Special Advertising Feature: When the Energy Market Authority (EMA) sanctioned private retailers via the Open Electricity Market (OEM) initiative to sell power, Singaporeans have had a growing list of electricity provides to choose from since November.
Words by Christopher Chitty
However, many remain unaware that options exist or are wary of the status quo shakeup. Regardless, those that have switched experienced up to 30% decrease in monthly electricity bills (contingent on picking the right retailer). Taking advantage of the OEM is easy as all you need to do is sign up with a provider of your choosing. That provider will handle the takeover process without you lifting a finger.
But why even consider the OEM in the first place?
It is a documented fact that Singapore is heating up twice as fast compared to the rest of the world. According to the Meteorological Service Singapore (MSS), we are one degree hotter today than in the 1950s with an average increase of 0.25 degree Celsius per decade. Already air-conditioners are ubiquitous; having become necessary in homes, malls and offices.
Even with an energy-savings unit, monthly electrical bills can reach around SGD180 or higher, when paired with other utility expenses like water and gas. With more deforestation and urbanization, this heating up process isn’t going away which means your efforts to cool your home will likely increase. As a result, more retailers in the market to choose give consumers the opportunity to take ownership of their bills and payment. It is similar to choosing one mobile provider over another.
A 30% savings therefore, is no small thing.
So the question then, isn’t why haven’t you taken advantage of the OEM. Instead, it’s whom you should pick. Ideally, you want a retailer who offers green energy but as electricity still runs through the common SP Grid, it’s difficult to determine the type of electricity provided at face value.
Enter Geneco; an electrical provider with a strong pedigree in providing clean and sustainable energy at affordable rates to residential developments.
Geneco offers two plans; Get it Green & Get Sunny, detailed here:
Get it Green
Carbon emissions are one of the many causes of rising heat. You’ve likely heard talk of reducing carbon footprint. The Get it Green plan is essentially this. It’s carbon-neutral, ensuring that the electricity you consume has net zero carbon emissions.
- How does it work?
This plan works on the basis of carbon credits, which are purchased and retired by Geneco on behalf of the consumer. The carbon units are tradeable with other organizations that own the appropriate certificates issued to projects that work toward reducing or removing carbon emissions from the atmosphere. The Green Plan is suitable for those who wish to offset their carbon footprint from the consumption of electricity.
- What does it cost?
The Get it Green plan is a contract duration of 12 months at a fixed rate of 19.26 cents per kWh.
Due to Singapore’s size and land constraints, constructing massive wind turbines or hydroelectric dams aren’t practical. Solar panels however, are doable. Geneco’s Get Sunny plan capitalises on Singapore’s abundant sunlight to provide clean, renewable energy to homes.
- How does it work?
Geneco’s Jurong Island facility generates solar energy via their Solar Photovoltaic system installed on rooftops, which is then injected into the national grid. The Get Sunny plan therefore, does not require your building or estate to have solar panels on the roof.
- What does it cost?
The Get Sunny plan costs 22.88 cents per kWh for a contract duration of 18 months. Due to Singapore’s land scarcity, relatively higher construction costs and other factors, the overall cost may be slightly higher here than in other nations. However, Geneco’s Get Sunny plan is one of the lowest-priced full Solar energy plans on the island.
What’s the difference between the Get it Green and Get Sunny plans?
The main difference between the Get it Green and Get Sunny plans, other than their price, is that the Get it Green plan serves to offset the carbon footprint from electricity consumption through the use of carbon credits.
The Get Sunny plan, on the other hand, is based on solar energy, generated through Geneco’s own solar system, and delivered to your home through the national grid without you needing solar panels on the roof of your building. Additionally, as solar power is carbon-neutral since it doesn’t produce greenhouse emissions, you can claim the use of renewable energy.
Green and lean
Both plans work toward an eco-friendly and sustainable framework so the choice on which to adopt is entirely up to you and your household requirements.
Regardless of which Geneco plan you pick however, you are ultimately choosing green energy for a cleaner environment. In the process, you save a significant sum of money over time. That’s a win-win!
For a limited time only, check out these special promotions (valid for first 5,000 sign-ups only!).
Get It Green
- Promo Code: GET30 [for $30 bill rebate]
- Promo Code: GET68 [for $68 bill rebate]
For more information on the promotions, click here. Find out more about the green plans here!