Saving & Spending
Being diligent with electricity
By Early Retirement SG  •  February 19, 2020
Over here in US, we signed up for a unique power provider. Usually, most people will sign up 6 months, or 1 year contract for power at a fixed rate. Same as in SG. We pay, maybe $0.20 per kilowatt hour, and we just use electricity anytime without thinking. However, we selected a billing company which allows us to buy electricity at wholesale prices. The price moves every 5 minutes. So sometimes it is $0.02 per kwh or it could be $0.011 or it could be $0.15 per kwh. After reading reviews, it appears that generally, the price of power is quite low, around $0.10, BUT, during summer months, it could go up at high as $9.00 per kwh. IF the demand/supply spikes and pushes the price up. But it lasts for maybe 5 minutes or just a couple of hours. But it hurts. This is an insane amount. Cos some people in the region got hit...
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By Early Retirement SG
Male, born in 1982. Graduated with a degree majoring in Banking & Finance, Financial Adviser for a period of time resulting in in-depth knowledge of insurance products and marketing techniques of the industry ...
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