I keep forgetting that a 300 watt light is a 300 watt like whatever it is. But LEDs are usually lower wattage for the same light output.Not much difference. 400w Metal Halide v 300W LED I would say.
That is a saving of around £35 a year based on 30 hours a week run time. They cost £130 so break even in around 4 years not allowing for fitting costs etc.