Open Electricity Market: Things to Consider

With exception of people living in the areas where the postal codes begin with 01 and 33, most of the Singaporean households now can select electricity plan or retailer of their own choice under Open Electricity Market.  Whereas an ability to select is good, Singaporeans face one more problem: making a little sense of over 13 retailers as well as 52 standard Singapore electricity tariff plans they provide, and non-standard plans.

Here are some questions you have to ask that will help you to make a little sense of OEM marketplace or make best decision for the household.

Do You Want Fixed Price, Discount-Off Tariff, Or Peak or Off-Peak Plan?

In order, to help the consumers to compare the plans over retailers, there are 2 kinds of the standard plans defined: the Fixed Price and the Discount off Regulated. The third types, Peak & Off-Peak plan will be offered by a few retailers, however, are considered as the non-standard as how every retailer designates the peak hours differs.

How these plans work.

The Fixed Price plans need you to pay fixed rate throughout your contract duration. Whereas rate isn’t subjected to the quarterly fluctuations and based on tariff, it might be higher and lower than tariff with time.

Those who are a bit concerned about the rising prices in the future will be glad to know about the PacificLight’s plan that gives you complete peace of mind of low Fixed Price.

The Discount Off Tariff plans provide the discount off prevailing the regulated tariff price that is revised each quarter.