I Found The Cheapest Electricity Retailer in Singapore & 30% Bill Saving

I Check, I Compare, I Study, I Suggest!

Recently, if you walk around the shopping mall or food market in the Western or Northern Region, I bet you would bump into a group of promoters.

Don’t reject them. They are not the typical salesman that telling us to pay more. They can be your saviour for your monthly expenses.

Places open for electricity retailer

But why only in the West and the North?

Because under government’s plan, the smart nation takes off from Jurong!

Initially, Jurong is the first place where started this since April 2018.

Subsequently, it opens up to the rest in the West and Northern region.

How Many Electricity Retailers in Singapore?

I know there are 12 more electricity retailers in Singapore for your options right now.

It took me hours to compare and understand thoroughly about their various offers.

So, I’m here to summarize my pick of choices for your easy reference.

How Many Different Package?

In short, there are 2 types of plans, one is to sign at a fixed rate that stays constant for a duration, and another one is to stay at a guaranteed discount on the current regulated tariff.

The regulated electricity tariff is at 25.82 cents per kWh.

After comparison, the cheapest offer is now from Geneco and Sembcorp.

Both of them offer a fixed 17.98 cents per kWh for 2 years contract.

In addition, Geneco also offers a conditional discount such as:
– 5% UOB One Card Rebate + additional 1% off with UOB
– 1% Cash Rebate on POSB Everyday Card

Whereas Sembcorp has a 3% cashback with OCBC 365 Credit Card.

Regulated Electricity Tariff

However, the regulated tariff may not keep inflating, it fluctuates every quarter.

So, if you expect it will be reduced below 17.98 cents per kWh mark within 2 years, the discount off tariff package should be more suitable for you.

The best off tariff package is offered by Diamond Electric at 22.50% below the regulated tariff at any point of time.

What is My Choice for the Cheapest Electricity Retailer?

I chose Geneco’s fixed rate for 2 years. It saves me 30% bill monthly.

The power supplier is still SP, I don’t see any disadvantage here.

Too good to be true?  Hesitating why the government is offering this?

I don’t care whether it is about politics or economics. I just want to pay the lower bill.

I shared my findings here, hoping this will save your monthly bill too.

Tell us what you think if changing your electricity retailer can save your bill.

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