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5 Reasons Why Switching to an Electricity Retailer Benefits You

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The nation-wide roll-out of the Open Electricity Market (OEM) is on the horizon, and we can’t be more excited! There’s no better time to start planning how you want to buy your electricity. But if you’re unsure whether switching to a retailer is the right choice, here’s a list of benefits that could help you weigh your options.

Related: A Guide to Picking the Best Electricity Provider in Singapore to Suit Your Needs

1. Save up to 20% on your electricity bills

Most plans offered by retailers are generally cheaper compared to the regulated tariff. Furthermore, with so many retailers in the market, consumers stand to benefit even more from some healthy competition amongst retailers themselves, as it drives them to offer attractive price plans and discounts to boost sign-up rates.

Read: Best Credit Cards to Pay Your Recurring Bills

2. Win attractive promotions and freebies upon signup

Just as any other competitions, retailers often strive to outshine their opponents beyond just prices, by bundling in free gifts and other value-added services. Now is the best time to take advantage of this and grab those vouchers and freebies!

Check out: 8 Gadgets You Must Have To Make Your Home A Smart Home

3. Choose from more energy options

You now have the liberty to choose how you can power your home, either traditional or renewable energy. For environmentally-concerned consumers who want to play your part in promoting sustainable living, you can do so by purchasing clean energy from certified retailers.

Read also: Recycling Guide: Find out How to Recycle These 6 Most-Used Items

4. Gain freedom of choice and power of voice

Exercise your rights as a consumer; decide how you buy your electricity. With freedom of choice, comes the power of voice. Switching to a retailer allows you to interact and share your feedback. Subsequently, it will prompt them to improve their plans and services, to entice new and existing consumers to sign-up or re-contract.

5. Maximise savings through awareness of electricity consumption

Gone are the days where we can’t lay a finger on why our bill is so expensive; and even if we do figure out why we have no other choice but to pay.

Related: 52 Ways to Save Money in Singapore

The introduction of OEM has made us more conscious about how we consume electricity. From buying electricity at the regulated tariff from a single supplier, we can now choose between 3 different types of plans: fixed, discount off the regulated tariff, peak and off-peak.

To maximise savings, ultimately, it’s all about understanding your usage patterns and finding a plan that can cater to that need. This eventually leads to more considerate consumption, which saves cost and—hopefully—natural resources in the long run.

Check out: 8 Ways to Save on Home Appliances

While the process of switching has been made seamless, the comparison process isn’t as straightforward. Understanding your usage pattern is one thing, browsing through a long list and finding the right plan that meets all your needs is another.

You can bridge this gap by using Electrify, Singapore’s first marketplace for retail electricity, that allows consumers to compare electricity plans with ease.

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The post [Infographic] 6 Things to Learn About Money from Warren Buffett appeared first on algo investing.

algo investing is a leading online marketplace in Singapore that helps consumers compare and apply a credit card, personal loan, home loan, car loan and insurance.

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