Before you make the switch to buy electricity from a retailer, here’s what you need to consider as a residential consumer. Click on each step in the infographic below to find out more.

Step 1: Shop Around for a Price Plan

Shop around and check out the price plans that retailers have to offer. You can compare their standard price plans using our Price Comparison Tool to find one that best meets your needs.

There are 2 standard price plans that you can choose from:
a. Fixed Price Plan
b. Discount Off the Regulated Tariff Plan

a. Fixed Price Plan

Pay a constant rate (e.g. 20 cents/kWh) for electricity throughout your contract duration. However, the rate may be higher or lower than the regulated tariff during the contract duration as the regulated tariff is reviewed every quarter. This plan is suitable for consumers who prefer certainty over price and bill size.

Here's how the regulated tariff has changed over the last 3 years. The tariff is reviewed every quarter, and is regulated by the Energy Market Authority (EMA) to reflect the actual cost of producing and delivering electricity. (Rates indicated are inclusive of GST.)

b. Discount Off the Regulated Tariff Plan

Enjoy a fixed discount off the prevailing regulated tariff (e.g. 20%) throughout your contract duration. This is suitable for consumers who do not mind that their electricity rate changes every quarter so long as it is lower than the regulated tariff. The regulated tariff is reviewed by SP Group quarterly, and approved by EMA.

Retailers may also offer incentives as well as bundled services and products as part of their standard price plans.

Billing Arrangements

Retailer may either bill you directly or via SP Group. Your billing arrangement will depend on the retailer whom you choose.

If your retailer bills you directly	If your retailer bills you via SP Group
You will receive two bills. One bill is from your retailer for your electricity charges. You will need to set up new GIRO or credit card arrangements to pay for your electricity bill. The other bill from SP Group is for your non-electricity charges (water, town gas, refuse collection).	There will be no change to your current utility billing arrangement. You will continue to receive one bill from SP Group for both electricity and non-electricity charges.

Step 2: Contact Your Retailer for Price Plan Details

Contact your preferred retailer for details on the price plan that you are interested in. Ask for a Fact Sheet of the price plan and a Consumer Advisory that outlines the important things that you should be aware of before signing up.

Look out for contractual terms such as contract duration, payment terms, security deposit, early termination charges and auto-renewal clauses.

Ask if there are any terms and conditions associated with bundled services or products.

Read through your contract, and ask your retailer to explain the terms and conditions if you do not understand them.

Step 3: Sign Up

Sign up with your preferred retailer, who will work with SP Group to make the switch for you.
Your latest meter reading is required to make the switch. Your retailer will advise you on how and when to submit your meter reading. Alternatively, SP Group will estimate it for you.

Before you sign up, remember to read the consumer advisory for residential consumers.

Your contract can start as early as 5 business days after your retailer informs SP Group to make the switch.

Video

Watch this video to learn how to buy electricity from an Open Electricity Market retailer: