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...