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...

Take Advantage Of Big Data Plans

With the advent of social media, people are increasingly sharing their personal lives on Facebook and Instagram. Listening to their favourite podcasts or streaming videos to watch on the go have also become common entertainment outlets. As a result, they find themselves consuming more and more mobile data.

In response, telecommunication service providers have developed big data plans that are more suited for the consumption patterns of today. For instance, M1 was the first to re-introduce unlimited data mobile plans 5 years after they were phased out! By jumping onto the bandwagon, savvy mobile users can reap plenty of benefits with big data mobile plans.

No More Fretting Over Additional Data Charges

Do you recall the hassle of having to look for free Wi-Fi hotspots or switching off your mobile data completely when you realise that you are about to exceed your monthly data bundle? With big data mobile plans, you need not monitor your data usage excessively and worry about incurring excess data charges. You simply choose a mobile plan that best suits your data needs. Taking M1 Big Data Plans as an example, if you use data mainly for social media browsing, you can get a 5GB SIM-only plan at just S$20/mth. If that is still not enough for you, good news – there is also an option of Unlimited Data plan at S$98/mth.

It might also be better to pay a slightly higher monthly subscription to enjoy better value in data, as compared to paying excess data charges. For instance, M1 offers 15GB data at S$40/mth. With just an additional S$10/mth, you can enjoy 30GB for S$50/mth. That’s twice the amount of data! This is clearly better value than paying S$10.70/GB for excess charges.

Essentially, heavy mobile data users get more value for their money by utilising big data mobile plans as compared to paying excess data charges!

More Freedom To Do What You Love

Not only do mobile users get more data for their buck, they also no longer have to worry about incurring any excess charges with M1’s all-unlimited mobile plan. At only S$98 per month, subscribers get to enjoy unlimited data, talktime and SMS/MMS. This not only provides certainty with regards to their mobile bills, it also gives them plenty of freedom in fulfilling their mobile entertainment needs; they are free to surf popular social networking sites or stream their favourite music while on the move.

Sharing Of Big Data Plan

It gets even better as a family unit can tap and consume data from a single big data plan. For instance, M1 offers sharing of main plan bundle with up to 2 supplementary plans at just $12 per month each. This means that up to a total of 3 lines can tap from a single mobile plan; leading to great savings across the household. For example, a family of 3 can share a 30GB SIM-only plan at a total subscription of S$74/mth, which works out to 10GB for each to use at just S$24.67/mth. This offers greater value for money as compared to all of them having to subscribe to an individual 5GB plan at S$20/mth each.

For those who have multiple devices, simply subscribe to M1’s Multi-SIM service at only S$10.70 per month (per additional SIM card) to share data from the same mobile plan. This also brings convenience and seamless connectivity without having to switch SIM card, as you tap on 1 mobile plan across a maximum of 3 devices.

Bring Your Big Data Plan Overseas

With the increased availability and affordability of travel options, going overseas is becoming extremely common. Ever wondered how convenient it would be if you could use your local data when you travel? With M1’s offering of its Data Passport services, this is now possible in 62 destinations across Asia, Europe and United States from only S$10 per month! Simply activate Data Passport on M1 Big Data Plans whereby data roaming usage on the preferred overseas network can be deducted from your monthly local data bundle. Most importantly, subscribing to M1 Data Passport means that your existing local mobile data will not go to waste and you can continue to roam like you are home. Besides cost savings, Data Passport also offers the convenience of instant data connection upon touchdown. This beats the hassle of finding and purchasing prepaid SIM cards overseas or searching for Wi-Fi in public areas.

Hurry and switch to M1 Big Data plans to reap the myriad of benefits today!

 

 

 

 

 

 

 

Read More...

Zero X | The Only Mobile Plan You Will Ever Need

Make counting minutes, messages and megabytes a history with our Unlimited Everything Mobile Plan.

Sick of managing your mobile phone allowances? Tired of watching your back so you don’t get stung? Or have your already been a victim of bill shock for going over your monthly allowance?

Zero Mobile’s, Zero X Plan is the answer for you.

Zero X is a post-paid mobile service, connecting you on the best network in Singapore. It gives you Unlimited 4G Data on you mobile, Calls and SMS, to use within Singapore, for a promotional price of $65 per month only until 30th March 2018 (U.P. $75 p/mo).

Compared to similar offerings from other providers that cost around $100 per month with 12 month contracts, Zero X offers unbeatable value with no lock-in contracts.

To celebrate the launch of Zero X, we are also inviting our customers to April Treasure Hunt where you can play and win various prizes. Prizes include smartphones such as iPhone X or Samsung Galaxy S9, return flights for 2 to Australia, 6 months free usage and Gold Class movie tickets. Just because we are a mobile service provider, we don’t need to be boring.

We also continue to offer Zero 40, our $40 month-to-month service which includes unlimited calls in Singapore and 6GB of data. Zero Plus Rewards members get a total of 9GB data with additional 3GB added automatically each month. Unlimited SMS is offered as a bolt-on for a low $5 per month, or 5c per SMS sent for casual users. Again, all with no lock-in contracts.

Not only can our service provide you with great savings, it also lets you share the love by helping your friends and family save money too! Our unique rewards program is designed to give you, your friends and your family unbeaten value not just once, but month after month.

Zero Plus Rewards currently allows you to earn a cash bonus by simply referring a friend. Both you and your friend receive $60 credits each when you refer someone, applied at $5 p/mo over 12 months. Furthermore, your friend also has their SIM Card fee of $20 waived. Talk about getting your mates a good deal!

You can refer as many friends as you like and reduce your bill to $0 each month.

Why should I join now?

  • Get Unlimited 4G Data on your mobile, Calls and SMS at $75 $65 p/mo, that’s $10 per month off;
  • SIM card fee of $20 is waived specially for you. That’s another $20 in your pocket;
  • Join rewards and get a total of $140 in cash value to share with your friends;
  • Join our April Treasure Hunt and win loads of prizes; and
  • Quick activation and free delivery of SIM card to your home, don’t waste your time queuing up anymore.

Promotion available to first 3,000 subscribers to sign up by 30th March 2018. Head to www.zeromobile.com.sg to find out more and apply. It takes less than 1 minute, seriously.

Zero Mobile is a licensed mobile service provider focusing on new, innovative and affordable mobile technology in Singapore. As with all services in the market, Terms & Conditions and Fair Usage Policy applies. Read full details on our website.

 

Read More...

Clever Tips To Save Money On Your Mobile Bills

If one of your resolutions in 2018 is to reduce your expenses, a good place to start would be your monthly mobile bill. Do not underestimate the few dollars saved each month as they can add up to a significant amount at the end of the year.

Here are some clever tips to save money on your mobile bills!

Monitor Your Usage

The first step to reducing your mobile bill is to monitor your mobile usage. How much data, talktime and messaging do you use each month? Track your usage easily with your telco’s mobile app. For instance, M1 customers can download and use My M1 App to track their local or roaming data, talktime and message usage anytime, anywhere. If you are always exceeding your data, perhaps you can consider data add-ons, or switch to a mobile plan with bigger data bundles to reap plenty of savings in the long run.

If constant monitoring is too much of a hassle for you, opt-in for SMS notifications to be alerted when you are about to exceed your data bundle. M1, for example, sends you SMSes when you have reached 75%, 90% and 100% of your monthly data bundle.

Consider SIM-Only Plans

If you do not require a new phone, it’s time to consider SIM-only plans. These plans, as compared to conventional smartphone plans, come with lower subscription and bigger data bundles. M1’s SIM-only entry plan only costs S$20 per month for 5GB data, as compared to an equivalent smartphone plan at S$40 per month. By going with a SIM-only plan, you get to save S$240 over a year!

If you are hungry for more data, go for M1’s Unlimited SIM-only plan, which comes with unlimited data, talktime and messaging at only S$98 per month.

Save As A Family

Telco operators allow customers to maximize their mobile plan usage by sharing data, talktime and messaging bundles with their loved ones. For example, subscribers of M1’s mySIM plans can add up to 2 supplementary plans at S$12/month each to co-share the main plan’s bundles. Such supplementary plans will suit family members with various data consumption behaviour.  For instance, the millennial in the family may be a heavy user of social media and is therefore likely to use more data. Meanwhile, the stay-at-home mum may only require little amounts of data to stay connected via instant messaging platforms. By co-sharing the main plan’s bundle, this helps to consume pockets of data that would otherwise be left unutilized by the end of the month.

As such, if you have multiple devices in the family, this option of adding supplementary plans may work well for you too. When you share the big data bundles on mySIM plans between the devices, you’ll be able to gain access to all the entertainment you need!

Get Cash Rebate On Your Mobile Bills

Finally, the last step to saving on mobile bills is to get cash rebates on them! By using cashback credit cards to pay for your mobile bills, you can earn cashback or reward points that help to reduce your mobile bill. For instance, the Citi M1 Credit Card provides up to 10% Citi rebate if you set up recurring M1 bills via GIRO. Furthermore, charging your purchases at M1 stores earn 1% Citi Rebate.

Follow these handy tips to start saving money on your mobile bills in 2018!

Read More...

Here’s how much you may get when you sell your old iPhone to pay for the iPhone X

Singaporeans looking to support their iPhone habit would do well to heed Apple’s release schedule

SINGAPORE, MONDAY 25 SEPTEMBER 2017 – Now that the iPhone X is straying perilously close to costing an actual kidney, trading in your old iPhone to help defray the cost of a new one is a more popular option than ever. But because the market has a tendency to push prices down when there are more people looking to sell their old iPhones (a well-observed economic principle – price goes down when supply goes up), you wouldn’t know if the trade-in price offered at your telco or handphone shop is a good deal or not.

To help you avoid rip-offs, we asked everyone’s favourite online marketplace Carousell what your soon-to-be-replaced iPhone is worth on the second-hand market. Here’s what we found out.

iphone

What Do the Numbers Mean?

We apologise for triggering all the traumatic flashbacks of Statistics class you’re probably suffering right now. We wanted to make sure we dealt in scientific data, and not simply hearsay from a lazy walkabout at Tanjong Pagar Plaza. Quick explanation: The median price represents the midway point of each model’s price range. So in the case of the iPhone 7, 50% of all handsets were sold for more than S$820, and 50%, less than that. How much higher or lower? For that, we look at the numbers in the next two columns to the right. These give us a good idea of what low and high prices look like for that particular model. They do not represent the absolute lowest nor highest prices for each model. So, putting it all together: If you get offered S$800 for your iPhone 7, that’s a bit on the low side. S$850 to S$950 would be an ok price, and you shouldn’t hesitate to take any offers coming in at S$1,000 or more.

The Value of Older iPhones Declines Exponentially

Eyeballing the figures from Carousell, you can see that the value of your old iPhone suffers a dramatic decline after one generation. As at September 2017, an iPhone 7 commands a respectable median price. You’ll also notice that the spread between prices is still relatively tight.

But when it comes to an iPhone 6, the median price plunges by more than half. And it gets worse as we go down the ladder to older iPhone models, but you were probably expecting it anyway.

Actual Selling Prices Differ According to Condition

The actual price you will get for selling your old device will depend on a number of factors. Chief of these is the condition your handset is in. “While little scratches and scuffs aren’t deal-breakers – many of our users are upfront about these details and still successful in their sales – people will generally prefer and will pay more for iPhones in the best possible condition,” says Lucas Ngoo, Co-founder and CTO of Carousell. As you’d expect, a perfectly working model with all its original parts intact will fetch a higher price than one that had undergone part replacements. (Think about how damaged the internal circuitry must be after going through at shocks serious enough to shatter the screen.) If you can provide the original box and accessories (such as charging cable and adapter, and never-been-worn headphones) you can probably command top prices. And, because this is Apple we’re talking about, you can expect to charge a little higher for devices with larger storage.

Is it Worth Selling Your Old iPhone?

At this point, you may be wondering if it is even worth selling your old iPhone. The answer is: yes, especially if it’s the latest model. As Carousell’s data show, the iPhone 7 is trading hands at prices near to those of a brand-new set direct from the Apple store. This is probably as good as it gets. But even if all you have is an iPhone 6 or earlier, you can still sell it off and use the money to pay for other things you need or want. For example, while the S$60 you’ll get for selling your iPhone 4 puts nary a dent in what you have to pay for the iPhone X, you could still get a decent pair of shoes for it, or a new computer game.

A Result of Planned Obsolescence?

In case you’re not familiar with the term, planned obsolescence is an actual thing that manufacturers are doing. Basically, the products we buy are designed to last only up to a certain period. Beyond that, they are expected to fail. This practice corrals consumers onto a schedule for replacing the things that we’ve come to rely on. And it’s not just consumer electronics, car or light bulbs either. When it comes to iPhones, the message seems to be: keep up with Apple’s schedule; it’s the most rewarding way to enjoy their products. Especially in light of the record-breaking price of the iPhone X.

This article first appeared on SingSaver.com.sg.

Read Also: Receive up to S$150 worth of Grab vouchers from now till 15 Nov 17

Read More...