Dear readers, SP Power Group, Singapore’s electricity grid operator just announced last week that the electricity tariff for households from 1 Jan 2023 to 31 Mar 2023 is 31.27 cents per kWh inclusive of the 8% GST.
So with this, what I called the baseline tariff set by SP Power Group, how does the electricity rates offered by the Open Market retailers compare?
Well, based on the price comparison webpage from the Open Electricity Market, the following are the electricity open market retailers that offer the cheapest electricity plans (please take note that all plans are fixed electricity plans as there are no longer any discounts off tariff plans):
Geneco: 30.98 cents/kWh (for 12-month plan) and 31.12 cents/kWh (for 24-month plan)
Senoko Energy: 30.98 cents/kWh (for 12-month plan) and 31.12 cents/kWh (for 24-month plan)
Keppel Electric actually provides 31.27 cents/kWh (for 12-month plan) that are the same as SP Power Group’s tariffs but as the rates are no lower, it means Geneco and Senoko Energy offers the lower electricity tariffs right now.
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