Virtual machine (VM) migration enables cloud service providers (CSPs) to balance workload, perform zero-downtime maintenance, and reduce applications' power consumption and response time. Migrating a VM consumes energy at the source, destination, and backbone networks, i.e., intermediate routers and switches, especially in a Geo-distributed setting. In this context, we propose a VM migration model called Low Energy Application Workload Migration (LEAWM) aimed at reducing the per-bit migration cost in migrating VMs over Geo-distributed clouds. With a Geo-distributed cloud connected through multiple Internet Service Providers (ISPs), we develop an approach to find out the migration path across ISPs leading to the most feasible destination. For this, we use the variation in the electricity price at the ISPs to decide the migration paths. However, reduced power consumption at the expense of higher migration time is intolerable for real-time applications. As finding an optimal relocation is $\mathcal {NP}$-Hard, we propose an Ant Colony Optimization (ACO) based bi-objective optimization technique to strike a balance between migration delay and migration power. A thorough simulation analysis of the proposed approach shows that the proposed model can reduce the migration time by $25\%$–$30\%$ and electricity cost by approximately $25\%$ compared to the baseline.