With a highly dynamic and competitive electricity market in Singapore, consumers now have the opportunity to buy electricity from a provider that offers them the best deal possible in terms of pricing and benefits. Given the flexibility of the electricity price plans in Singapore now, consumers who have yet to make a switch may not be maximising their energy savings.
Prior to the liberalisation of the Open Electricity Market (OEM) in Singapore, consumers were buying electricity from a sole energy provider – the Singapore Power (SP) Group company. Over the years, the Energy Market Authority (EMA) was established to ensure that consumers in Singapore continue receiving a consistent, steady supply of electricity amid the market competition.
A gateway to power supply companies in Singapore introducing new electricity price plans and packages, the Open Electricity Market presents consumers with a wide-ranging selection of choices for energy supply. Since the OEM officially launched in 2018, electricity retailers in Singapore are innovating to bring consumers the best deal possible in electricity supply.
With over 42 years in energy expertise, Senoko Energy is one of the pioneering companies in Singapore in power generation and energy solutions. As one of the biggest and leading players in the energy market, Senoko Energy continues to innovate – offering sustainable energy solutions on top of lowered electricity price plans that come with several benefits guaranteed to improve the quality of living for consumers.
Making The Switch: How Do I Pick The Right Electricity Plan in Singapore?
Before making a switch, consumers are encouraged to take stock of their energy usage and consumption habits. Likewise, it is helpful to understand the different electricity suppliers who have entered the market and what their energy bundle offerings are in Singapore.
Consumers have two options with the liberalised open electricity market in Singapore:
- Make no switch: Stay with SP Group and continue buying electricity at the regulated SP tariff.
- Switch to one of the private electricity retailers in Singapore.
Even within the spectrum of electricity bundles made available by power utility companies in Singapore there are different types of pricing plans to pick from. Consumers can either pick a fixed price plan or a discount off the regulated tariff. Some electricity providers, like Senoko Energy, also offer promotions to enhance the electricity price plans offered.
The liberalisation of the open electricity market offers consumers with greater choice and lower prices so consumers should make a comparison to evaluate if their current electricity provider in Singapore is truly the most efficient choice for them.
What Is The Best Electricity Plan For Me?
The best electricity plan differs from individual to individual. Depending on your preferences and consumption habits, the type of electricity plans you choose will vary. Consumers should also consider factors such as customer service, processes in contract renewals and billing transparency as well.
Why Senoko Energy?
With an established and diversified portfolio in natural gas, electricity supply and sustainable solutions, Senoko Energy is primed to meet your energy needs in Singapore.
- Price Certainty
Senoko Energy offers a variety of electricity price plans ranging from 12 to 24 month cycles. Compared to the SP Group’s regulated tariff, these electricity bundles are priced considerably lower, starting at 17.68 cents per kWh. Fixed electricity price plans offer a sense of security and comfort for consumers who are looking to reduce their electricity expenditure and maximise savings.
Senoko Energy also partners with banks like UOB and Standard Chartered to offer card rebates and promotions.
- Comprehensive Benefits
Alongside price certainty, electricity price plans with Senoko Energy come with comprehensive benefits in the form of cash rebates and exclusive promotions and discounts.
By partnering with banks (UOB, Standard Chartered and American Express), the electricity retailer offers cash rebates and discounts on bills for consumers. Working with NTUC Link, Senoko customers can now earn LinkPoints for every dollar spent on electricity bills, making the switch a cost-efficient one.
The introduction of the Smart Rewards programme also grants Senoko customers with a full suite of privileges, discounts and rewards.
- Quality Customer Service
The differentiating factor between a good electricity retailer and an excellent one is the quality of customer service. Understanding the true value of being on-the-ground, Senoko Energy engages with the consumer base through roadshows, taking advantage of the interaction to tailor their electricity price plans to suit varying needs in Singapore. The development of an app also empowers consumers to monitor and understand their electricity usage better.
Maximise Savings In The Open Electricity Market
The open electricity market is a relatively new concept in Singapore so consumers are bound to experience some amount of hesitation when it comes to switching electricity retailers. With increased dynamism in the electricity market in Singapore, consumers are presented with an array of options for electricity bundles that fit their consumption habits and preferences best.
Although SP Group will continue to play a key role in operating the national power grid, consumers now have the opportunity to purchase tailored electricity bundles that can help them maximise savings and enjoy additional promotions on top of discounted tariffs.
With in-depth market intelligence and a diversified portfolio, Senoko Energy offers personalised and seamless customer experiences to simplify the switch to a much more efficient energy solution for individuals and businesses.