Just like managing your savings, ensuring your monthly electricity bill stays low is all about being prudent in your choices. Whether it’s using energy-efficient appliances or turning off the aircon when you leave home, every little bit helps – it’s also the reason why you should consider making the switch to an alternative electricity provider.
With the launch of the Open Electricity Market (OEM) in the West and North West regions on 1 November 2018, homeowners are now free to switch to approved Electricity Retailers like iSwitch, which means they no longer have to get their power supply from SP Services.
Why should you consider iSwitch?
As a licensed electricity retailer, iSwitch offers a variety of plans including a fixed rate offer that promises savings of 30% (before GST) as well as various lifestyle perks! So which of these plans should you choose?
For the benefit of those who aren’t already in the know, iSwitch’s plans can be broadly divided into two main categories: Fixed Rate Plan and Discount Off Regulated Tariff.
• Fixed Price Plan – You pay a fixed price (rate) and enjoy price certainty throughout the course of your contract, regardless of market fluctuations.
• Discount Off Regulated Tariff – You get a guaranteed percentage discount (e.g. 23%) off the prevailing benchmark regulated tariff set by SP Services.
a. Super Saver Discount (24 months)
With this plan you get a fixed 23% discount on the regulated tariff, but how much savings does this translate to every year? The answer: More than $300! (for a 5-Room HDB that uses 500 kWh every month)
Here’s the math…
b. ‘Chope’ the Rate (24 months)
Alternatively, if you prefer price certainty, you can select the ‘Chope’ the Rate plan that charges $0.164/kWh (or $0.1755/kWh, after GST), which is approximately 30% lower than the tariff rate of $0.2413 for Oct – Dec 2018.
c. iPromo – iPad (36 months)
Like to have a little extra to go with your savings? Get in on iSwitch’s iPromo plan to receive a complimentary iPad!
The first 500 homeowners from each zone (West & North West, East, North East, and Downtown) that sign up for this limited-time plan will stand to receive a complimentary iPad on top of a monthly 5% discount off the regulated tariff (exc. GST).
Even More Rewards & Bonuses!
Homeowners who sign up for any iSwitch plan online will also get Green-certified electricity at no extra cost (environment lovers rejoice!) along with the following perks:
• 1 x free air conditioning service
• Free 1-year AIA Personal Accident Protection
• Get 1% cash rebate on POSB Everyday Card
If you are an iSwitch customer, you can also stand to earn reward points that will grant you rebates on your monthly bill. For instance, renewing your plan earns you 100 points (or $10), while paying for your bill using GIRO nets you 25 points ($2.50).
Likewise, getting your friend/family/neighbour to sign up using your unique referral code will get you 500 points (equivalent to $50 bill rebate) for each household referred (limited to first 500 referrals)!
Make the Switch and Win 1 Year of Free Electricity!
Zero electricity bills for a year? No, it isn’t a gimmick. Join iSwitch’s Switch & Win contest and stand to be among the four lucky winners (one from each zone) to get free electricity for 12 months!
Participation is easy, simply sign up with iSwitch anytime from 1 November 2018 – 30 June 2019, and you will be automatically entered into this exciting contest. For more information, click here!
Easy to switch, easy to save! iSwitch, your electricity retailerWith the aim of helping homeowners save on their monthly bills, iSwitch offers attractive plans that provide affordable Green electricity. Head over to their official website or Facebook page to check out the latest deals!