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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 1 April 2020)

Note: The SP Group has set the electricity tariff for this current quarter April to June 2020 at 23.02 cents kWh (before GST).  One retailer Tuas Power Supply offers a low rate of 16.8 cents kWh, which is 27% lower than the SP tariff. 

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 11 licensed electricity retailers? 

The Facts First
The Energy Market Authority (EMA) has, since April 2017, 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 Discount over Tariff, which gives 22% off whatever rates you are paying now.  We have such plans ranging from 6 months to 24 months.
If you are more daring, you go for the fixed price plan, which means you can save 27% over the current rates under the SP Group.  For example, in this current quarter of April to June 2020, the SP rate is 23.02 cents kWh. (before GST)  
One retailer Tuas Power Supply offers a fixed rate of 16.80 cents kWh for plans ranging from 1.5 years to 3 years.  This gives you a saving of 27% off the SP rate of 23.02 centsAll the rates here are before GST.
How much can you save? 
If your monthly electricity bill is $100 you get to save $27 a month or $324 a year.  Over a 3-year period, you get to save almost one thousand dollars or $972.  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 9367 2286 now! Our team of electricity consultants will help you select the plan that saves you the most, plus rewarding you with CASH rebates of $80 (only when you sign up with an agent, for the 3-years plan)



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