By now, most would have already switched to one of the OEM electricity retailers. Moving away from the SP Group regulated tariff rate (23.02 cents/kWh) is a no brainer as there will definitely be significant savings. However, there are so many things to consider, fixed/variable plan, the duration of the contract, rebates/incentives, etc. This plan I am going to share/introduce is not a widely marketed variable plan which has no contract and is definitely the cheapest electricity plan in Singapore – SP Group Wholesale Electricity.

Think of all the OEM electricity retailers as the middle man, the OEM electricity retailers are either buying or generating the electricity at the wholesale rate and then packaging them as various plans to sell to the consumers (us) for a profit. Hence, the cheapest rate can only be the wholesale rate. Let me show some of my electricity bills.

April 2020

361.83 kWh – $46.87 which translate to 12.95 cents/kWh

Compare that