This might feel intuitively plausible but it really isn't. In the lifetime of a 60W incandescent bulb here (1000 hours) it would use £15 of electricity whereas an LED which produces significantly more light would cost about £2.25 over the same 1000 hours. So even if incandescent bulbs were literally free and the LED lamp costs £10, the LED lamp is a significant saving even if it didn't last longer.

If your LED lamps die much sooner than you expected, consider overheating. Unlike the incandescent which is designed to run hot because it's literally incandescent lighting, it is so incredibly hot that it glows white, LEDs don't like heat. If you have a fixture where the hot air is trapped next to the lamp it will reduce lifespan, consider different fixtures when they're next replaced, or placing lamps where heat would naturally be drawn away. Flaky power can be a problem but (presumably) there isn't much you can do about that, whereas overheating is very much an interior design choice that you can influence.