Singapore’s electricity market has evolved significantly through the Open Electricity Market (OEM), where you now choose between SP Group’s regulated tariff or one of several competing retailers offering fixed rates, green plans, or flexible terms. While SP Group continues to deliver via the national grid, choosing a retailer lets you potentially save on your monthly bills and tailor your choice to your values and lifestyle.
1. Geneco (YTL PowerSeraya) — Best All-Rounder
Often topping price comparison tables, Geneco offers some of the most competitive fixed-rate plans across contract durations. As of May 2025, their “Get It Fixed” 12- and 24-month plans are approximately 27.68¢/kWh, lower than the regulated tariff. The short-term “Give Us A Try” six-month plan is even cheaper at 27.00¢/kWh with promos available.
What sets Geneco further apart is its Price Match Guarantee—if you spot a lower price within seven working days of signing up, they’ll refund the difference on your bill for the contract duration . It also offers the Power Eco add-on for renewable energy certificates for those looking to green their consumption.
2. Whole-Supply Gentailers (Senoko, PacificLight, Sembcorp, Tuas, Keppel)
These electricity retailers are part of larger generation companies and thus tend to offer stable plans with strong operational resilience. For example:
- Senoko Energy recently underwent industry consolidation and offers fixed-rate plans like LifePower24 around 29.42¢/kWh for 24 months .
- PacificLight stands out for its innovative “Save While Sleeping” 24-month plan at 20.05¢/kWh overnight rates, or standard “Savvy Saver” plans around 27.08¢/kWh.
- Sembcorp Power includes green energy components in all plans and offers a Sunshine Plan at $0.3626/kWh geared towards clean energy, though at a premium price.
These gentailers are valued for their reliability and adaptability during market volatility, a concern not lost on consumers during periods of price shocks and retailer exits.
3. Green Energy-Focused Providers
Sunseap is known for its green plans, offering options like a 100% solar energy plan at $0.4494/kWh (six-month duration). While more expensive, it provides complete solar offsetting—which can be appealing if sustainability matters most.
4. Flexible & Unique Offerings
- PacificLight’s “Save While Sleeping” plan offers extremely low off-peak rates (~20.05¢/kWh) with a small daily service fee—a solid choice if you can shift energy-heavy tasks to late night.
- Retailers like Union Power stadium themselves in convenience—with zero registration or security deposit fees—but pricing tends to be less competitive.
- Ohm Energy and iSwitch have earned reputations for seamless billing and useful offers like free AC servicing or nicer credit card rebates, though their market presence has contracted over time.
What to Consider Before Choosing
- Contract length vs. flexibility: Six-month plans offer lower short-term rates but less stability. Longer contracts (24 months) lock in good prices but reduce mobility. Geneco and PacificLight offer choices across these timelines.
- Hidden fees: Check for paper billing charges, early termination penalties, or daily fees (as seen in PacificLight’s night rate plan).
- Billing method: Some retailers bill through SP Group, providing a single bill for utilities; others bill directly, which could mean multiple monthly statements.
- Market stability: Stick with reliable gentailers if you’re wary of abrupt exits—a real issue with smaller retailers in recent years.
For most customers seeking balance, Geneco delivers solid pricing, flexibility, and trustworthy practices. If you’re prioritising stability during uncertain times, opt for established players like Senoko, PacificLight, or Sembcorp. If you’re particularly eco-conscious, Sunseap’s solar plan or Sembcorp’s greener options may be worth the premium. Remember: match your choice to your lifestyle—whether that means flexibility, green energy, or night-saver pricing.
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