Lumo Energy
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| Private | |
| Industry | Energy |
| Founded | June 2010, Victoria Electricity (May 2002), South Australia Electricity (May 2005), Queensland Electricity (May 2005) and NSW Electricity (August 2006) |
| Headquarters | Level 3, 565 Bourke St Melbourne VIC 3000 |
| Products | Gas and Electricity |
| Parent | Snowy Hydro |
| Website | www.lumoenergy.com.au |
Lumo Energy is an Australian energy retailer wholly owned by Snowy Hydro and serving Victoria, New South Wales, South Australia and Queensland. It commenced retailing electricity in February 2004 under the name Victoria Electricity and has grown organically to almost 500,000 customers with electricity and gas packages in Victoria and New South Wales, and electricity packages in Queensland and South Australia.[1]
Victoria Electricity secured its electricity retail licence for the state of Victoria in August 2002 and started retailing electricity in February 2004. A licence for the retailing of gas in Victoria was granted in December 2004 and Victoria Electricity commenced retailing gas in early 2005.
History
Infratil registered Victoria Electricity in 2002 and secured its electricity retail licence for the state of Victoria in August 2002. Victoria Electricity started retailing electricity in February 2004, a licence for the retailing of gas in Victoria was granted in December 2004 allowing Victoria Electricity to begin retailing gas in early 2005.
In May 2005, Infratil registered South Australia Electricity and Queensland Electricity, and NSW Electricity in August 2008. Lumo Energy was formed in June 2010. It currently provides energy to almost 500,000 customers and employs just under 500 people.
All of the markets that Lumo Energy are involved in are part of Australia’s National Electricity Market (NEM).[2] The NEM facilitates exchange between electricity providers and consumers through a gross pool where output is aggregated and planned to meet consumer demand. This method allows for sophisticated pricing structures and rolling blackout arrangements to ensure security of supply regardless of consumer demand.
In 2010, the Queensland Competition Authority found Lumo Energy had the highest rate of unresolved complaints amongst the state's electricity retailers.[3]
In 2011, Lumo Energy lost a court case involving a customer whose gas and electricity were cut off over a $4,000 debt. According to the Essential Services Commission, Lumo Energy sent the customer an initial letter which failed to mention separate disconnection periods for gas and electricity notices as required by law.[4] In July 2011, Lumo Energy partnered with American Express to offer the Lumo Express product. In September 2011, Lumo Energy partnered with the Velocity Frequent Flyer program to offer the Lumo Velocity product.
In 2013, Lumo Energy made changes to enhance the experience for consumers interacting with them, by re-branding their website and refreshing their customer communications. Lumo Energy also reported progress in the reduction of Ombudsman complaints, with a 53 per cent decrease in complaints received in June 2013 when compared with the complaints received in June 2010.[5] In August 2013, Lumo Energy was awarded the number one position for Electricity in the Roy Morgan Customer Satisfaction Awards.
In 2014, Lumo Energy was sold by Infratil, along with Direct Connect, to the government-owned Snowy Hydro for $600 million.[6]
Green Services
Lumo Energy also offers its customers the option of accredited GreenPower, which is clean, renewable energy. This offer is for upto 10% of electricity used only.[7]
See also
References
- ↑ About Lumo Energy. Lumo Energy. Retrieved on 31 January 2012.
- ↑ Lumo Energy: Profile. Infratil. Accessed 23 August 2010.
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- ↑ Media release: a new look for Lumo Energy. Lumo Energy. Retrieved on 22 August 2013.
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