What should I focus on when choosing a retailer? ? - Seedly
Seedly logo
Seedly logo
 

SeedlyTV EP08

Electricity Retailers

Anonymous

Asked on 10 Jul 2019

What should I focus on when choosing a retailer? ?

0 comments

2 answers

Answer Now

Answers (2)

Sort By

Most Upvote

  • Most Upvote
  • Most Recent
Fan ZD
Fan ZD, Employee at A Bank
Level 4. Prodigy
Answered on 10 Jul 2019

For me, I focused on the following when choosing a few months back:

  1. Chose amongst retailers which were integrated with SP for less fuss (Ohm, Tuas Power. Didn't consider Best as reviews were fewer).

  2. After looking at the discount and fixed plans, went with FIXED since I thought tariffs would likely go up.

  3. Performed 10min fuss-free application at Tuas Power

  4. Chose the 24-month standard plan, the 18/36mth were "non-standard", where there was a statement that the retailer may change prices DURING the contract. Wanted some certainty so went with the standard.

Please upvote if you found this helpful, thank you!

0 comments

👍 0
Nicholas Tan Yi Da
Nicholas Tan Yi Da
Level 4. Prodigy
Updated on 11 Jul 2019

My general rule of thumb is to choose companies that are 1)big well established companies(e.g. companies with their own power generation factories like tuas, keppel etc. 2)trustworthy 3) transparent in their billing/fees and also for some who wish more convinience , maybe choose ones that are the same SP bill. Hope that helps:)

6 comments

👍 0

4 more comments

Alber
Alber

11 Jul 2019

There was a parliament video recently being updated. Red Dot Power exited the electricity market and was not drafted into the final Open Electricity Market when it was officially launched in 2018. ES Power was a merger into another company and in this sense an independent retailer.
Alber
Alber

11 Jul 2019

From where the regulation point of view is that, there were extensive prudentials put in place in order to even become an electricity retailer so all 12 retailers regardless of position in financial standing can be considered large is better or "too big to fail" that has been proven many times during the financial crisis. In any case, consumer are protected regardless of which electricity retailer customer choose from. In Red dot power case, the news reported all customers to be put back to SP Group. In ES Power, all customers were novated to be on the same type of price plans until the end of their contract. In such cases, consumers are being protected and in that event, SP remains as the retailer of last resort. In my opinion, there are no best price plans or retailers. It's just who is more trustworthy and transparent. To each his own.

Related Products

Fixed Ohm 6m

Fixed rate of 18.90c/kwh
PLAN TYPE
18.90
RATE
6m
CONTRACT
[EXCLUSIVE] One-time $25 off bill with promo code 'OHMSEEDLY25'.

Show More Products

Related Questions

I kinda know how to invest myself, so regarding "Buy Term and Invest the Rest", what are the things I should look out for when getting Term? And what's a recommended insurance company I should go with regarding this? Why isn't there a "best" option?
What are some considerations that I should be taking into account when choosing a credit card to apply for?
What insurance should I get because I am going to ord in July this year and I am going to start on my first ever full time job earning only $2k? Anyone can reco me a decent plan or what I should know before meeting an insurant agent? ?
I am considering to do investing via Stashaway. Should I invest via monthly contribution or a lump sum of $20k? Also, any advice on what risk level I should set to get a return say, at least 4%? Thanks!?
Can anyone advice on when we should sell a stock? Recently a stock that I have been able to drive down the average cost showed a 6% gain. Unsure whether I should sell it now?