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What are the Benefits of Open Electricity Market for Singaporeans?

With the launch of Open Electricity Market (OEM) in Singapore in the year 2018, the electricity market saw a revolution of sorts. It has benefited the consumers the most. With an open electricity market the consumers have liberty to switch to another supplier who offers them suitable deal. Now, Singaporeans can compare electricity retailers and make a conscious decision of opting a retailer purely on the basis of their needs and budget. They can now save themselves from paying huge electricity bills every month. Here’s a look at how OEM benefits consumers: 1. More information With the launch of OEM, the Singaporeans have become more aware of the electricity market in Singapore and they have become acquainted with how they can switch a retailer and choose from as many as 13 electricity providers in Singapore . They will learn to keep a track of their consumption patterns such as how much electricity they consume, when is the consumption at peak, what are the areas of wastage an...
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How to Find the Cheapest Electricity Retailer in Singapore?

There are as many as 13 electricity retailers in Singapore which offer a whole lot of options for the consumers to choose from. However, making the switch can be a difficult decision for the consumers as the confusion increases when there are so many options. It can be bit of a struggle to find the cheapest retailer. Also, one retailer may offer the cheapest plan for 6 months, while others may offer the cheapest plan for 1 year, and there are few which might offer cheap electricity tariff plans for 2 years or above. And then you have to make a choice from fixed price plan, discount off the tariff plan, and peak and off-peak plans which make it further challenging to compare electricity prices and zero in on the best choice. Tips on finding best electricity plan: - The first and foremost thing to do is download the fact sheet from the website of the retailer that you are considering and the plan that seems suitable to you. - You should get in touch with other Singaporeans who h...
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Top Ways to Save Your Electricity Bill and Reduce the Energy Usage

Within the past year, the electricity consumption of Singaporean households has gone up by about 17% as compared to 10 years ago according to a report by the National Environmental Agency, with the electricity tariffs set to rise even further in the coming years. To save on the electricity bills, you need to look for simple ways to change how you use electricity appliances and reduce your monthly bill along with reducing your carbon footprint and contribute a bit to the nations’ climate action pledge. Here’s a look at ways to reduce the amount charged by electricity retailers in Singapore: 1. Switch off when not in use Most of you may have the tendency to leave the TV playing in the background while doing chores at home or leave the lights on even during the day time. Switching off all electricity appaliances when not in use is the most simple and effective way of reducing electricity consumption so that your electricity provider in Singapore can’t charge more from you. 2. ...
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What are the Benefits of Choosing the Right Electricity Plan?

One of the biggest advantages of the energy deregulation is the power of choice that consumers can practice now. You can choose an energy company and plan which suits your needs. However, the pertinent question that arises is how to choose the right energy supplier for your home and business. The answer is in the companies that help customers in making the right decision by offering them a variety of options. You simply need to enter your details, and your requirements and preferences, like if you want green energy options, and you receive a plethora of options. You can then compare electricity plans and make your decision. Here’s a look at the benefits of choosing appropriate electricity plan: Each energy plan has its own pros and cons. When deciding on the right electricity plan for your home or business, you need to find out which option suits you the best. 1. Budget billing plan Budget billing plans are meant to avoid paying too much for your utility bills dur...
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Which Factors Affect the Electricity Prices in Singapore?

Electricity prices are usually a reflection of the cost to build, finance, maintain, and operate power plants and electricity grid. Some companies, who are looking for more profit margins, also include a financial return for owners and shareholders in their electricity prices. Thus, it is important for you to compare the electricity prices of various energy retailers operating in Singapore, before choosing one for your residential or commercial property. You can register on Voltz and get quotations from various suppliers. After receiving the quotation, you can compare electricity prices and choose the most competitive option. However, you must have a look at which factors impact the price of electricity. Here’s a look: 1. Fuel Fuel cost can vary during the periods of high demand. High electricity demand increases the demand for fuels such as natural gas. It leads to higher prices for the fuel and in return higher cost to generate electricity. 2. Power plants ...
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