Dear readers, there is one money saving goal which I have intended to carry out this year. But I have been procrastinating and don’t doing it. I always don’t know why I have not done this despite it could save me monies. I think it is due to lack of momentum. But I am not alone.
I am not alone in not carrying out this money saving goal as 52% of the households here have also not done it.
What it this thing that I and the 52% households have not done?
Is it we still do not give up our habit to buy TOTO and 4D? Which if we stop doing could save us some monies?
Well, no. The answer is that I have not switched to the Open Electricity Market for my buying of electricity, same as the 52% of the 1.4 million households here as at Oct 2020.
I still recall last year or so, when the implementation of the Open Electricity Market was carried out with much hype with a lot of advertisers promoting their packages in many parts of the island, I actually carried out some thorough study and identified some Open Electricity Market contractors that are good and not good. But in the end, I still procrastinated till now and have not switched my electricity provider.
I read that as at Oct 2020, the Open Electricity Market providers and their share of residential consumers are:
- Keppel Electric (23.4%)
- Geneco (21%)
- iSwitch (13.4%)
- Tuas Power (13%)
- Sembcorp Power (9%)
- Others comprising Best Electricity, Diamond Electric, Pacific Light Energy, Ohm Energy, Senoko Energy, Sunseap Energy and Union Power (20.2%)
I may choose the more popular providers as with larger consumer base, there may be economies of efficiency that can be passed down in terms of lower cost to consumers.
On thinking, switching to an Open Electricity Market provider is likely my goal for 2021! What about you?
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