Six reasons to switch to this electricity provider

If one of your New Year's resolutions is to reduce your spending, here's where you can make significant savings: your electricity bill.

The soft launch of the Open Electricity Market (OEM) on April 1, 2018, to residents in the Jurong area allowed households to choose from different electricity providers offering various price plans. The OEM, which is introduced in stages, will be available to all Singapore households by May.

Under the OEM, consumers can choose the price plan that is best suited to their household's usage, instead of buying electricity at the regulated tariff.

And here are reasons why you should choose Keppel Electric for your electricity needs:

1. Significant savings on your electricity bill

Mr Faiz Haziq made the switch to Keppel Electric last August. Since then, the owner of a four-room HDB flat in Jurong West has saved up to 20 per cent on his bill.

"After careful research and comparisons, I chose Keppel Electric as it offers one of the lowest fixed rate plans," he says.

"My bill for May/June was $107.65 with 486kWh usage, but after switching to Keppel's FIXED24 plan, my Oct/Nov bill was only $72.75* with 440kWh usage. That's encouraging."

Another customer, Mr Victor Lok, who switched to the FIXED12 plan last April, has saved about $20 to $25 a month on his electricity bill for his five-room HDB flat in Taman Jurong.

"Initially, I was not too sure about the OEM. I chose Keppel Electric due to its pricing of 16.8 cents per kWh at that time and it was only a one-year contract, which attracted me to give it a try," he says.

Keppel Electric offers three types of price plans: FIXED, DOT (Discount Off Tariff) and KNIGHT.

- FIXED

The FIXED price plan is the most popular among customers as it offers the most savings with no price fluctuations. Eligible customers can choose a contract for 12, 24 or 36 months, and enjoy a fixed rate for the entire duration of their contract as opposed to paying the regulated tariff, which is adjusted every quarter.

Most customers, like Mr Faiz, choose the 24-month contract, which offers a fixed rate of 17.98 cents per kWh. This means that a typical five-room HDB household can expect to save a total of about $767* for the contracted period.

- DOT

The DOT price plan provides a fixed discount off the regulated electricity tariff. This means that no matter the cost of the regulated tariff, customers who sign up with this price plan will always get a discount during their contracted period.

Based on Keppel Electric's offering of 22 per cent discount, a five-room HDB household can save an estimated amount of $569* for the entire length of their contract.

Both DOT3 and DOT24 plans are 24-month contracts, while DOT3 offers more flexibility with its three-month lock-in period.

- KNIGHT

For those who use more electricity at night, consider the KNIGHT price plan, which offers greater savings during off-peak hours.

At a fixed rate of 20.20 cents per kWh from 7am to 11pm, and 16.16 cents per kWh beyond those hours, the plan gives a five-room HDB household savings of about $678* during a 24-month contract.

Note: The KNIGHT plan is a non-standard plan under the Energy Market Authority guidelines.

*Savings calculated above are based on the current regulated tariff from Jan 1 to Mar 31, 2019, at 25.52 cents/kWh (inclusive of GST). Keppel Electric price absorbs Carbon Tax and Transmission Loss Factor.

2. No need to install a new electricity meter

Don't worry about any perceived extra costs such as changing to a new type of meter as electricity bills are still read from the same cumulative meter that have been installed at most homes.

These meters are read once every two months to record a household's electricity usage.

There is, however, an option to change to an Advanced Metering Infrastructure (AMI), which are digital meters that can be tracked remotely and provide a more accurate reflection of actual consumption. Those who want to switch to an AMI meter will have to pay a one-time installation fee of $40, set by the Energy Market Authority.

3. Hassle-free transfer of account

It's convenient to switch providers as Keppel Electric manages all applications on behalf of customers.

It takes about two to three weeks for an electricity account to be transferred for those who keep their existing meter.

And during the transition period, there will be no disruption to your power supply.

For new homeowners who have yet to open an electricity account, they must first sign up with SP Group and receive the first bill before switching to Keppel Electric.

Note: It takes a maximum of five weeks should you opt to change to an AMI meter, and there will be a short, painless disruption that you will be informed of while the meter is changed.

4. Easy payment and billing

Once you've made the switch, just check out your first Keppel Electric bill to compare the money you save.

Over the months, the bill also reflects your electricity consumption so you can keep an eye of how much you are using and make adjustments where necessary.

Payment can be made via Giro, recurring credit or debit card payments, internet banking or at AXS machines.

5. Ready service

If you have queries about the price plans or making the switch, support is readily available via the hotline (6803-3000) and e-mail (enquiry@keppelelectric.com) during office hours, where trained sales and customer service agents are on hand to help.

For frequently asked questions such as transferring your account when moving homes or opting to go paperless, all you need to do is e-mail or call to get assistance from Keppel Electric.

Visit the FAQ page for more information.

6. Established brand

You are in good hands.

Keppel Electric has a wealth of experience powering Singapore's electricity grid. It has been supplying electricity to more than 30,000 customers - from multinational corporations to selected residential consumers - for over 17 years.

The company also prides itself as Singapore's first homegrown electricity retailer, and hopes to extend the same reliable experience it has been giving its commercial clients to residential customers islandwide.

Want to switch? All it takes are three simple steps:

1.SELECT the plan that caters to your needs.

2.REGISTER your particulars and household type.

3.SAVE on your electricity bills.

Enjoy an abundance of savings with Keppel Electric this Chinese New Year! Save 30 per cent off your electricity bill, plus receive free hongbao packets, a $20 bill rebate and $0 security deposit. While stocks last.

Sign up at www.keppelelectric.com or visit a roadshow for more details.

This article was brought to you by Keppel Electric. Life just got brighter.