energy is an Australian-owned company, having been sold to government-owned Snowy Hydro in 2014. As a subsidiary of Snowy Hydro, an Australian energy generation and retailing company, Lumo Energy offers a range of electricity and gas plans with affordable rates.
Lumo Energy operates in Victoria and South Australia, providing customers with access to lower-than-average prices on GreenPower offsets and competitive solar offers. In fact, Lumo Energy's rates are up to 23% less than the reference price, making it an attractive option for those looking to save on their energy bills.
One of the ways Lumo Energy maintains its competitive rates is through its Lumo Rewards™ program. This program offers customers exclusive discounts on groceries, fuel, and more, further contributing to the affordability of choosing Lumo Energy as your energy provider. The program also includes EvenPay®, which allows customers to take control of their energy bills with interest-free installments and flexible payment options.
In addition to its competitive rates, Lumo Energy also provides 24/7 self-service support for its customers. This ensures that any queries or concerns can be addressed promptly and at the customer's convenience. Lumo Energy has also shown improvement in customer satisfaction over the years, with a 53% reduction in Ombudsman complaints between June 2010 and June 2013.
While Lumo Energy offers affordable rates and incentives, it is important to consider other factors when choosing an energy provider. Lumo Energy has faced criticism for its lack of transparency in energy sources and has a history of unresolved customer complaints. Therefore, while price is a significant factor, it is worth researching other aspects of the company before making a decision.
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Frequently asked questions
Yes, Lumo Energy is Australian-owned. It is owned by Snowy Hydro Ltd, one of Australia's largest and oldest renewable energy generators.
Lumo Energy operates in Victoria and South Australia.
The Lumo Rewards™ program gives customers access to discounts on groceries, fuel, and more.
Lumo Energy is not the best choice for solar customers as its feed-in tariffs are lower than those of other energy providers, and it does not offer great GreenPower options.
Lumo Energy has had issues with customer satisfaction in the past, with the Queensland Competition Authority finding that it had the highest rate of unresolved complaints among the state's electricity retailers in 2010. However, the company has since made improvements, reporting a 53% reduction in Ombudsman complaints in June 2013 compared to June 2010. In August 2013, Lumo Energy was awarded the number one position for electricity in the Roy Morgan Customer Satisfaction Awards.
