In the area of long term cost savings discussed previously, switching energy retailers in the Open Electricity Market still contributes to a reduction on your electrical bills. As a producer of your own energy, you are not as affected by upheavals in the OEM. You may however still have this thorn of a question in your side: “As a solar owner, should I switch retailers in the OEM?”

Below are the 2 things you really need to know!

To know your path, you must first ask yourself: DOES YOUR PV SYSTEM PRODUCE MORE THAN YOU CONSUME AND DO YOU EXPORT ELECTRICITY BACK TO THE GRID?

If your answer is YES:

You should not switch energy retailers.

Sticking with SP will give you a better sell-back rate and return. The USEP (Uniform Singapore Energy Price) rates for selling back electricity from other electricity retailers are based on their lower consumer rates.

Here is a quick example:

     If SP charges you 23 cents/kWh, you sell back at roughly 19 cents/kWh.*

     If the electricity retailer charges you 18 cents/kWh, you sell back at roughly 12 cents/kWh.*

*Based on EMA’s rate of the prevailing regulated tariff less grid charge for excess EG output injected into the grid and the consumer’s contestable determination. EMA’s sell-back schemes (SCT, ECIS, CIS, DMP)

If your answer is NO:

You should switch energy retailers.

As you do not export electricity back to the grid, all you need to think about is the amount of electricity you are using when the sun doesn’t shine. Switching electricity retailers will further reduce your bills as the remaining power that you buy is at a better rate with an electricity retailer.

Here is a quick example:

Your beautiful solar energy system reduces your monthly electricity consumption to 1000kWh.**

     If SP charges you 23 cents/kWh, you pay $230 per month for electricity.**

     If the electricity retailer charges you 18 cents/kWh, you pay $180 per month for electricity.

**Based on EMA’s quarterly electricity tariff. Save on bills, save the environment. Make The Switch.