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Ohm Energy

Having electricity should be simple, easy and low-cost. We operate in efficient and nimble way so you get things done fuss-free.

Ohm Energy

Representative at Ohm Energy Pte Ltd

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Having electricity should be simple, easy and low-cost. We operate in efficient and nimble way so you get things done fuss-free.

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Representative at Ohm Energy Pte Ltd

Ohm Energy

Representative at Ohm Energy Pte Ltd

  • Answers (6)
  • Questions (1)
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Electricity Market

Ohm Energy

Ohm Energy
Ohm Energy, Representative at Ohm Energy Pte Ltd
Level 3. Wonderkid
Answered on 09 Jan 2020
There are a few factors related issues to consider when trying to understand how the electricity price may change over time, they are: - The difference between the wholesale electricity price and the all-in retail price paid by the consumer – The regulated tariff is an example of an all-in retail price. - Fuel cost to the generators – This determines the regulated tariff and thereby contracts that are a discount to the regulated tariff. - Electricity futures market pricing – This affects various fixed price contracts that retailers are offering. (For this portion, you can find out more on our market outlook article that we previously drafted in view of third quarter 2018 - https://ohm.sg/marketoutlook/) When OEM was launched in 2018, retailers are able to offer contracts to consumers that are at a discount (approximately 20%) to the regulated tariff. This may have led to the misconception that SP Services has enjoyed very large margins over the years, which is not the case. When the Singapore wholesale electricity market in opened in 2003, there was concern that generation companies could push up wholesale prices by exercising their market power through withholding capacity. To protect consumers from such instances, the regulator introduced Vesting Contracts in 2004. These contracts require the generators to sell a fixed amount of electricity to SP Services (as the supplier to all non-contestable consumers) at a specified price. This price is based on a pre-determined formula which aims to set the energy-only element of the price for (non-contestable) consumers at the long-run marginal cost of the most efficient generation in Singapore. This calculation is done quarterly, with oil price of the previous quarter as the main driver of price changes (Approximately 2.5 months from the previous quarter for brent oil prices and accounting for the Forex in USD) Almost all (~ 95%) of the electricity in Singapore is produced using natural gas. The price paid for the natural gas is pegged to oil prices, either High Sulfur Fuel Oil (HSFO) or crude oil quoted in London (Brent). Simply put, the oil prices in one quarter determines the gas (fuel) price for generation in the next quarter. By following and analyzing the changes in oil price in one quarter, we can make an educated guess of how the electricity spot price is going to move in the following quarter. For a more detailed read up on this do find more out from our article on "Formation of Electricity Prices outlook: https://ohm.sg/marketoutlook/ If you have more questions, you can write in to us at [email protected](mailto:[email protected]) or drop us a note on our Facebook Messenger. We will be happy to discuss more about the electricity market. #TeamOhm

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Ohm Energy
Ohm Energy, Representative at Ohm Energy Pte Ltd
Level 3. Wonderkid
Answered on 09 Jan 2020
Hi There! Different retailers have different strengths. On the pricing front, there are plenty of competitive pricing between retailers. The spirit of Open Electricity Market (OEM) was to allow residential customers to choose from a suite of electricity product and services that matches accordingly to different consumption patterns. In terms of customer service, reviews and customer care do matters to consumers. Ohm has invested heavily in the service aspect to ensure that we can engage proactively and competently to queries. These can be seen from all social media channels (5/5 stars rating from Google, 4.9/5.0 stars on Seedly, 5/5 stars rating on Facebook & 4/5 stars rating from EMA Consumer Satisfaction Survey) Since the launch of OEM, customers focus alot more on being accountable and transparent in all aspects. Ohm price plans are flexible and competition so different type of customers can choose from the available price plans (contract or no-contract) In Singapore, all generation has to be supplied to the national grid. The grid is operated by SP Group so even with the change, your electricity supply remain reliable. All electricity retailer will have to buy electricity from the wholesale market. More information can be found from www.emcsg.com where the USEP half-hourly prices are available. Electricity retailing can be provided to consumers without a requirement to have a power generation plant. Essentially, the Open Electricity Market is an initiative by the Energy Market Authority (EMA) that allows you to enjoy more choices and flexibility when buying electricity. You can benefit from competitive pricing and innovative offers from retailers. If you wish to know more about the OEM, please feel free to email us at [email protected] or drop us a note on our Facebook messenger. #TeamOhm

Ohm Energy

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Ohm Energy
Ohm Energy, Representative at Ohm Energy Pte Ltd
Level 3. Wonderkid
Answered on 09 Jan 2020
Hi There! Different retailers have different way of billing. Some would come under separate billing from current Singapore (SP) bill while others would come under the same consolidated SP bill. For Ohm, we provide the convenience of a fuss-free approach. a. When you switch to Ohm, your bill will remain on the same consolidated SP bill. b. Your payment arrangement remains the same (That means that if you are currently on GIRO, you do not need to do anything). c. SP does the billing on behalf of Ohm so your payment modes remains the same. You can continue to pay to SP Group as before. d. Your billing cycle and billing date also remains the same so nothing else changes for you. e. For electricity, 65% of your existing security deposit will be held by SP Group on behalf of Ohm. That means that you do not need to fork out additional Security Deposits or do anything at all. The balance 35% of your existing security deposit will remain with SP Group for your water and gas supplies. If you have any questions, please feel free to email us at [email protected] or drop us a note on Facebook Messenger. #TeamOhm

Ohm Energy

Electricity Market

Ohm Energy
Ohm Energy, Representative at Ohm Energy Pte Ltd
Level 3. Wonderkid
Answered on 09 Jan 2020
Hi there! A Carbon Tax is a charge levied on greenhouse gas (GHG) emissions, with the ultimate aim of reducing the volume of emissions produced. The Singapore Carbon Pricing Act of 2018 is a regulation that will come into effect in 2019, requiring certain business activities that generate Carbon Dioxide equivalent GHGs of more than 25,000 tonnes to be liable for a Carbon Tax. Electricity Generation facilities will in all likelihood be liable for the Carbon Tax. This will be a cost that will be factored and passed through into the wholesale price of electricity also known as the Uniform Singapore Energy Price (USEP). Consumers will not be directly liable for any additional carbon taxes on their electricity consumption. Ohm is not directly liable for any Carbon Taxes and does not include the Carbon Tax as a separate line item in our charges. By regulation, retailers are not to pass on carbon tax to residential households. On a side note, there are confusion around what is the carbon offset (CO2) on Ohm's website. Carbon Credits are different from Carbon Taxes. Carbon offset is 100% optional and voluntary. If you would like to go green, you can choose that option - The CO2 credits used in Ohm’s voluntary CO2 Offset Add-on are UN certified and represent one ton of carbon production (or equivalent GHG) decreased through a UN certified project. It costs approximately $0.0054 per kWh inclusive of GST as at today. Let us know if you have any questions. You can write to us at [email protected] or via our Facebook messenger. We will be happy to assist. #TeamOhm

Ohm Energy

Ohm Energy
Ohm Energy, Representative at Ohm Energy Pte Ltd
Level 3. Wonderkid
Answered on 09 Jan 2020
Hi Johnny, Fixed Ohm is similar to a fixed priced contract - This also means that you will be in a contract. Fixed rate means that the price per kWh remains the same throughout the contract period. The revision of the Regulated Tariff will not affect your rate when you are within the contract period. However most household consumption varies so take that monthly consumption multiply by the rate. That gives you your monthly electricity bill. (Consumption in kWh $X) For Market Ohm - Essentially we pass on the energy component and all third party charges to you without any markup. Market Ohm is a no contract price plan so we charge a small monthly fee for the flexibility of the contract. (Market Ohm is Wholesale Market Energy prices + all third party charges + monthly fee) Wholesale rates is also known as the Uniform Singapore Energy Prices (USEP), this is calculated every half-hourly and you can find our more about this at www.emcsg.com 3rd party charges consists of Transmission Licensee's Charges, Market Operating charges and Market Support Service Charges. We do offer a price-cap Option as going on wholesale prices means that you are subjected to price hike. This monthly cap that we offer is optional and can be added to your Market Ohm Price Plan. For less than a cent per kWh, you will never pay more for your electricity than you would have paid on regulated tariff (Energy component only) Let us know if you have more questions. You can reach out to us via our customer care email at [email protected] or via our facebook messenger. #TeamOhm

Ohm Energy

Ohm Energy
Ohm Energy, Representative at Ohm Energy Pte Ltd
Level 3. Wonderkid
Answered on 09 Jan 2020
Hi Lee Kwong Seng, Thank you for your interest in Ohm's Price Plans. Here is a guide for you. It only takes 5 minutes for you to register online. Do have a copy of your most recent SP bill in soft copy. The transfer will take at least 5 business days. 1. Enter your “Household Type”, “Average Monthly Electricity Usage”, “Supply Start Date”. 2. Click on “Calculate” under the plan of your choice (e.g. Fixed Ohm/Ohm Discount), and click“Continue”. 3. Select your preferred “Supply Term” and click on “Start Ohm Now”. 4. Acknowledge the advisory and you will be directed to step 2. 5. Enter your personal and premise details. You are also required to do the required declaration and uploading of your SP bill. Do take note to retrieve your “Premises Address” via the “Retrieve” button after you have entered your postal code. 1. Click on next and you will proceed to step 3. 2. Verify your identity via OTP and then accept required Terms and Conditions before confirming your switch. 3. Your welcome package will then be sent to you via email. Let us know if you have any issues completing the registration via [email protected] or via our facebook messenger. We will be happy to assist! #TeamOhm
Level 3. Wonderkid
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