iSwitch Movie Night

iSwitch Celebrates A Successful Year Powering Our Commercial Customers

The Second iSwitch Movie Premiere Night!

It was a night filled with good food and even better conversations as iSwitch booked out a cinema at The Cathay to host their commercial customers for the premiere screening of Mission Impossible – Fallout on the 26th of July.

With 572 attendees representing businesses from different industries, our business customers were treated to a buffet spread that sprawled across the entire floor while the iSwitch ambassadors roamed the event interacting with the attendees, understanding better their current challenges and how to improve our offerings.

Customers were happy to put a face to the name of their account managers and learn more about the entire iSwitch team and our exciting plans to not only improve their commercial experience but also how the Open Electricity Market will benefit their households as well.

When quizzed, our business customers were happy to share positive comments regarding our price competitiveness and the professionalism of our sales personnel. Customers also expressed keen interest in our iPromo retail plan for their household needs.

With a constant dedication to delivering the best for our customers, we were pleased to hear over 80% were happy to recommend their peers to iSwitch.

Senthil Kumar, General Manager of iSwitch, commented that “It was a full house turnout of almost 600 people who mingled with the iSwitch team and strengthened the existing bond. This showcases our commitment and ongoing efforts to show our appreciation to our valued customers.”

Face To Face In A Digital Age

While we believe in reaching our customers through digital means and social channels that include Facebook and LinkedIn, nothing beats the in-person interaction we have with our valued clients.

It is through this in-person interaction that we can understand more about their business and help to begin crafting effective products to serve their needs. As the electricity landscape becomes more liberalised, knowing our customers intimately will become key to not only acquiring new ones, but also ensure our current clients trust and rely on our brand for their electricity needs.

Growing From Strength To Strength

At iSwitch, we are committed to providing the best plans to our commercial customers. From fixed-price plans to discount off tariff (DOT) plans, our account managers help each and every customer to decide on a plan that best suits their operations for maximum savings.

Take for example our demand aggregation scheme, through this scheme, we are helping MSCT managers of condominiums and commercial properties lock in energy savings on their electricity use for the common areas & facilities.

With over 3,000 commercial customers choosing iSwitch, we have also made significant strides into helping Singaporean businesses become greener and environmentally conscious. Businesses and organisations like Dulwich College, Vagabond Hotel and the Q&M Dental Group have all achieved 100% Green electricity through our iSwitch2Green plan.

The iSwitch Difference

At iSwitch, we go beyond just offering great discounts and competitive pricing. We are an electricity retailer that stems from a strong local heritage dating back to 1964. Our parent company, the RCMA group, provides us with a strong capital base and risk management expertise that allows us to continually provide our customers with the best products reliably.

Keen to switch to iSwitch? You can discover more information here about our commercial plans Click Here. to find out more.

Or maybe you are seeking great savings on your household bill – You can discover more information regarding our retail plans here: https://iswitch.com.sg/residential/.

singapore electricity

Empowering The Singaporean Consumer’s Choice Of Electricity Products

Organised by SGX and held by leading industry participants that included Electricity Retailer, iSwitch, this event saw a sharing on how Singapore’s Open Electricity Market is currently affecting consumers and its eventual evolution towards of full liberalization of the market.

Over 80 attendees were exposed to the exciting opportunities developing for both electricity business and retail customers, as well as the role of the SGX electricity futures market in enabling a more competitive retail environment.

Representing iSwitch at the event, our General Manager, Andrew Koscharsky, presented on “The rise of the Singaporean consumer” while drawing parallels from the Australian & New Zealand market.

The Changing Retail Market – A Happier & More Empowered Customer

With the recent launch of Singapore’s Open Electricity Market in April, residents in Jurong have already been enjoying better retail offerings that ultimately lead to significant price reductions without much hassle when it comes to the process of switching.

From 15 to 20% off the Singapore Power tariff, retail customers are suddenly discovering huge discounts while businesses have access to plans that can be tailored to their operations and not the other way around. A factory that does their manufacturing heavily at night can opt to choose an off-peak plan that lets them pay less for electricity use at night, locking in savings that accumulate substantially.

However, a few challenges do arise with this new sudden freedom of choice. Customers have a huge pool of retailers to choose from, each with their own plans and products, potentially adding more confusion into the mix.

Focusing On The Customer & What They Need

While commercial customers have diverse needs that range from tailored solutions to bigger alternative offerings such as green energy and pool pricing, retail customers are also becoming increasingly sophisticated.

Today’s digital age calls for customers demanding more flexibility when it comes to choosing their plans and retailers. From paying through a mobile app to a robust rewards program, retail customers are demanding more from the retailers than just bundled offerings and savings. With retailers competing furiously, reaching the customer and building continual trust is key to succeed and deliver long-term value that lasts.

Deeper Engagement With Customers – The iSwitch Way

Since 2015, we have been focusing relentlessly on the customer through various touch-points that allow us to build trust and long-term equity with our customers.

From educating the community about the incredible possibilities of this liberalisation to establishing strategic partnerships with banks and other service providers, we aim to engage with our customers on the best ways they can benefit from this new wave of opportunities that go beyond just cost savings.

Preparing For The Next Evolution Of The Electricity Market

While the current opportunities and benefits today might seem plentiful enough, there is still room for Singapore’s power market to evolve and become a mature market such as Australia or New Zealand.

From online account management to Flexible Purchasing Products that allow consumers to fully customise their electricity buying experience by giving them the flexibility to spread their purchasing decisions over time. The next evolution of the market will allow customers to experience even more freedom and control in customising a plan that will suit their household needs.

What Is iSwitch All About?

We are a licensed Singapore electricity retailer, drawing from a rich heritage that traces its origins back in 1964 when Singapore Tong Teik was established that eventually evolved into the RCMA Group today.

With a diversified portfolio of commodities ranging from energy to agriculture, the RCMA group is a global commodity trading house today with an annual turnover in excess of US$1 billion and employs more than 250 people. As a wholly owned subsidiary of the RCMA Group, we benefit from a strong capital base, commercial experience, retail knowledge and risk management expertise.

At iSwitch, we embrace the rise of the consumer and are constantly innovating with new offerings and products that help our customers save more money, both retail and commercial.

To understand more about our retail plans you can visit: https://iswitch.com.sg/residential/

To explore our commercial plans, you can discover more information here: https://iswitch.com.sg/commercial/

SGX Awards Night

RCMA Bags The Top 3 Volume Contributor Award

iSwitch’s Parent Company, RCMA, Bags The Top 3 Volume Contributor Award for 2017/2018 At SGX Electricity And Petrochemical Awards Night!

SGX Awards Night

Held on the 26th of June 2018, the annual SGX Electricity and Petrochemical Awards saw iSwitch’s parent company, RCMA Asia win the ‘Top 3 Volume Contributor Award’ for 3 years in a row since 2015.

As one of the top volume contributors in the swaps market, iSwitch & RCMA play a key role in contributing to Singapore’s electricity markets not just in the paper derivative markets but also in the physical supply of electricity to customers as one of Singapore’s licenced electricity retailer.

An Innovative Electricity Retailer With A Rich Heritage

iSwitch’s entry to the Singapore electricity market began in 2015 when its parent company, RCMA Group began trading and facilitating over-the-counter (OTC) electricity products in the Singapore market before receiving its Electricity Retail Licence from the Energy Marketing Authority (EMA) in Singapore.

iSwitch draws from a rich heritage that traces its origins back in 1964 when Singapore Tong Teik was established that eventually evolved into the RCMA group today. With a diversified portfolio of commodities ranging from energy to agriculture, the RCMA group is a global commodity trading house today with an annual turnover in excess of US$1 billion and employs more than 250 people. As a wholly owned subsidiary of the RCMA Group, iSwitch benefits from a strong capital base, commercial experience, retail knowledge and risk management expertise.

With the recent launch of Singapore’s Open Electricity Market in April, iSwitch has been serving residents in Jurong for their electricity needs in addition to their existing portfolio of commercial businesses that purchase electricity from iSwitch for their daily operations.

From highly popular fixed rate plans to discount over tariff (DOT) plans, iSwitch provides a range of innovative electricity products for customers both retail and commercial to suit their unique needs that can vary from household to household and the different business models operating in the market today.

A Commitment In Going Green

iSwitch holds a strong belief in renewable energy and playing a part in transforming Singapore into a green nation and is proud to offer their 100% Green Energy product, iSwitch2Green. Using United Nations verified carbon credits to offset the carbon pollution consumed by customers, iSwitch has helped various corporations and companies such as Dulwich College become 100% carbon neutral and assisted Vagabond Hotel to become Singapore’s first hotel to buy 100% clean energy.

The Road Ahead

As the electricity market in Singapore starts to mature with more contestable retail customers available as we move into 2019, customers will be expecting more from their electricity retailers in terms of better products that are centred around their lifestyles and households and not the other way around.

Joshua Nathan, iSwitch’s Head of Marketing notes that “We foresee that customers will have more choices when it comes to selecting the right electricity plan for their businesses. With the help of technology, they will also be able to manage this consumption on a real-time basis and we believe that the industry is gearing up towards that.”

EMA Roadshow

Open Electricity Market Roadshow

iSwitch participated in the Open Electricity Market Roadshow at Westgate Mall which was held on the 21st and 22nd April 2018. All 14 retailers were present in partnership with The Energy Market Authority to bring awareness to Jurong residents and showcase each retailers’ plans in an approachable environment. In true Singaporean fashion, the event attendees were all out to find the best bargain!

Over 1,500 attendees visited the event to understand more of the benefits of switching. It was the perfect environment for iSwitch to showcase our offerings.

The two plans that were the most popular were the iSwitch Trial and “Chope” the rate.

  • iSwitch Trial – a short term contract with maximum savings.
  • “Chope” the rate – a fixed rate for 2 years.

iSwitch also launched a new promotion plan exclusively for the roadshow – the iPromo, which allows customers to sign up with iSwitch and receive a complimentary iPad (worth $498) or $200 Capitaland Voucher. What made the iPromo stand out was the upfront cost savings in the form of a gift.

The event was a great opportunity for consumers to speak directly with iSwitch team and get individual advise on which plan best suits their home energy needs. We look forward to the next roadshow on 7th-13th May at Jurong Point.

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iSwitch exhibits at Manufacturing Solutions Expo 2017

iSwitch was delighted to exhibit at the Manufacturing Solutions Expo 2017 which was held at the Singapore Expo on 25th to 27th October 2017. It is an annual one-stop exhibition platform for products and solutions providers to showcase innovative solutions, cost-effective technologies and products from over 120 regional and international brands.

With more than 4,500 trade visitors it was the perfect stage to present how attendees can pay less for their electricity, as the manufacturing sector accounts for 40% of electricity demand in Singapore. For all the attendees iSwitch offered an exclusive privilege plan; by signing up for a 12 month contract receive the last month’s bill FREE. Furthermore, iSwitch is an electricity retailer not only committed to helping you save on your electricity bill but also helping you to offset your carbon footprint. The iSwich2Green product helps consumers to offset their carbon emissions created by their electricity consumption, through purchasing UN Certified Carbon Credits.

Other than focus on the commercial users, our dedicated team on site could share updates on the liberalisation of Singapore’s electricity market. This allowed the attendees to have more background knowledge, more confidence on the upcoming Open Electricity Market and get ready to switch when the market is open.

In short, it was a very successful event, thanks to the organizers for bringing such a one-stop exhibition platform for us to showcase our innovation Green Solutions, cost effective plans and share our insights on the future of the Open Electricity Market.

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SMF and iSwitch celebrated Mid Autumn Festival

On the 3rd October members from the Singapore Manufacturing Association and iSwitch celebrate together the eve of the Mid Autumn Festival. The iSwitch team shared insights into the current market and highlighted how businesses can easily reduce their monthly electricity bills. Guests enjoyed some of the traditional festival activities like answering lantern riddles and eating mooncakes while also learning how easy it is to switch electricity provider.

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The iSwitch team at the Mid-Autumn Festival

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Networking during the refreshments and drinks

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Welcoming speech from the General Manager Mr Senthil Kumar

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iSwitch helps welcome the new members to SMF

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iSwitch sales consultant explaining how easy it is to change electricity retailer

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Guests answering riddles to win exclusive iSwitch merchandise

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Powering Singapore’s Full Liberalisation of the Electricity Market

On Wednesday 17 May, members of the Singapore Semiconductor Industry Association (SSIA) attended a sharing session jointly organised with the Singapore Exchange (SGX) on how electricity futures and the liberalisation of Singapore’s electricity market can benefit the semiconductor industry. Being one of the prominent electricity retailers, iSwitch was excited to support this event as a lead sponsor and addressed to an auditorium of 100 keen attendees.

Electricity prices unquestionably contribute to the main factor, in-depth competitive prices; iSwitch also provides value added services such as providing carbon credit, energy efficiency solutions, understanding and fulfilling customer’s needs and requirements, all these are the factors that need to be considered during the electricity procurement process”, advised by Mr. Andrew Koscharsky, General Manager, iSwitch.

Mr. Eugene Toh, Director of Policy and Planning of the Energy Market Authority (EMA) said during the panel discussion. “The initiative strives to help the Semiconductor Sector on how they procure and hedge their electricity as there are more than 20 retailers now in the market. More retailers magnify the market competition and retain electricity retail prices competitive. Companies can utilize the electricity futures prices listed in the SGX website as a benchmark to evaluate if the prices offered by the retailers are competitive which lead to a greater price transparency”.

Besides Mr Toh, we are honoured to have the following industry experts and practitioners to share their insights on the latest electricity market developments in Singapore and participate in the panel discussion.
Mr. Tan Liang Ching, Senior Vice President, Energy Market Company (EMC) talked about the Overview of National Electricity Market of Singapore (NEMS).
Mr. William Prajogo, Associate Director, Singapore Exchange (SGX) spoke about Introduction to Futures Market and Electricity Hedging.
Mr. Andrew Koscharsky, General Manager, iSwitch shared his insights on Risk Management in Electricity Trading and Procurement.
Dr. Bikal Pokharel, Principal Analyst, Wood Mackenzie updated the Outlook of Singapore Electricity Market – Towards a Fully Liberalised Market in 2018.

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Movie Date with Customers and Fast Cars

iSwitch has organised its first movie night date with its customers. 200 guests were among the first few to catch the charts-topping Fast & Furious 8 at The Cathay last Thursday! Before the movie, our guests networked over refreshments and drinks during the reception. Unfortunately because of the rain, some guests missed our movie date. Nonetheless, those who managed to join us had an enjoyable time. Hope to see all and those we missed at our future events and movie dates.

Here are what some of our customers have to say.

“Very good. Please hold these events more often.”

“You all (are) doing a great job, we are looking forward to the next movie night!”

“We (have) enjoyed the movie session and movie for sure. Greatly appreciated the effort and look forward to more of such sessions.”

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SMF Awards & 84th Anniversary Dinner 2016

On Thursday 13 Oct, Singapore Manufacturing Federation (SMF) held its annual keynote event – SMF Awards & 84th Anniversary Dinner at The Ritz Carlton, Millenia Singapore. Guest-of-Honour, Mr S. Iswaran, Minister for Trade & Industry (Industry), graced the function with close to 800 guests from various government agencies, embassies, and the business community. The awards, which were given out during the evening, aim to recognise companies for their outstanding achievements in business growth, innovative business model and collaborative partnership.

Minister S. Iswaran shared one key message – Singapore companies must be ready to adopt the latest manufacturing technologies and business models in order to stay relevant and ensure future competitiveness in the manufacturing industry. It is timely to seize the opportunity where the pace of technological evolution is transforming the global manufacturing environment.

As one of the Gold Sponsors, iSwitch had the opportunity to share with the guests about leveraging on electricity cost savings to help bring about development growth and sustainability for their businesses.

It was definitely another successful and well organised event that SMF has awed the guests with.

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Mr. S. Iswaran (Minister for Trade & Industry (Industry)) visiting iSwitch exhibition booth.
(From left) Mr. Sunny Koh (PBM Deputy President & Managing Director of Chinatown Food Corporation), Mr. Chris Pardey (Chief Executive Officer of RCMA Group), Mr. Douglas Foo (SMF Chairman & Chief Executive Officer of Sakae Holdings), Mr. David Maher (Managing Director of iSwitch), Ms. Stacy Gan (Sales Manager of iSwitch), Mr. Senthil Kumar (General Manager, Electricity Retail of iSwitch)

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Exchanging thoughts on the developments and growth of Singapore’s electricity market – Mr. S. Iswaran (Minister for Trade & Industry (Industry)), together with Mr. Douglas Foo (SMF Chairman & Chief Executive Officer of Sakae Holdings), Mr. Chris Pardey (Chief Executive Officer of RCMA Group) and Mr. Sunny Koh (PBM Deputy President & Managing Director of Chinatown Food Corporation).

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Mr. Andrew Koscharsky (General Manager of iSwitch) shared his insights on the electricity market in Singapore with Mr. S. Iswaran (Minister for Trade & Industry (Industry)) and Mr. Douglas Foo (SMF Chairman & Chief Executive Officer of Sakae Holdings).

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Networking during the cocktail reception, iSwitch gets to share with the guests on how to achieve significant electricity cost savings.

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iSwitch team at the SMF Awards & 84th Anniversary Dinner.

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Cocktail reception before the SMF Awards & 84th Anniversary dinner begins.

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Close to 800 guests from various government agencies, embassies and business community attended the function.

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iSwitch Partners with Reuters and SGX for Industry’s First Ever Insightful Seminar

iSwitch Partners with Reuters and SGX for Industry’s First Ever Insightful Seminar
Learn How to Adapt to Changes in Singapore’s Electricity Landscape

On Friday 7 Oct, in partnership with Thomson Reuters and the Singapore Exchange (SGX), iSwitch invited the Energy Market Authority (EMA) and Wood Mackenzie to share their insights at this industry’s first ever seminar. Despite the rain, close to 100 attendees turned up at the Thomson Reuters Auditorium at One Raffles Quay.

There have been significant changes in the local electricity market for Traders and also Consumers. Regardless of where you sit in the chain, these changes provide opportunities to maximise trading profits and take advantage of the electricity market liberalisation for cost savings. This initiative strives to help consumers manage business costs, while analysing market risks through technology. Although iSwitch is one of the newest but fastest growing entrants in the electricity market, we are geared up towards educating the consumers on the options available and empowering them to make well informed decisions.

“Singapore Exchange (SGX) successfully launched the electricity futures market which provides market participants, including generators, retailers, consumers and traders, with a strategic platform to manage price risk and benefit from better forward price discovery and transparency. SGX welcomes the active role that iSwitch has played in promoting the electricity futures product and raising awareness amongst consumers about their choices in purchasing electricity,” commented, William Prajogo, Associate Director, Oil, Power & Gas Derivatives, Singapore Exchange. Mr Prajogo spoke about Singapore’s electricity futures market at the seminar.

It was our honour to have other industry experts with us at the seminar to share their insights.

Mr Henning Gloystein, Energy Editor, Asia & Deputy Editor in Charge, Asia Commodities of Thomson Reuters, talked about the successes and failures of the European energy market.

Mr Andrew Koscharsky, General Manager of iSwitch, shared his thoughts on managing risks in the trading and procurement of electricity in Singapore.

Ms Kerry-Anne Shanks, Head of Asia Pacific LNG Research of Wood Mackenzie, updated the attendees on developments of Asia Pacific Liquefied Natural Gas (LNG).

We are also privileged to have Mr Eugene Toh, Director of Policy and Planning of the Energy Market Authority (EMA) joining us on the panel for discussion.

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Guests networking after the sharing session.

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Mr. Matthew Jones (Engie, Power Trader), with Mr. William Prajogo (SGX, Associate Director, Oil, Power & Gas Derivatives). Mr Prajogo spoke about electricity futures in Singapore.

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(From left to right) Mr. Andrew Koscharsky (iSwitch, General Manager, Wholesale & Trading) with guests Mr. Dalton Yap (Telekomunikasi Indonesia International, Senior Product Manager), Mr. Philippe Didelle (ST Microelectronics Asia Pacific, Head of Procurement APAC) and Mr. HM Lee (ST Microelectronics Asia Pacific, Procurement Manager).

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Attendees networking with the industry experts during the cocktail reception.

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Close to 100 attendees from various industries and key businesses showed up at the seminar.

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Mr. Andrew Koscharsky (iSwitch, General Manager, Wholesale & Trading) shared on managing risks in the trading and procurement of electricity.

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Panel discussion during the Q&A session with the attendees.

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Our honour to have Mr. Eugene Toh joining the panel for discussion.
(From left to right) Mr. Andrew Koscharsky (iSwitch, General Manager, Wholesale & Trading), Mr. Eugene Toh (Energy Market Authority, Director of Policy and Planning), and Mr. David Maher (iSwitch, Managing Director).