1. What are the benefits of signing up with retailers through ElectricGuru?
One-stop platform to save money, time and offer a hassle-free experience!
ElectricGuru is an independent electricity broker that provides you a platform to compare price plans with various retailers.
We help to evaluate the most suitable electricity plan that meets your need.
Our consultants will follow up and propose the best electricity plan available in the market when your contract is due for renewal.
2. What is Open Electricity Market (OEM) ?
Open Electricity Market provide consumers with more choices and flexibility to choose their preferred electricity plan. You can buy electricity from a retailer of your choice or continue to buy from SP Group at the regulated tariff. Since 2001, EMA has progressively opened up the electricity market. Currently, larger business consumers can choose to buy electricity from a retailer of their choice, instead of SP Group at the regulated tariff. With the Open Electricity Market, the remaining 1.4 million accounts in Singapore, mainly residential consumers, will also enjoy more choices and flexibility.
3. What are the Price Plans that I can choose from ?
There are two Standard Price Plans with the following pricing structure:
Fixed price. Pay a fixed rate (e.g. 22 cents/kWh) for electricity throughout your contract duration.
Discount off the regulated tariff. Enjoy a discount off the prevailing regulated tariff (e.g. 8% off) throughout your contract duration. The regulated tariff is reviewed by SP Group quarterly, and approved by EMA.
4. What are electricity retailers and what do they do?
Electricity retailers sell electricity packages to consumers with different price plans. Consumers will be able to choose the Standard Price Plans that best suits their needs.
5. Is it compulsory for me to switch to an electricity retailer?
It is not compulsory for consumers to switch to a retailer. Consumers who prefer to stay with SP Group to buy electricity at the regulated tariff can continue to do so. You can compare the electricity plan offered by retailer before you consider to switch.
6. What should I consider before buying electricity from a retailer?
Before you decide to switch to a retailer, you should compare the price plans offered by different retailers and choose one that best meets your needs and preferences.
7. What is the electricity contract duration with a retailer?
At the moment, most contracts are either 1 year or 2 year.
8. Will my electricity supply be affected when I switch retailers ?
There will be no interruption to your electricity supply when you switch retailers. You may engage different electricity retailers, the electricity supply will remain reliable as SP Group will continue to operate the national power grid and deliver electricity to consumers.
9. How will I be billed if I switch to an electricity retailer?
Your electricity retailer will bill you for your electricity usage only. SP Group will continue to bill you for the other utility services (water and refuse removal charges)