Asked on 09 Jul 2019
Looking to upgrade to new electrical retailer..either Geneco or Ohm.. but likely going for Geneco. Anyone with special promo codes to share?
Apply early, save early!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I have been using Geneco since the start of 2019.
My take is that instead of pondering over the differences, we should just take action and you will start saving from day 1. Expecting the promos to be lesser soon and rates may start rising as electrical tariffs has just risen in Oct 2020. So please act fast to get the best savings. https://www.channelnewsasia.com/news/singapore/household-electricity-tariff-rise-sp-group-q4-2020-13163120
So, good to quickly take advantage of current fixed rate promos before their prices increase too.
Current Promos: (Updated 18th January 2021) Please find more details of existing promos on the Geneco website below. https://www.geneco.sg/residential/promotions/
Essentially there are 2 different promos codes now which gives the following benefits.
GOLDEN50 $50 off bill rebate. One-time off rebate on your bill. Valid for all plans except Give Us A Try plan and Get It Green plan. Applicable till 28th Feb 2020. Applicable for online sign-ups only and non-SP customers.
GOLDEN70 $50 off bill rebate + $20 Grocery Voucher. One-time off rebate on your bill. Valid for all plans except Give Us A Try plan and Get It Green plan. Applicable till 28th Feb 2020. Applicable for existing SP customers only.
Enjoy an additional S$10 rebate off your Geneco electricity bill when you make recurring payment with a Citi Card. Applicable till 28th Feb 2021. T&Cs apply.
Receive an additional S$20 rebate on your Geneco electricity bill when you charge it on recurring with POSB Everyday Card! Additionally, enjoy 1% cash rebate per calendar month when you charge your electricity bill on recurring with a POSB Everyday Card. No min. spend required. Applicable till 31st Jan 2021. T&Cs apply.
Extra $20 rebates if you enter 97649657 as your referral code.
Recommend to go for Option 2 and Option 3 if your bills are on average $90.. 1% rebates on 90 bucks for 12 months would be about $10.80 savings already, plus a further $20 startup rebate for you. I am using these options personally. Plus about 23% discounts off SP Electricity tariffs rate.
Electricity is maintaining at high levels or going up so would recommend the fixed price offer, but decision is solely up to you. Markets are unpredictable. Oil and gas prices are low, but in Singapore, price usually increase faster than for it to come down from past experience. Better act fast! Tariffs went up! Not sure current offers will remain for how long.
Sign up online is easy and hassle free. So far prices have been the better ones and no false marketing like displaying the price without gst. August 2020 deals even better at 17.66c/kwh for 2 year fixed rate plans.
Right now, the electricity tariffs are higher at 22.93c/kWh after GST from 1 Oct-31 Dec 2020 compared to 19.6c/kWh after GST from 1 Jul-30 Sep 2020. Effective rate after 23% discounts for fixed and discounts over tariff plans are currently similar at around 17.66c/kWh. However, there may be no guarantees that the rate will not increase in future (or decrease), although inflational pressures are typically at play over time. The avg 5 year tariffs are at about 23.13c/kWh (Oct 2015-2020). Nevertheless, switch over now without hesitation as every day delayed is costlier than waiting to get a slightly better deal in future.
Referral code: 97679963 (both of us will get $20 rebate)
Updated Promo code 20 Jan 2021!
1) promo code = GOLDEN50 for $50 off bill rebate for non SP customers or GOLDEN70 ($50 off bill + $20 grocery voucher for SP customers). Valid for Get It Fixed 36 / Get It Fixed 24 / Get It Less 24 or Get Sunny Plans. Applicable till 28 Feb 2021.
2) 1% rebate for recurring payment with POSB Everyday card. On top of this, there is S$20 rebate for recurring payment. Applicable till 31 Jan 2021. Limited to the first 100 new online sign-up customers
3) 1% rebate for recurring payment with UOB card for 12 mths. (Promotion Ended)
4) $30 rebate for recurring payment with OCBC 365 credit card. Promo valid till 31 Oct 2020. Limited to the first 500 customers. Plus, enjoy 3% cashback monthly when you pay your electricity bill on recurring with an OCBC 365 Credit Card. Min. spend of S$800. Cashback capped at S$80/month. (Promotion Ended)
5) S$10 rebate for recurring payment with a Citibank Card. Applicable till 28 Feb 2021.
6) Enjoy up to S$200 bill rebate when you apply and spend AMEX card. Applicable till 31 Oct 2020. (Promotion Ended)
Review: I have been using Geneco since January 2019. The reasons why I chose Geneco:
1) They are very transparent in terms of price, no transmission loss charges, carbon tax absorbed, no hidden cost, no deposit required
2) They do a price match if you signed up for their 2 yrs plan. I emailed them to price match, and they responded fast- good after sales customer service
3) The bill is easy to read, simple, straightforward. My usual electricity bill is around $70. My current bill (based on entire cycle with Geneco) comes up to $44. This is 37% less than the average of $70. The bill has been quite stable as well, $40+ for the past few months.
4) They are one of the main providers and thus reliable. I would personally recommend the 2 years plan! Total possible rebate= $70 (GOLDEN70) + $20 (Referral 97679963) + $10 (Citibank recurring) = $100. A really good deal! :)
♥💡🍻*Updated 28 Jul promo! 🍻💡♥
Referral code: 90287785 (both of us will get $20 rebate) 😍
Tariff is going up 6.4% in Jul 19! Switch now to avoid the high tariff!!
Pls support me if you find this helpful! :) i will greatly appreciate it!
1) “GET68” for $68 off for Get It Fixed 36 / Get It Fixed 24 / Get It Less 24 / Get Free Sundays or Get Sunny plan.
2) “GET30” for $30 off bill for Get It Green Plan only
3) “PLUSGENECO” for 4000 link points for Get It 36 Plan only
4) $40 for recurring payment with amex credit card!
5) $50 for recurring payment with standard chartered credit card!
6) 1% rebate for recurring payment with POSB card
7) 1% rebate for recurring payment with UOB card for 12 mths.
😊Review😊: I have signed up the 24months plan with Geneco. For the past 4 months, our bill shows a great difference. It is around 30-40% cheaper! We recommended our friends to Geneco and I encouraged them to make comparison. I was sure that they will still go with Geneco after comparison, and they did :)
Other points that attracted me-
•The bill is easy to read, simple, straightforward.
•They are one of the main providers and thus reliable.
•No deposit is required whereas some companies require deposit (note: SP will refund u the portion of deposit for electricity)
•No hidden fees (which is very crucial to me as I prefer transparency)
•No disruption during the switch over and it was hassle free.
•They do price match for 24 months plan. Thus, you get the best of both world, cheapest price + good reputation.
•If you have any query, feel free to ask me. You may PM me if you need advice on how to do the price match. I got mine! :)
I hope the above helps :)
Have walked through roadshows and read many online reviews; Geneco seems to be of best value and reliability among all the companies. Plus, they have price match to make sure you really get the best deal.
I started in May 2019 and there was no disruption throughout the whole process. Since then, the savings on electricity per month have been a whopping ~30%.
Use "98592891" and "STACK50" upon online sign up for immediate $70 off!! PROMO CODE UPDATED
Promo amount has been steadily dropping. The best time to sign up was yesterday. The next best time is now
Certain credit cards also offer rebates
Apply soon as foreseen promotion will be lesser and back to more competitive price comparable to SP Power!
You can use my referral code 81233356 for extra $20 rebates! (Both of us will get $20 each)
I have switch for 2months plus on 24months fixed rate contract. The bill definitely lesser, saving of $20-30 a month! Apply for recurring payment on UOB credit card, you will get addidtional rebates too! Overall, the savings are quite significant in the long run! Here is the updated promotion:-
Use OHM is better, easy billing, fuss-free and saves a lot of $!
Helped me to save a lot of money.. the tarriffs now has gone up a lot, so my fixed plan signed up back in Jan 2019 is still at a much lower rate of 16.8 cents / kWh. Use my referral code OHMREFAFED91 for instant $20 OFF