With the launch of the Open Electricity Market (OEM) in November 2018, some Singaporeans have already or are getting ready to make the switch to an electricity retailer of their choice. Before the launch, only certain businesses had the power of selecting their own retailer.
By May 1, 2019, all households and businesses islandwide will be eligible to purchase electricity from any of the authorised electricity retailers in Singapore. However, choosing one retailer among 13 companies is a daunting task even after comparing their plans.
Here I introduce my personal top three electricity retailers Singapore, based on their philosophies and offers. These retailers are authorised by the Energy Market Authority (EMA) and are committed to providing the best for their customers.
When you choose Ohm Energy, you take charge of all your electricity needs. Ohm Energy doesn’t have a very big team or huge corporate structure, which helps them to provide fuss-free electricity at a cheaper price. They believe that electricity should be simple and inexpensive. Their partnership with SP Group brings you the same customer service and billing in system that you have grown up with – familiarity is their selling point.
With such beliefs, they are committed to providing great services and electricity at a fair price without any complications.
A plus point for Ohm Energy is that they provide the best “discount off the regulated tariff” plans with the highest discount of 25% off the prevailing tariff through their Ohm Discount (6 Months) and Ohm Discount (12 Months) plans.
Sembcorp Power portfolio includes solar power facilities, renewable wind assets and thermal power plants to generate 12,000 megawatts of electricity.
With facilities and experience of operating in multiple countries, Sembcorp Power makes a difference by servicing one’s energy needs in greener ways. This includes using e-bills and digital brochures over paper ones.
A point to note is that they have a diverse source of electricity offered through their plans; mainly solar energy. Through their ‘Sunshine Plan’, Singaporeans can enjoy energy harvested from solar panels placed at 1500 sites across the island. Keeping it clean and green while saving on your bills? That sounds neat.
Geneco by Seraya Energy
Geneco is all about building a sustainable energy future. As the retail arm of Seraya Energy – which has been generating power since 1971 – they serve to “Power The Change”. Geneco is part of the bigger YTL Group of companies which has put in tremendous effort in recycling and building renewable energy in the UK and beyond.
Locally, Geneco has 18 years of experience in retailing electricity since 2001, on top of a built expertise on international energy. Being committed to the future means building an eco-system of mutual empowerment between Geneco and their customers. This is done by their initiatives such as #ChangeMakersSG whereby they partner with organisations and individuals to give back to the community.
A plus point by Geneco is that they provide the lowest rate of electricity for a 6-month contract, retailing at 17.63 cents/kWh.
The top three retailers featured above were chosen based on my personal philosophy and preference. There are 10 other retailers to choose from.
Ultimately, every consumer should learn more about the various electricity retailers in Singapore before deciding on the right one to switch to.