Be An Informed Consumer When Choosing Your Electricity Price Plan

Currently, residential consumers (like you and I) can buy electricity only from SP Group. This will gradually change as the Energy Market Authority (EMA) sets its sights on further opening up of the electricity market. This will allow households to buy electricity from a retailer at a price plan that best meets their needs.

Since the soft launch of the Open Electricity Market (OEM) in April 2018, those staying in Jurong enjoy more choices and flexibility when it comes to buying electricity, thanks to more competitive pricing and innovative offers. It will roll out progressively in four geographical zones starting from 1 November 2018.

With different price plans available, choosing one that best suits your needs may come across as daunting. We are here to help you make an informed decision. This is no different from selecting a mobile phone plan from telcos where users are encouraged to pick a plan that best suit their needs.

What are the types of standard price plans?

First, let us take a look at the standard price plans available. At present, there are a total of 13 retailers offering over 60 standard price plans for residential consumers. These fall under one of the following 2 types:

    • Fixed Price – Consumer pays a fixed rate throughout the duration of the contract.

    • Discount Off the Regulated Tariff – Consumer enjoys a fixed discount off the regulated tariff throughout the duration of the contract.

How to go about choosing a price plan?

Now that you are aware of the types of standard price plans available, what should you keep in mind when choosing a plan? Here is a comparison of the 2 standard price plans offered by 13 electricity retailers.

Plans stated are accurate as of 8 November 2018 and are subject to change. For the latest price plans, please visit www.openelectricitymarket.sg or the retailers’ websites directly.

A. Fixed Price Plan

If you opt for a Fixed Price Plan, you will pay a constant rate per kilowatt hour for your electricity during the contract period.

The advantage of this price plan is that you are assured of the same rate every month throughout your contract with your retailer, i.e. more price certainty. Do note that the rate the retailer offers may be higher or lower than the regulated tariff which is reviewed every quarter.

As of 8 November 2018, Sunseap offers the best rate for 6-month contract, while SembCorp Power has the best rate for 1-year contract and both SembCorp Power and Geneco offers the best rate for 2-year contract.

B. Discount Off The Regulated Tariff Plan

If you are someone who does not want to think too much about price movements and wishes to pay less than the regulated tariff, a Discount Off the Regulated Tariff Plan may be the plan for you. Here, the rate will always be based on a fixed discount off the regulated tariff. The catch is, unlike the Fixed Price Plan, the rate may change each quarter during the contract duration.

As of 8 November 2018, Sunseap offers the best rate for 6-month contract, while Diamond Electric has the best 1-year contract and ES Power has the best rate for 2-year contract for a Discount Off the Regulated Tariff Price Plan.

As with making any comparisons for the best deal, it is important to read the fine print. Before you select a price plan, do consider these key areas:

  • The contract duration that you are willing to be locked in;
  • The amount of security deposit needed;
  • Whether there are any early contract termination charges and if so, how much;
  • The billing and payment arrangement offered by the retailers; and
  • Whether there are any bundled services or products or other additional perks offered, and to be aware of the terms and conditions associated with these perks.

The rates stated in the standard price plans should be inclusive of all charges for electricity consumption such as Transmission Loss Factor (a fee to account for network and transformer losses in the course of delivering electricity to consumers).

What else you should know when choosing a standard price plan?

While you may enjoy savings as a result of buying from a retailer, the amount you save could vary based on when you use electricity and how much electricity you eventually use. Of course, the type of standard price plan you choose plays a role as well.

Even after switching to a retailer, you can always switch back to buying electricity from SP Group at the regulated tariff. However, you might want to take note of any early termination charges levied by your retailer.

Finally, if you have any dispute with your electricity retailer (we hope not), you can always approach the Consumer Association of Singapore (CASE) for advice and assistance.

For price comparisons, please refer to www.openelectricitymarket.sg

Note: This article has been updated on 8 November 2018 to reflect the 2 standard price plans (instead of 3) with the latest pricing, and the inclusion of 2 new added retailers ES Power and Union Power.

Read More...

Free Activities To Do Alone In Singapore

Whether Singapore is the most expensive city in the world or not, you should be able to explore the country freely. Take it in the most literal sense!

#1: DEDICATE A DAY FOR THE ARTS

As a concrete jungle, Singapore does not have numerous natural attractions. However, it boasts its variety of exhibitions and museums. Where can you begin your creative journey? Consider visiting the National Museum of Singapore. Its the country’s oldest museum. Then, you may hop a ride to Singapore Art Museum. Its contemporary take on art will warm your hearts. Lastly, you may visit a museum that features Asian cultures in a humble light. I am referring to the Asian Civilisations Museum, which overlooks the Singapore River.

Image Credits: pixabay.com

Enjoy free admissions to these museums by presenting your NRIC to validate that you are either a Singaporean or a Permanent Resident.

#2: TAKE A TRIP DOWN HISTORY

Take some time to explore the historic route of the first HDB developed town – Toa Payoh. You may explore the facilities inside the Toa Payoh Sports Complex. Did you know that the 1973 South East Asian Peninsular Games was held there? As a resident of Toa Payoh, I can attest how efficient and convenient it is to have a wealth of fitness facilities close-by.

Adults with a youthful spirit can feel nostalgia by visiting playgrounds with soft sands. Relive your joyful childhood memories by walking or running in the Toa Payoh’s dragon playground. After all, it is the last of its kind!

#3: TAKE CARE OF ANIMALS

Making a difference starts with a single step. As an animal lover, you may leave a mark by helping a cause that houses abandoned animals. Said furry friends have physical and emotional well being too. It is time to give the support that they need! Volunteer at the Society for the Prevention of Cruelty to Animals.

Volunteering to causes such as this one is not a piece of cake! It requires a ton of patience, commitment, and passion for animals. Are you up for that?

#4: SHOP AT THE REALLY REALLY FREE MARKET

You read that right! One of the country’s beloved flea markets is the the Singapore Really Really Free Market (SRRFM). SRRFM welcomes anyone to sell their goods or services by setting up their own stall. You are encouraged to roam around to experience different treats along the way.

Image Credits: facebook.com/srrfm

Who knows what gems await you? Will you be able to hunt old vinyls or vintage clothing? There is only one way to find out! Head to the next event by following their Facebook page.

Read More...

Some of your questions about the GSS – answered.

It’s hard to believe how many saving opportunities there are within just one year. There’s Black Friday weekend, pre-Christmas period, post-holiday time and there is this: the Great Singapore Sale. What is it about and is there anything you still don’t know?

Fact 1: More is more

The Great Singapore Sale is so much more than just the sales. Over the recent years, it has grown so much that both the stores and the city itself organise concerts, lucky draws and other attractive activities for locals and tourists. Instead of mere shopping sprees, it’s an excellent opportunity to meet new people, immerse yourself in the local culture and see what’s happening in other parts of the city.

So who’s participating? The simple answer is: anyone who’s trading can take part in the GSS and offer their customers deals and discounts. Registration is not necessary, and there is always a possibility that your favourite store is taking part. Currently, online shops, such as Zalora give their users opportunities to save tons of money on luxurious products from top brands with discount codes and seasonal markdowns.

Fact 2: What purpose does it serve?

For any group invested in the event, the answer is different. On the one hand, the economy needs our taxes to thrive. The more we spend, the more taxes merchants pay and this is directly reflected in the services we receive as locals. For shoppers, it’s a wonderful opportunity to stock on all kinds of goods, from fashion to house appliances. Some people don’t buy anything throughout the year and do all the shopping from June to August. Finally, it’s a fantastic opportunity for local businesses to advertise their services to locals and tourists. If you love their products, chances are you will return before the next year’s GSS. What if you have no time for shopping due to a busy schedule? Anyone can stay updated at all times thanks to the event’s official app.

Fact 3: Why is it so long?

It all started in 1993, and before 2016, the event lasted for only a few weeks. However, it was proven that tourists from other countries, like China, often visited Singapore and would have benefitted from taking part in the GSS. This is why the year 2016 was the first one where the shopping spree was extended to ten weeks. This year’s event started on the 8th of June and is scheduled to end on the 12th of August. There is still plenty of time, but stocks don’t always last for too long at these prices. Of course, those who reside in other countries can take advantage of international shipping offered by many stores. In Singapore, on the other hand, Lazada brings many household items and gadgets with the Great Singapore Sale for less.

Fact 4: How can you make it more convenient for yourself?

In the past, you wouldn’t have known about the sales unless you went to the store or someone you know had told you about them. Fortunately, with online shopping, it’s no longer the case. The Internet gives infinite opportunities to all shoppers who want to get the best value for the smallest money. Most of the shops, even those which carry luxurious goods, now offer online sales to shoppers. What is more, they can be found both on- and offline. If someone prefers to go to the shop, they can view the information on promotions on the internet and then check them out in person. Those who like to stay online can visit discount websites, such as Picodi which gathers all those fantastic GSS bargains in one place.

As you can see, there is always something to learn about The Great Singapore Sale and the fact it’s getting bigger and bigger every year only shows that the sky truly is the limit. With the right attitude and a little planning, you can furnish your house, restock your closet and buy all essentials for your upcoming baby. All of that for considerably less money.

Read More...

3 Car Accessories Worth Spending On

1. DASHBOARD CAMERAS

UNIQUE SELLING POINT: A dashboard camera has the ability to record any unforeseen events.

PRODUCT PRICE RANGE: Quality dashboard cameras can cost you hundreds of dollars. However, the cheapest one I saw was S$10 in Lazada.

The dashboard camera, better known as dash cam, is an on-board camera that continuously records the view of the vehicle’s exterior or interior. It can be attached in many spots including on the dashboard or on the windshield. Due to its suction cup or adhesive mount, dash cams are movable. Find a spot that will not obstruct your view while you drive.

Image Credits: Paul Townsend via flicker.com/creativecommons

Dash cams are useful for a variety of reasons. Firstly, it allows you to keep track of the exact location of your vehicle and the route it has taken. Secondly, it is your first line of defense when claiming insurance. It can record suspicious activities while you are parking or driving. Imagine capturing a video of a perpetrator vandalizing your car in the mall’s parking lot! A newbie driver will surely benefit from this feature.

2. PARKING SENSORS

UNIQUE SELLING POINT: Parking sensors covers your blind spots by detecting the obstacles while you park.

PRODUCT PRICE RANGE: The company Singtech produces parking sensors that go for as low as S$15 and as high as S$90. Each product has its own special features.

I have to admit! As a novice driver, parking is the area that I lack strength on. It is challenging for me to measure the approximate distances of each stationary car without having the help of a guide or a sensor. I am referring to the trusty parking sensors. These are proximity sensors for road vehicles, which are designed to alert its drivers of the obstacles ahead.

Whether you are choosing an electromagnetic or an ultrasonic device, a parking sensor is one of the optional car accessories that you must consider. You see, even veteran drivers have a lapse in judgement in difficult parking spaces. Having an SUV fit through a narrow space through parallel parking is another challenge! I cannot stress how large cars can benefit from installing said sensors. Preventing an accident or two can make your life easier.

3. BLUETOOTH CAR KIT

UNIQUE SELLING POINT: Bluetooth car kits provide a wireless mode of communication and entertainment throughout your journey.

PRODUCT PRICE RANGE: Bluetooth car kits are sold as low as S$8 at Lazada. While, premium quality devices are sold for S$80 and above.

The recent amendments in the Road Traffic Act entail a wider scope of restrictions on the usage of mobile devices while driving. Any driver caught holding hand-held equipment can be found guilty of committing an offense. The market has thought of a solution to combat this. Said solution is by using a hands-free connection such as Bluetooth.

With modern technology, Bluetooth provides a standard for wireless communication. It allows its users to talk while on the move without having to hold a physical equipment. This feature is worth investing on especially if you are fond of navigating through the city while listening to music or while answering important phone calls.

As I search the web for credible and affordable Bluetooth car kits, I found the brands Kinivo and Jabra. Kinivo (available in Amazon for US$35.99 or about S$50) gets power from the car’s cigarette lighter and connects to your radio through an auxiliary jack. It allows you to manage your playlist and acts as a speakerphone during calls. Thanks to its built-in microphone!

Let us move on to the user-friendly Jabra Drive. Jabra Drive’s voice-guided instructions tell you how to connect to your mobile phone. This Bluetooth car kit allows you to use the dedicated control buttons to answer calls. Furthermore, it lets you play your tunes too. It retails for a whopping S$98!

Image Credits: pixabay.com

Sometimes, a car’s extra features depend on the individual’s preferences. Are there any car accessory that we missed? Let us know in the comment section below.

Read More...

Father’s Day Gifts To Make This Instant

You do not have to burn your allowance to show how special your father is!

On that note, here are some DIY gift ideas that you can make at the last minute:

#1: A MONEY TREE

I have to admit! Men can be tough to shop for at times. For instance, my father has a set of criteria clothing articles. Everything he purchases must tick all the boxes! To prevent disappointing him, it is easier to hand over some cash. Do you agree?

If you are looking for an original way to give cash, you may design a “money tree”. A money tree is a tabletop arrangement decorated with Singapore dollar bills. Said dollar bills can be folded into flowers or leaves. Try the easy peasy money tree by SunburstGifts.

Image Credits: www.sunburstgifts.org

#2: A BASKET OF SWEETS

Satisfy your husband or father’s sweet tooth by creating the “perfect basket” filled with his favorite treats. Gather his guilty and paste the free printables by The 36th Avenue. Other materials that you will need include: a basket or container, a picture frame, and a paper straw. All these can be purchased affordably at Daiso.

Image Credits: www.the36thavenue.com

#3: A DAD AWARD

It goes without saying that adults crave for recognition as much as children do. Show how much you appreciate your father’s or spouse’s efforts and sacrifices by making a golden medal. Small Fry blog started with whipping small paper plates, glue, gold paint, and a template together. Begin by printing the free template. Then, put the small paper plates together and attach the decorations.

Image Credits: www.smallfryblog.com

Putting the paper plates side-by-side adds a cool dimension to it. While, the golden accents add prestige.

#4: A DADDY TIE

The “daddy tie” is my favorite homemade gift on this list. For fathers who have been working on their 9-5 jobs, you may delight them with cards that can be worn. Add a sentimental value to your gift by allowing your little ones to complete the project with you.

The daddy tie can be completed in 5 minutes or less. Simply download and print the free template on craftingchicks.com. Cut and fold the edges according to the instructions. Then, fill out the questionnaire with your children. I can only imagine their cute handwritings!

Daddy Ties free Father’s Day printable

Read More...