Having electricity was becoming a privilege for Singaporean citizens because of the tariff price set by SP providers. But it all changed due to the phase-in transitions to the open electricity market and its retailers. Here are some of the plans of open electricity market retailers to know if you want to switch.
Tariff price is set by SP providers as they are the prime providers of electricity. Even if you are under other retailers, your electricity is still provided by them as they are at the top of the electricity board. These are also known as fixed price plans. So you pay a prepaid amount for the number of watts you use for a month. This is also contractual so you pay a fixed price for whatever power you use through this period.
Discounted Price Plans
It may not sound ideal when you hear discounts on electricity plans. But Singapore retailers are not fooling with their discounts in this case. Though discounts used to run up to 20% during the peak of open electricity market retailers, that is not the case anymore. Now the discounts only run up to 3%. But a lower price is still a lower price when you calculate it watt wise.
The retailers learnt the pattern of Singaporean’s power consumption before coming up with this plan. They provided power for a lower price during the off-hours and higher prices during the peak hours. The bill generated depends on your pattern of use and may even be ultimately the same. But to the low popularity, this plan has been removed.