Changes to prices


6 June 2024

Our prices are changing for residential and small business customers on standard retail and market retail contracts.

For more information, please read our FAQs below.

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FAQs

When are my prices changing?

Energy Contract Location Price change date
Standard retail contractVIC, SA1 July 2024
Market retail contractSA1 July 2024
Market retail contractVIC1 August 2024

Customers who have a contract term with a fixed rate period (for their daily supply charges and energy usage rates) will not have a price change during the fixed rate period specified in their market retail contract. Customers will be notified in writing before their contract term is due to expire.

What is a market retail contract?

A market retail contract contains minimum terms and conditions as well as other specific terms and conditions relevant to your offer, such as pricing, benefits and duration of contract. This contract has different terms and conditions to a standard retail contract.

What is a standard retail contract?

A standard retail contract contains a set of regulated terms and conditions. Our electricity pricing under a standard retail contract must be no higher than the Default Market Offer in SA and equal to the Victorian Default Offer in VIC. This contract has different terms and conditions to a market retail contract.

How will I be notified about the price change?

We will notify you in writing in advance of any change to your energy prices.

Why are my energy prices changing?

We typically review our prices every year in line with movements in our costs of supplying energy to you.

What makes up my energy prices?

Wholesale Costs

Energy retailers incur costs when they purchase electricity and gas from generators and producers to retail it to customers.

Network Costs

Network costs are the costs of transporting electricity and gas to your house. These costs include the cost of building, maintaining and operating the natural gas pipelines and electricity poles and wires that transport energy to your home or business.

Environmental Costs

Environmental costs are incurred by energy retailers to comply with government programs designed to provide incentives for energy efficiency and to support the development of renewable electricity.

Retail Operating Costs and Margin

Your electricity and gas prices include retail operating costs, including managing billing and payments and for the full range of customer services we provide, and a retail margin.

I’ve got solar. Are feed-in tariff (FiT) rates changing?

We will notify you in writing in advance of any changes to your solar feed-in tariffs.

What support does Lumo offer customers finding it difficult to pay?

Lumo offers a range of options to assist customers who are facing payment difficulties. See here for our assistance options.

Who can I contact if I have any questions?

Phone 1300 115 866

Monday to Friday 8.00am to 8:00pm. Saturday 8.00am to 5:00pm (AEST/AEDT)

Or to make an online enquiry visit our website.

Victoria

What is the Victorian Default Offer?

The Victorian Default Offer is determined annually by the Essential Services Commission and regulates standing offer prices for electricity in Victoria sold to domestic (residential) and small business customers on a standard retail contract.

For most customers who are on a market retail contract, the Victorian Default Offer acts as a comparison price. Energy retailers must compare their market retail offers to the Victorian Default Offer prices when advertising.

You can find the Victorian Default Offer for 2024-2025 here.

How can I find information on the Victorian Default Offer?

For more information on the Essential Services Commission and the Victorian Default Offer please visit here.

When will my electricity prices change?

For customers on a market retail contract, your electricity prices will only change once a year unless otherwise permitted by the regulations. This usually occurs on or around 1 August each year.

For customers on a standard retail contract, your prices will only change once a year for electricity unless stipulated otherwise by the regulations. This usually occurs on or around 1 July each year.

South Australia

What is the Default Market Offer?

The Default Market Offer is a maximum electricity price that retailers can charge customers on standard retail contracts and is set by the Australian Energy Regulator for customers in NSW, SA and QLD.

The Default Market Offer also acts as a comparison price for customers who are on a market retail offer.

You can find the Default Market Offer for 2024-2025 here.

How can I find information on the Default Market Offer?

For more information on the Australian Energy Regulator and the Default Market Offer please visit here.

When will my electricity prices change?

The Australian Energy Regulator (AER) conducts an annual review of the Default Market Offer (DMO) on 1 July annually. Around this time, we will also be reviewing our variable electricity and gas rates, however, rate changes may occur at different times. We will advise our customers of any changes to their rates prior to their occurrence via letter or email.

For customers on a market retail contract, your prices will typically change once a year for electricity. This usually occurs on or around 1 July each year.

Are my concession entitlements changing?

No. There are no changes to concession entitlements.

Where can I find more information on concessions and government rebates?

Each State Government provides a variety of concessions and rebates. For more information click on the below link

SA – Concessions and Rebates