Asked by Anonymous
Asked on 17 Jun 2019
Want to find out more on the different pros and cons for each electricity retailer
If you've been following our community you would probably find that we've already covered the cheapest electricity retailer and the terms & conditions you should consider when it comes to choosing the ideal retailer. If you've yet to do so, do click on the respective links and read for your own good :)
A couple of considerations beyond prices and promotions would be, services, usability and how environmentally friendly theses retailers are. So which electricity retailers are actually environmentally friendly?
Carbon Neutral Electricity Retailers
iSwitch - All of iSwitch's electricity plans are 100% green. They have this iSwitch2Green Carbon Credit Offset scheme that is applicable for both businesses and residential households. These carbon credits are issued with the aim of reducing the equivalent emission of greenhouse gases into the atmosphere. Households can use these credits to offset their use of electricity to become carbon neutral, helping you do your part for the environment!
Do note that iSwitch has six electricity plans to choose from, 3 Fixed Price Plans and 3 Discount-Off-Tariff (DOT) Plan.
Geneco - Geneco has a plan (Get It Green Plan) that produces zero carbon footprint for a one-year period. However, do note that all users can purchase carbon credits with Geneco at an additional cost of S$0.005 per kWh, which will be reflected on your monthly bill. Which represents that If your household consumes 500 kWh per month, and you have signed up with us for a 24-month fixed rate plan at S$0.1620 per kWh, your electricity bill would be S$81 per month. If you choose to purchase the carbon credits to offset your electricity consumption at a cost of S$0.005 per kWh, you would only be paying an additional S$2.50 per month. Which is not too steep of a price to pay to reduce your carbon footprint!
Do note that Geneco has a total of seven electricity plans to choose from, 4 Fixed Price Plans, 1 Discount-Off-Tariff (DOT) Plan and 2 Non-Standard Fixed Price Plan.
Sembcorp Power - All Semcorp Power's regular plans provide carbon offset 50 kWh of electricity per month.
P.S. For every successful contract sign-up with Sembcorp Power, they claim to pledge $5 to selected charities to offset their electricity bills. Wow!
Solar Energy Plans/Retailers
Geneco - 100% clean solar energy plan (Get Sunny) for 18 months. However, do note that your contract will be renewed under a standard 24 months Fixed Plan.
View fact sheet here
Sembcorp - Unique non-standard solar energy price plan (Sunshine Plan) that provides you with green energy from 7am to 7pm only and regular energy after this period. Do note that the prices vary as well. You will pay 21.40c/kWh from 7am to 7pm and 18.65c/kWh after.
View fact sheet here
Sunseap has three Fixed-Price Plans and three Discount off Tariff Plans that you can choose from which runs on 1%, 50% and 100% solar energy respectively
P.S. You can also check out and compare reviews of all 12 electricity retailers here: https://seedly.sg/reviews/electricity-market
I hope this will help!
I am using Ohm Energy! Back then, it was because of the seamless transition of payment of bills (they still use your SP bills), and the relatively short contract tenure that they offered for tariff+ billings!
If you are looking at cost mainly, you can use the SP app to compare for your electricity usage. Right now, wholesale electricity offered by SP is quite economical amongst the rest of the electricity retailer, though you need to install a smart meter.
Review: I have been using Geneco since January. 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 4 months.
4) They are one of the main providers and thus reliable.
I would personally recommend the 2 years plan since they do price matching within 7 days. Total possible rebate= $68 + $40 (AMEX credit card) + $20 (referral) = $128. A really good deal :)
Apply early, save early!!!!!!!!!!!!!!!!
1) Set up a recurring payment via Amex credit card by 30 June 2019 and pay first Geneco bill by 31 August 2019 to enjoy 1 time $40 cashback credited to your card account by 30 Sept 2019. (pls check other terms and conditions on website)
2) 5% Uob one card rebate + additional 1% uob rebate (for 12 months) on recurring bill with uob cards by 30 June 2019. Plus $10 bucks rebate. Need to SMS Utility NRIC to 77862.
3) Charge to Posb everyday cards and get 1% cash rebates. Simplest non-confusing terms.
Recommend to go for Option 2 if your bills are on average $90.. 5% rebates on 90 bucks for 12 months would be about $54 savings already. I am using this option personally.
Oil going up so would recommend the fixed price offer, but decision is solely up to you. Markets are unpredictable. Trade war on the other hand causing oil prices to come down. But in Singapore, price usually increase faster than for it to come down from past experience.
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. March deals even better at 17.78c/kwh for 2/3 year plans. Would recommend fixed plan over discounts over tariff plans. Switch over now without hesitation as every day delayed is costlier than waiting to get a slightly better deal in future.