Open Electricity Market - Which is the Best Electricity Retailer in Singapore?

You've probably heard and seen many articles with regards to the open electricity market launch in Jurong. With 14 electricity retailers to select from, the choice gets tougher when you have to decide between the various plans that each retailer offer. Prices also fluctuates pretty much against competition — your friend may have gotten a very good plan at the start of April with a particular retailer but this plan may no longer exist.


Image credit: https://www.openelectricitymarket.sg/home

Image credit: https://www.openelectricitymarket.sg/home

Image credit: https://www.openelectricitymarket.sg/home

How many electricity retailers are there and who are they?

The 14 retailers are:

What plans can I select from?

There are 3 standard price plans that you can choose from:
a. Fixed Price Plan - Pay a fixed rate throughout a chosen terms (e.g 6, 12 or 24 months)
b. Discount Off the Regulated Tariff Plan  (Enjoy percentage off the Regulated Tarriff (updated quarterly))
c. Peak and Off-peak Plan (Pay more during peak period within a stated time, and lesser during non-peak period which is usually night time).

Fixed Price Plan, Discount Off Regulated Tariff Plan or Peak/off-peak plan?

The first step is to decide which type of plan would suit you most. No matter what calculations I did, I found that the 'discount off regulated tariff plan' isn't as worth it as the rest UNLESS electricity tariffs from SP becomes really low (i.e. $0.192), and I can't be certain about getting that price. The fixed price plan makes the most sense to me because I do not have to constantly monitor on the prices. Long term fixed rates make the most sense in terms of value and time savings!

Fixed Rate Electricity Price Compare

RetailerFixed Rate (per kWh)FR Contract DurationReferral Programme?Other promos
iSwitch0.162724 months
Sembcorp Power0.16324 monthsFree 2 Months
SENOKO ENERGY0.163524 monthsFree 3 Months
Best Electric0.163824 months
Keppel Electric0.16524 months
Sembcorp Power0.16512 monthsFree 2 Months
RedDotPower0.167824 months
Keppel Electric0.16812 months
GENECO0.16824 months
Ohm0.169512 months$20 OFF
iSwitch0.1712 months
RedDotPower0.171812 months
iSwitch0.1736 months
Best Electric0.17512 months
Sun Electric0.1756 months
Diamond Electric0.1888
Tuas Power0.19424 months
Ohm (Simple)0.1535 + $10 (extra $10 fee)N/A
Table updated as of 24th April 2018

Write in to littletinysun@gmail.com if you see any price changes in fixed rates so that we can keep everyone updated! :)
Open Electricity Market - Which is the Best Electricity Retailer in Singapore? Open Electricity Market - Which is the Best Electricity Retailer in Singapore? Reviewed by Shermaine Lau on 7:54:00 PM Rating: 5

No comments

Nuffnang