Chinese Essential: Electricity Energy Consumption

Friday, October 9, 2020

Electricity Energy Consumption

The open electricity market was commenced in the first half of 2018 in a few selected areas of Singapore and it covered the remaining areas in the second half of 2018. However, the pertinent question is whether Singaporeans should make the big switch or not. Here's a look at some factors that will help in deciding if you should change and choose a new supplier from the wide array of electricity retailers in Singapore:

Contribution Towards a Greener Earth:

The flexible electricity plans will help you to use less electricity during peak hours. The green electricity is gaining momentum amongst customers which helps in saving electricity and doing your bit to preserve Mother Nature. It not only benefits you by enabling you to save some money but also makes you a proud citizen by conserving electricity as well as preserving scarce natural resources.

Liberty to Choose:

You may be one of those who is more at night as you are at work during the daytime. It would be great if you could choose an energy consumption plan which has lower cost as your energy consumption is minimal during peak hour and more during off-peak hours.

Well, the good news is that you can certainly choose a plan to meet your requirements. There are plans for consumers who have higher electricity consumption at night. It offers a chance to save from 11: 00 pm to 7: 00 am by offering a fixed-rate or fixed discount off the tariff rate.

Enjoy Improved Services:

It is quite obvious that retailers will try to woo more and more consumers because of an increase in competition due to the open electricity market. They are sure to come up with attractive deals and packages to win more customers. You can benefit from some extra services provided by electricity retailers in Singapore such as extensive coverage from home insurance, 24/7 emergency home assistance and so much more.

Why Involve an Electric Broker?

If you think that you can approach electric suppliers and also study their price index and determine the factors that affect the electric price index then you don't need the help of any broker. But if you doubt that you won't be able to make mathematical calculations to get per unit price of electricity and also to determine your needs and find the best price for your business then you should involve a broker in the process.

How Will the Broker Charge for Service?

Electric brokers charge a fixed commission for his services but he can provide real help in determining the right price after comparing electricity prices in Texas. The broker will do all jobs from collecting data regarding price index and studying prices. The broker will take the responsibility of calculating the best price for your needs and also he will negotiate the best contract deal with one of the leading electric suppliers. His presence will ensure compliance with contract terms.

Who Should Be Your Consultant?

Be careful while choosing an electric broker as the success of your contract depends on his knowledge and experience. He will use his business connections to get the latest price index and negotiate contract duration and terms. Working with an experienced broker would be an advantage.

How to Get Started?

The Internet provides you endless options when it comes to choosing the best deal for your business energy needs. You can use price comparison sites to compare prices offered by different suppliers and choose the best deal for your business. Narrow down your choices to three to four companies that appear like a favorable choice and then compare them further to find out the best choice.

When to Change Your Existing Plan?

Some companies charge consumers an exit fee if they switch the supplier before the expiry of the contract. Therefore, before you change your service provider find out the date of the expiry of the contract. If you plan the switch at least two weeks before the end of the existing contract you are not liable to pay any termination fee. If yours is a variable rate plan then there are more chances that you won't be charged an exit fee.

Fixed-Rate Plan vs Variable-Rate Plan:

In a fixed-rate plan, you enter into a contract with the supplier for a specific period. This can vary from a few months to a few years. During this period you will be charged at a particular date that is not liable to any change before the expiry of the contract. Your bill for each month will depend on the amount of electricity you use. On the other hand, in the case of a variable rate plan, the cost of electricity will change every month. Some companies may lure you with attractive introductory offers that may change in a couple of months.

How Much Is the Minimum Usage Fee?

While some companies may charge you an additional amount if you do not use a certain amount of electricity others may offer you discounts if you exceed a certain level of usage. Whatever the case may be, make sure you confirm in advance whether your service provider charges a minimum usage fee to avoid surprise costs at the end of the month.