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 have chosen that specific tariff plan from the retailer to get an idea of their experience, billing issues, pros and cons of the retailer, customer service, etc. This will make it a bit easy to compare electricity plans.

- It is being said that people find the discount off tariff plans most popular in Singapore.

How much you spend on electricity also influences the decision. The Singaporeans are supposed to pay the electricity tariff regulated by Energy Market Authority- EMA. The tariff updates every quarter and is inclusive of 4 components namely market administration and power system operation fee, network cost, energy cost, and market support services fee.

Most retailers offer 3 types of plans for the consumers:

- The fixed price plan where you can pay fixed rate throughout the contract.
- Get a discount off the regulated tariff throughout the contract.
- Pay more tariffs for electricity during the peak period and less during the off-peak period.

Find out the estimated average electricity that you consume in a month and multiply them with the tariff rates of each plan so that you can compare electricity prices and choose the cheapest plan for yourself.

Explore the web for more information and suggestions on how to compare electricity plans offered by various retailers.

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