It's switch and save as SP powers up households with cheaper option

Its wholesale rates are not only the lowest based on prevailing market prices, but also allow consumers to pocket up to some 40% savings

Anita Gabriel

Published Mon, Oct 28, 2019 · 09:50 PM

Singapore

SP GROUP's market share may have contracted since Singapore opened the electricity market for 1.4 million households to pick among more than ten retailers but the national utility should not be off the table as a cheap(est) option for the thrifty.

In fact, SP has been powering up some households at wholesale rates that are not only the lowest based on prevailing market prices, but also allow consumers to pocket up to some 40 per cent savings.

This is way more than the 20-30 per cent savings that customers who have switched over to any of the 12 electricity retailers are enjoying.

"Wholesale electricity prices are determined by market forces. While they are currently the lowest price out there, they tend to fluctuate due to demand and supply of real-time ele…

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