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.
- Click on each step in the infographic to find out more.
- Before you sign up, remember to read the consumer advisory for residential consumers.
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.
Non-Standard Price Plans
Retailers may also offer non-standard price plans. These are plans where the electricity rates may not be all-inclusive and may change during the contract duration in accordance to the terms and conditions of the contract. They may also include recurring charges or fees, and retailers have the flexibility to decide on the pricing structure and contract duration.
Please approach the retailers if you wish to find out more about these 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 |
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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).
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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.
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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.
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