Have friends living in Jurong bragging about saving on their electric bill month after month?
Don’t worry! As of 1st May 2019, all households in Singapore are able to switch to iSwitch and enjoy savings on their electricity bill.
That means locking in guaranteed savings for the last few months and also enjoying incredible perks such as complimentary Personal Protection insurance, free green electricity & more.
Ok maybe you might have missed out on this but rest assured, your time to benefit is coming. In fact, with the electricity tariff rising every quarter, switching from SP to a retailer will be your best bet to lock in savings before any potential increase in 2019!
Wondering when it would be your turn? We have you covered!
The Open Electricity Market Roll-Out Phases
Image credit to the Open Electricity Market
Zone 1: West & North-West Singapore (1st November 2018)
Postal Codes starting with 58 – 78
Zone 2: North-East Singapore (1st January 2019)
Postal Codes starting with 53 – 57, 79 – 80 and 82 – 83
Zone 3: East Singapore (1st March 2019)
Postal Codes starting with 34 – 52 and 81
Zone 4: Central & South Singapore (1st May 2019)
Postal Codes starting with 01 – 33
As of 1st May 2019, all households in Singapore are able to switch to an electricity retailer like iSwitch and enjoy savings on their electricity bill.
But besides the obvious cost savings and perks waiting for you, are there more reasons to switch to a retailer?
3 Big Reasons Why You Need To Switch
1. Don’t Leave Money On The Table
If you haven’t switched to a retailer yet, you are paying the full tariff price for your electricity supply. Through a combination of deals in the fuel markets and electricity futures markets, electricity retailers are able to secure electricity supply at a lower price and pass on these cost savings to you!
2. Your Household Needs Are Different
Your household needs are probably going to be different compared to that of your neighbours. From the need to stick to a strict budget to constantly travelling overseas, retailers give you the flexibility to choose the best plan that suits your unique lifestyle.
3. Electricity Prices Might Continue To Increase
For over the last 6 months, electricity prices have been rising mainly due to the increase in oil prices as well. Retailers will give you the option to lock in your electricity supply at a fixed price, allowing you to pay the same rate for the period of the contract no matter how high the tariff rises.
The 2 Electricity Plans You Must Know
Now before you switch to any retailer, you need to know the 2 main types of plans you can select or you won’t be able to maximise your savings!
The Fixed Rate Price Plan
Sticking to a strict budget and looking to secure a price that never moves no matter how high electricity prices might get? Then look no further, the fixed price plan is for you!
This plan allows you to pay for your electricity use at fixed pre-agreed pricing for the entire duration of your contract. You will not have any bill shocks from your electricity price rate – any increase in your monthly bill just means you are using more electricity.
The Discount Off Tariff Plan
Also known as the DOT plan, this allows you to buy electricity in a hassle-free manner. There won’t be a need for you to monitor the oil markets to ‘Chope’ a good long-term pricing and most of us also don’t have the time!
While you will be subjected to the effects of a falling and rising oil price, the DOT plan will allow you to enjoy a guaranteed discount off the tariff rate!
At iSwitch Energy, we have helped over 2,000 households in Jurong save on their electric bill month after month and we want to do the same for you.
So head over to our website and check out our residential plans (Discount Off Tariff & Fixed Price included) here
Our friendly team looks forward to helping you switch & save!