Electricity Price Comparison Singapore 2024

Electricity Price Comparison Singapore is a comprehensive guide to help Singaporean consumers make informed choices when it comes to selecting their electricity service providers.

With the introduction of the Open Electricity Market (OEM) initiative, consumers now have the freedom to choose their preferred electricity retailer, and this guide is here to simplify the decision-making process.

Electricity Price Comparison

In Singapore, the Open Electricity Market has been operating for several years, giving consumers the flexibility to select their electricity retailer.

However, with a multitude of retailers offering various pricing models, it can be overwhelming to choose the right plan. Here’s a step-by-step guide to help you make an informed decision.

Cheapest 6 Months Electricity Price Comparison Singapore

For those looking for short-term contracts, a 6-month fixed price plan can be a viable option. Historically, these plans used to offer the cheapest rates, but now, the most affordable options come from 24-month plans.

However, if you’re new to the OEM, a 6-month plan can help you ease into the process. Here are some of the cheapest 6-month fixed price plans:

Cheapest 12 Months Electricity Price Comparison Singapore

For consumers looking for slightly longer contracts, 12-month fixed price plans offer competitive rates. Here are some of the most affordable 12-month fixed price plans:

Cheapest 24 Months Electricity Price Comparison Singapore

If you prefer the longest contracts with the best electricity rates, 24-month fixed price plans are your best option.

These plans provide stability in pricing and cost savings in the long run. Here are some of the cheapest 24-month fixed price plans:

It’s important to note that the cheapest electricity retailers and plans can change, so it’s advisable to stay updated with the latest pricing information.

Know also about SP Group Electricity Rate in Singapore

Which is the Cheapest Electricity in Singapore?

The cheapest electricity provider in Singapore depends on your specific needs and preferences.

Whether you opt for a short-term, 12-month, or 24-month plan, there are options available to suit different consumer requirements.

How to Choose the Best Electricity Service in Cheap Price

To choose the best electricity service at an affordable price, follow these steps:

• Choose your plan: Decide if you prefer a fixed rate or a discount off the standard price. Some companies offer other options too.
• Pick your contract length: Choose how long you want to commit, from 6 months to 3 years.
• Compare prices: Look at different companies and pick the plan that fits your needs and budget.

Picking an Electricity Retailer in Singapore

Picking the right electricity provider in Singapore can have a big impact on your bills. With lots of options in the Open Electricity Market (OEM), it’s important to choose wisely. Here’s how:

Decide on the Pricing

First, choose if you want a fixed rate or a discount off the standard price. Some companies also have other plans, so think about what works for you:

• Fixed Rate: Pay the same price for each unit of electricity throughout your contract, no matter what.
• Discount Off Regulated Tariff: Get a set discount off the regular price, which can change every quarter.

Choose How Long

Providers offer contracts of different lengths. Here’s what to consider:

• Short-Term (like 6 months): Good for testing the waters without a long commitment.
• Medium-Term (like 12 months): Longer commitment with competitive rates.
• Long-Term (like 24 months): Most economical rates, with stability and savings.

Compare Prices

Once you know what pricing and contract length you want, compare prices using the official comparison tool.

It helps you estimate your bills and compare providers based on your home, how much you use, and your pricing preference.

Extra Tips

• Prices can change, so keep an eye out for updates.
• Look into other plans, like peak and off-peak pricing or bundled discounts.
• Consider using a cashback credit card that gives rewards for electricity bills.
• Your choice depends on your needs, habits, and budget.

All Electricity Company Contact Information in Singapore

To obtain detailed information about electricity providers and their plans, it’s essential to contact the respective companies directly or visit their official websites.

Additionally, you can explore their non-standard plans, such as peak and off-peak pricing, cash rebates, free gifts, and bundled product discounts.

Here is the contact information for various electricity retailers in Singapore:

Geneco

• Address: 450 Alexandra Road, #01-01, Singapore 119960
• Phone: 6363 6677

Union Power

Headquarters

• Address: 1525 North Rocky River Road, Monroe, NC 28110
• Phone: 704-289-3145 | 800-922-6840

District Office

• Address: 474 South Main Street, Oakboro, NC 28129
• Phone: 704-485-3335 | 800-922-6840
• Report an Outage: 800.794.4423

Keppel Electric

General Enquiry

• Phone: 6803 3000
• Email: [email protected]
• Address: 3 Fusionopolis Way, #14-21 Symbiosis, Singapore 138633

Sales Enquiry

• Phone: 6803 3888

Senoko

Sales Enquiry

• Local: 1800 688 8888
• Overseas: +65 6750 0333

Customer Support

• Local: 1800 688 8888
• Overseas: +65 6750 0333

Pacific Light

Customer Service Hotline

For both residential and business electricity account inquiries, the opening of electricity accounts, billing and payment-related matters, and meter issues.

Call or WhatsApp: +65 6266 1188

Electricity Supply Interruption

If you experience an electricity supply disruption, please call the SP Group Electricity Service Centre 24-hour hotline.

Call: 1800 778 8888

PacificLight Headquarters

For corporate matters Call: +65 6603 5959

Transmission Loss Factor

The Transmission Loss Factor (TLF) used to complicate electricity billing in Singapore, but most retailers have now standardized their billing calculations to remain competitive.

This simplifies the billing process, ensuring consumers no longer need to perform complex calculations to determine electricity costs.

In general, billing according to the metered reading is simpler and cheaper than loss-adjusted billing, as it does not involve hidden charges.

FAQs For Comparing Electricity Prices in Singapore

Here are some frequently asked questions and answers related to Electricity price comparison in Singapore.

What is the Open Electricity Market (OEM) in Singapore?

The Open Electricity Market (OEM) is a Singaporean initiative that allows consumers to choose their preferred electricity retailer, offering them flexibility in selecting electricity plans and pricing models.

How do I decide between a fixed rate plan and a discount off the regulated tariff?

Consider your preference for price stability.

Fixed rate plans provide a consistent rate per kWh, while discount off the regulated tariff plans offer savings relative to SP’s rate, but the price may fluctuate with SP’s quarterly changes.

Are there any non-standard pricing plans available?

Yes, some retailers offer non-standard plans, such as “peak and off-peak” pricing, cash rebates, free gifts, and bundled discounts. These cater to different consumer profiles, so it’s worth exploring them.

What is the significance of the contract duration?

The contract duration determines how long you’ll commit to a specific plan.

Short-term contracts, like 6 months, are more flexible, while longer contracts, like 24 months, often offer more competitive rates. Choose a duration that suits your preferences.

How do I compare electricity retailers in Singapore?

You can use the official OEM comparison tool, which lets you estimate your electricity bills and compare providers.

Input information about your residence type, average consumption, and pricing model preference to get tailored recommendations.

Can I switch my electricity retailer at any time?

You can switch your electricity retailer at any time during your contract’s notice period. Be sure to check the terms and conditions of your current plan to avoid early termination charges.

Do different retailers offer the same electricity sources and quality of service?

Yes, the electricity supplied to your home remains consistent regardless of your chosen retailer. The difference lies in pricing models, rates, and additional services offered.

Can I use a cashback credit card to pay my electricity bills?

Yes, many retailers allow you to set up recurring payments to your credit card of choice.

However, not all credit cards offer cash rebates for electricity bills, so it’s essential to choose one that explicitly mentions electricity bills as a cashback category.

Conclusion

Choosing the right electricity provider in Singapore involves considering factors like contract duration, pricing model, and specific consumption patterns.

By comparing the available options and staying informed about the latest rates and promotions, you can make an informed decision to save on your utility bills.

Additionally, it’s essential to explore non-standard plans and consider cashback credit cards that offer rebates for your electricity bills to maximize your savings.