My Thoughts about Open Electricity Market (OEM) for Singapore Residential Market

[Huatable]

I compared the prices of the OEM retailers. Chin Chin Chye Chye at least 20% discount off SP Power tariffs for floating rates and about 30% discount for fixed rates (because SP Power tariffs are expected to be adjusted slightly lower in 2019).

It set me thinking, SP Power made so much money from us all these years.

Worse of all, the old, uneducated, poor, wouldn't sign up with OEM retailers readily because it is a commercial contract with lock-in period or clauses.

Then why so much bloody hassle? Why don't SP Powers just charge 20-30% cheaper for all residences?

 

[Huatable]

Three primary things to note when you sign-up:-

• Fixed or Floating rates
• Contract Period - if you move house, there are penalties for some packages.
• Promotion/Discounts
  
  

 

[Huatable]

Secondary Considerations

• Green Energy Composition / Carbon Neutral
• Waiver of Carbon Taxes
• Requirements for Deposits

 

[Huatable]

Most households use less than 1000kwh monthly.

If your household use 2000-3000kwh monthly, eg for bitcoin mining, you can sign up for the cheapest fixed rates + a small basic monthly fee.

 

[whoami]

They do this just to show the World they "practise" what they "preach". Must have "competitors". Just like telcos lah. But 3 main telco temasek got share too. Lppl..

 

[cocobobo]

look how much motorists benefit from open petrol market

 

[congo9]

They say Monopoly is good at only Politics. Cannot left to election to decide who will be the next government. Cannot be left to throwing dice. It's for your own good. It's for your own good that people should accept one Government.

 

[sweetiepie]

Three primary things to note when you sign-up:-

• Fixed or Floating rates
• Contract Period - if you move house, there are penalties for some packages.
• Promotion/Discounts
  

KNN the fixed rate is not fixed KNN it will still adjust accordingly with reference to SP prevailing rate KNN

 

[Huatable]

KNN the fixed rate is not fixed KNN it will still adjust accordingly with reference to SP prevailing rate KNN

Can fix for 6/12/18/24/36 months if you want.

 

[koonk1ng]

Yes, too many choices actually.. that i can't actually make up my mind to lock in contract with other firms. So far, still paying SP :(

 

[sweetiepie]

Can fix for 6/12/18/24/36 months if you want.

KNN what is the meaning of the below statement ? KNN
2) Fixed Price plans mean you pay a fixed rate throughout the duration of your contract. While the rate is not subjected to the quarterly tariff fluctuations, it may be higher or lower than the tariff over time.

 

[sweetiepie]

 

[whoami]

View attachment 51187

Ke belakang pusiiiiiing

 

[sweetiepie]

KNN one thing to note is sinkie all thoughts about oem and the rate but they overlooked that some flats power meter run much faster than others KNN it has been proven by some kopi uncle and not a urban myth KNN

 

[Huatable]

Perhaps, Red Dot customers can break contract and re-contract with other retailers at lower rates now. (Energy prices are lower)
It's a win for them.

 

[sweetiepie]

KNN what is the meaning of the below statement ? KNN
2) Fixed Price plans mean you pay a fixed rate throughout the duration of your contract. While the rate is not subjected to the quarterly tariff fluctuations, it may be higher or lower than the tariff over time.

KNN my uncle apologise for giving wrong info KNN yes it means fixed rate during the duration but the rate may be higher or lower at times and during the trial period of 3mths user can choose to change their price plan without any fees if the rate were to go down KNN

 

[rushifa666]

Who else is saying overseas? I can tell you sinkie eleçtricity bill was retarded from the start

 

[zhihau]

Altogether now!!! HUAT AH!!!

 

[winnipegjets]

If NTUC gets into this market, I will sign up with them. NTUC is the best in everything ...from managing workers so that they don't cause trouble to running hawker centres. NTUC always make money in everything they do. If they get into trouble - like health insurance - the government steps in to bail them out.

 

[maxxi]

If they can afford to give 30% discount MEANS WHAT?.