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31 Oct 2018

Open Electricity Market: Which Company has the Best Rates? How Much Can I Save in 3 Minutes?

(updated on 21 May 2019)
The question on everybody's lips is: how much can I really save when I switch my electricity supply from the current SP Group to any of the 12 licensed electricity retailers? 

The Facts First
The Energy Market Authority (EMA) has, since April 2018, been progressively opening up the retail electricity market, referred to as the Open Electricity Market (OEM). The purpose is to bring about competitive pricing for the benefit of all consumers.  NOW THE WHOLE SINGAPORE IS OPEN. 

From 1 May 2019 onwards, everyone is eligible to switch as the market is now fully opened for all. 

Reason To Switch: Save Money
You save guaranteed and confirmed 22% if you opt for the DOT plan (Discount over Tariff), which gives 22% off whatever rates you are paying now.  We have DOT plans ranging from 3 months to 24 months.
If you are more daring, you go for the fixed price plan, which means you can save 27% or more over the current rates under SP Group.  For example, in this current quarter Apr to Jun 2019, the SP rate is 22.79 cents kWh.  
One retailer Keppel Electric offers a fixed rate of 16.71 cents kWh for a 3 years contract, this gives you a savings of 27% off the SP rate of 22.79 cents.  For 2-years contract, the rate is at 16.80 cents kWh, giving you a savings of 26% over the SP rate of 22.79 cents.  All the rates here are before GST.
How much can you save? 
If your monthly electricity bill is $110 you get to save $30 a month or $360 a year.  Over a 3-year period, you get to save $1,080.  All it takes is just 3 minutes! 

Note: 
To know how to switch, email to me Andy at andythecoach@gmail.com or text to me at 9729-1864 now! Our team of electricity consultants will help you select the plan that saves you the most, plus rewarding you with CASH rebates totalling $83



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