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Buying at Wholesale Electricity Prices
Buying electricity at wholesale electricity prices, which fluctuate on a half-hourly basis, is a riskier option that does not offer as much price certainty as the other purchase options.
Consumers can choose to buy electricity from the wholesale electricity market via SP Group. The electricity price that they pay varies every half-hour, depending on the demand and supply situation in the market. This is also known as the Wholesale Electricity Price (WEP).
The WEP typically rises due to factors such as an increase in electricity demand and/or an outage of power generating units. Consumers are advised to consider this option carefully given that the electricity rate that they pay is uncertain and volatile.
For consumers who still wish to buy electricity from SP Group at the wholesale electricity price, please read through SP Group’s Fact Sheet and Consumer Advisory which summarises the key contractual terms before doing so.
Making the Switch
For greater price certainty, consumers can either choose to buy electricity at the regulated tariff (if eligible) or from a retailer at a price plan that suits their needs.
Consumers can visit the resources under the Related Links section to learn how they can switch to the other purchase options.