News: Comparing electricity prices in Singapore: How much can you save by switching to a more competitive provider?

Dec 27, 2018

Geneco’s 36-month fixed price plan, the Get It Fixed 36, is probably the cheapest plan in Singapore.

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A sea of change has just taken place in Singapore. An open electricity market was launched with effect from November 2018.

This means Singapore households can now choose their own electricity providers instead of having their energy supplied by SP Group by default. There will now be 13 different electricity providers, each offering several plans.

For those who are willing to do their research and pick the most cost-effective plan for their needs, this can translate to cost savings every month.

We’ve done the homework for you and researched the prices being charged by the various electricity companies in Singapore.

Price comparison of 6-month plans

If you are not ready to commit, one option is to try a short 6-month plan, and then sign on to a longer plan afterwards if you are satisfied with the electricity provider. Here are how the various 6-month Fixed and Discount Off The Regulated Tariff (DOT) plans measure up.

Price comparison 6-month plan v2

Price comparison of 12-month fixed price plans

Meanwhile, 12-month plans are suitable if you envisage moving to a new house in under two years or are still unsure as to whether you wish to commit for a longer time. Many electricity retailers offer both fixed price and discount-off-tariff plans.

Price comparison 12-month plan v2

Price comparison of 24-month fixed price plans

Most electricity providers offer 24-month plans that enable you to lock in their rates for two years.

Price comparison 24-month plan v2

Price comparison of 36-month price plans

Longer plans are the most economical option, as you pay less per month than you would on a shorter plan. Many electricity providers offer 36-month plans that enable you to lock in their rates for three years.

Price comparison 36-month plan v2

So which company offers the most inexpensive electricity in Singapore?

Based on the charts above, it appears that Geneco offers some of the most competitively-priced electricity plans in Singapore.

Geneco’s 36-month fixed price plan, the Get It Fixed 36, is probably the cheapest plan in Singapore at 17.88 cents/kWh (inclusive of GST), with average monthly bills estimated at just $74.10*. The plan locks in a fixed rate over a three-year period.

You also enjoy attractive promotions and a generous referral programme when you sign up for an electricity plan with Geneco, which can end up saving you even more money. Here are their current promotions.

Earn through Geneco’s attractive referral programme – With each referral made, both the referrer and the referee receive a reward of $20 each.

Receive cash rebates on your bill – Receive a 1.0% cash rebate on your Geneco bill for the first 12 months when you pay with a UOB credit card. Even better, receive 1.0% cash rebate on your bill throughout your entire contract period when you pay with a POSB Everyday Card.

Get 4,000 LinkPoints – Plus! members who use promo code PLUSGENECO when purchasing the Get It Fixed 36 plan receive 4,000 LinkPoints.

Receive $25 off your bill – Enter XMAS25 when you sign up for any 12-, 24- or 36-month plan and receive a $25 rebate.

Look at your own electricity bill and you’ll no doubt find you can save money by switching to a more competitive electricity provider like Geneco. The sooner you make the switch, the sooner you can start saving money on your electricity bill every month.

*Kindly note that the calculation of the monthly electricity bill is based on an average household electricity consumption of 414.42kWh, which amounts to a SP monthly bill of $107 at existing tariff rate of 25.82 cents/kWh (inclusive of GST).

For more details, kindly visit Geneco’s website.

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Brighten up your life with Geneco!

With no hidden charges and low prices all year round, you can always expect big savings for your electricity bills.  Committed in delivering award-winning customer service and seamless sign up experience, it is easy to see why so many people choose Geneco.

Visit www.geneco.sg to find out more of our compelling power plans.

 

*Prices reflected as of time of writing.

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Eeca Goh
伊可 (Commercial, Industrial & Residential Sales & Leasing)
PROPNEX REALTY PTE LTD
CEA Licence No.:
L3008022J / R020705I
(+65) 8222 8918
(+65) 6100 8861