Anonymous
The electricity retailers are providing really low rates! I'm wondering if we've been cheated by SP all this while.
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Nicholes Wong
06 Jul 2019
Diploma in Business Management at Nanyang Polytechnic
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Gabriel Tham
05 Jul 2019
Tag Team Member at Kenichi Tag Team
Do note those electricity retailers are buying from SP. They do not own any power stations or power generating assets, transmission and infrastructure.
SP owns power stations, solar panels and other assets. These would entail maintainence costs, upgrading, future investments in power assets as well. People like to complain about SP making huge profits but think about it, if 10 years down, we need a new power station, where does the money come from if SP has no profits?
When you do not own or need to build or maintain any assets, you can definitely charge lower.
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They are charging lower price to get more market shares. The electricity tariffs are set by the EMA, theres nothing SP can do about it as well.