Updated 16 October 2026: five of Singapore's six retailers now charge 29.00¢/kWh on 24 months against SP's 31.16¢ tariff, and Tuas Power went the other way to 30.90¢. Geneco extended GENECO200 ($200 for SP customers) to 2 November, PacificLight launched GETBACK24 ($228, first 100, to 31 December) and Senoko still leads on gifts. A 4-room flat nets about $102.86 a month at Geneco over two years, against $121.94 on the tariff.
Five of Singapore's six electricity retailers now charge the same 29.00¢/kWh on 24 months, against SP's 31.16¢ tariff.
> Quick view: coming off the SP tariff, Geneco pays the most cash (up to $255, GENECO200 to 2 November), about $102.86 a month net for a 4-room flat. Already with a retailer? PacificLight's GETBACK24 ($228, first 100 only) wins. Tuas is now dearer at 30.90¢.
PRICE: Get It Fixed 24 is 29.00¢/kWh, confirmed on 16 October 2026 on EMA's portal and on Geneco's own plan page, the same rate as four rivals.THE DEAL: Coming off the SP tariff, code GENECO200 pays a $200 bill rebate, and a $20 referral plus up to $35 in card rebates take it to the portal's "up to $255". Over 24 months a 4-room household nets about $2,469, or $102.86 a month, the best cash deal in the market.FINE PRINT: Geneco's T&C PDF, reissued on 15 October, runs GENECO200 (first 3,350) and GENECO100 ($100 for everyone else, first 300) from 1 September to 2 November 2026. If you are already with another retailer you get only $155 in total, about $107.03 a month, behind PacificLight's GETBACK24.PRICE MATCH: Geneco says that if you find a lower price within seven working days of signing up, it refunds the difference on your bill for the contract duration.OTHER PLANS: Get It Fixed 12 is 30.50¢ with $15 on GENECO15 (first 250, to 2 November), Give Us A Try is 31.00¢ on six months, and Get It 7 To 7 is 27.90¢ from 7pm to 7am against 32.50¢ by day, with the $43.60 meter fee absorbed for first-time sign-ups.BEST FOR: SP-tariff households who want the most cash with no gift to value.
Get It Fixed 24 at 29.00¢/kWh with up to $255 in rebates plus a Price Match Guarantee; GENECO200 pays $200 to the first 3,350 SP customers and GENECO100 pays $100 to the first 300 of everyone else, both to 2 Nov 2026
Valid till 2 Nov 2026
PRICE: Savvy Saver 24 is 29.00¢/kWh, cut from 29.80¢ on 8 October and confirmed on EMA's portal and PacificLight's plans page on 16 October. Savvy Saver 36 is 28.90¢.THE DEAL: ATE 2026 ended on 11 October and was replaced on 15 October by GETBACK24, a $228 rebate on your third bill for any 24-month plan, plus $20 with a referral code. That nets a 4-room household about $103.15 a month, a hair behind Geneco for SP switchers but the best cash for anyone already with another retailer, because it is open to every new customer. GETBACK36 pays $268 on 36 months.FINE PRINT: each code is capped at the first 100 successful new sign-ups and runs to 31 December 2026; sign-ups by 26 February 2027 also enter a draw for an extra $88.ALTERNATIVES: YUU24 pays $50 plus 10,000 yuu Points (first 500, to 26 October), MBBON140 pays $140 on a Maybank card (first 40), and BONUSFLY24 adds KrisFlyer miles.NO-CONTRACT PLANS: Easy Peasy is now 27.00¢ plus 55¢ a day, 9 to 9 is 20.05¢ overnight and 36.95¢ by day plus $1.01 a day, and Easy Save is 18% off the tariff plus 55¢ a day, which is the cheapest of the three for most homes. Read the daily charge section below the cards before choosing one.BEST FOR: households already with another retailer, and anyone who wants a no-contract option.
Savvy Saver 24 at 29.00¢/kWh; GETBACK24 pays a $228 rebate (first 100 new sign-ups, 15 Oct to 31 Dec 2026) plus $20 with a referral code; GETBACK36 pays $268 on 36 months
Code: GETBACK24
Valid till 31 Dec 2026
PRICE: LifePower24 is 29.00¢/kWh and LifePower36 28.90¢, both on Senoko's own price-plan page on 16 October, with LifePower24 matching EMA's portal.THE DEAL: the portal's "up to $279" is a $259 TTRacing Duo V4 gaming chair on GIRO (code GIROBCRC, to 31 December) plus a $20 referral, which on paper nets about $101.86 a month for a 4-room flat. Other 24-month gifts are a $208 Shark Steam Mop, a $199 doobsta' bean bag and a $149 La Gourmet multi-cooker.CASH CODES: renamed for the fourth quarter, MBBC130 (Maybank) and TGBGN130 (Tiger BOSS) pay $130 on 24 months, GIROBC100 pays $100 and BC60 pays $60 without recurring payments. With a referral, the $130 codes net about $107.24 a month.36 MONTHS: a two-piece Samsonite Oc2lite set worth $680 plus up to $50 on a Trust card (TBBCSB30B, first 1,000, to 31 December), a $408 Ninja Foodi Airgrill, a $299 Ninja air fryer, a $279 Shark fan or a $218 SMEG kettle on GIRO, or MBBC180 for $180 cash.OTHER PLANS: LifeSteady24 tracks 1.64¢ off the tariff (about 29.52¢ today), LifeGreen24 is 29.68¢ with 100% RECs, and LifeSavvy24 has the lowest off-peak rate in Singapore at 20.05¢ overnight.BEST FOR: households who genuinely want one of the gifts, or the Samsonite set on 36 months.
LifePower24 at 29.00¢/kWh with up to $279 in gifts and rebates; on 36 months, a $680 Samsonite set plus up to $50 on a Trust card (TBBCSB30B, first 1,000, to 31 Dec 2026)
PRICE: FIXED24 is 29.00¢/kWh and FIXED36 28.90¢, read off Keppel's own price-plan page and plan data on 16 October, with FIXED24 matching EMA's portal.THE DEAL: code NEW125 pays $125 on FIXED24 and a Maybank recurring card payment adds up to $20, so $145 in total, about $107.44 a month for a 4-room flat. FIXED36 takes NEW100 for $100 plus the same card rebate. Keppel's system also accepts VOLT100, COOL100 and POWER100 at $100 each, all valid to 1 January 2027, but only one code applies, so use NEW125.REFERRAL RATE: FIXED24 Special is 28.50¢, the lowest 24-month rate anywhere, but it needs a referral code and carries only up to $45. The lower rate saves about $47 over the contract, so it ends up roughly $53 behind a plain FIXED24. GONE: SURESAVE DOT, the 12%-off-tariff no-contract plan for SP switchers, no longer appears on Keppel's sign-up page or in its plan data.FINE PRINT: FIXED12 is 31.15¢, one-hundredth of a cent below the tariff for a year's lock-in, and WEEKEND SAVER (27.90¢ nights and weekends, 39.90¢ weekday daytime) needs a smart meter that Keppel charges $43.60 to install.BEST FOR: households who already prefer Keppel, or who hold a FIXED24 Special referral code.
FIXED24 at 29.00¢/kWh with $125 on code NEW125 plus up to $20 card rebate (to 1 Jan 2027); FIXED36 at 28.90¢ with NEW100
Valid till 1 Jan 2027
PRICE: the 24M Fixed Price Plan Home is 29.00¢/kWh and the 12M plan 31.00¢, both back on EMA's portal on 16 October 2026 after dropping off it in early October. Sembcorp's own site blocks automated reads, so the portal is the source here.THE CATCH: neither plan carries a sign-up incentive. You pay exactly what a Geneco, Senoko or PacificLight customer pays while leaving up to $279 on the table: about $2,724 over 24 months for a 4-room flat, against $2,469 at Geneco or $2,476 at PacificLight.THE CASE FOR IT: Sembcorp's plans are the plainest in the market, with no gift catalogue to value, no bank-card condition and no cap on the first hundred sign-ups. Sembcorp Industries is a Singapore-listed energy group and one of the country's largest generators.BEST FOR: anyone who values a simple contract with a major local operator over the rebate, which is a choice that costs real money today.
24M Fixed Price Plan Home at 29.00¢/kWh on EMA's portal (16 Oct 2026), the same rate as four rivals, but still the only 29.00¢ retailer with no sign-up rebate
PRICE: Tuas Power went against the market. Its plans page on 16 October lists PowerFIX 24 at 30.90¢/kWh and PowerFIX 36 at 30.63¢, up from 29.80¢ and 29.40¢, while every rival cut to 29.00¢ or 28.90¢. EMA's portal shows the same 30.90¢.THE DEAL: code ONLINE still pays $100 on PowerFIX 24 and $160 on PowerFIX 36. Over 24 months a 4-room household pays about $2,902 before the rebate, or $116.75 a month net, last of the six and only about $5 a month below doing nothing. GONE: PowerDOT 6, the 10%-off-tariff six-month plan, is no longer on Tuas's plans page.THE CASE FOR IT: every PowerFIX plan is billed as "Same SP Bill", so you keep one consolidated SP Group bill instead of a second billing relationship, and sign-ups still get 12 months of free Singlife home, travel or personal accident cover.OTHER PLANS: PowerFIX 12 is 31.15¢, and PowerFIX 25 G+ is a 25-month green plan at 32.70¢ with $100 on ONGREEN.BEST FOR: households who will pay about $14 a month more than the cheapest rival to avoid a second bill.
PowerFIX 24 now 30.90¢/kWh (up from 29.80¢) with $100 on code ONLINE and the same SP bill; PowerFIX 36 is 30.63¢ with $160
This is the default, and for most households it is still the status quo: as of 1 June 2026, about 62.8% of households were buying at the regulated tariff and only 37.1% were on an Open Electricity Market plan. For 1 October to 31 December 2026 that tariff is 31.16¢/kWh with GST, or 28.59¢ before GST, down 10.4% from the record 34.78¢ of July to September. It is made up of energy costs (22.18¢, down from 25.50¢), network costs (6.10¢), the market support services fee (0.23¢) and the market admin and power system operation fee (0.08¢), all before GST, per SP Group's own tariff page. Its one real advantage is that there is no contract and no early-termination fee, and the rate is revised every quarter, so it falls when fuel prices fall, as it just did. Its disadvantage is now much smaller: it is 2.16¢/kWh more than the 29.00¢ that Geneco, Keppel, PacificLight, Sembcorp and Senoko charge on 24 months, about $8.45 a month for a 4-room flat on EMA's current 391.3 kWh average, or $101 a year before any sign-up rebate. Only Tuas Power, now at 30.90¢, comes close to the tariff. Note that staying on the tariff is not what protects your U-Save rebate: that is credited to your SP Services account regardless of which retailer you buy electricity from, so switching costs you nothing there. Switching also does not change your wiring, your meter or your supply reliability. The electricity is physically identical, SP Group still operates the grid, and nothing gets cut off during the switch.
31.16¢/kWh incl. GST (28.59¢ before GST) for 1 Oct to 31 Dec 2026, down 10.4% from 34.78¢; no contract and revised quarterly, now 2.16¢ above the 29.00¢ 24-month plans from five of the six retailers
| Retailer | Plan | Rate (incl. GST) | Term | Est. bill (4-room) | Sign-up rebate |
|---|---|---|---|---|---|
| Keppel Electric | FIXED24 Special (referral code required, own site only) | 28.50¢/kWh | 24 mths | $111.53 | Up to $45 ($20 card + $25 referral) |
| PacificLight | Savvy Saver 36 (own site only) | 28.90¢/kWh | 36 mths | $113.09 | $268 with GETBACK36, first 100, to 31 Dec, + $20 referral |
| Senoko Energy | LifePower36 (own site only) | 28.90¢/kWh | 36 mths | $113.09 | Gift-led: $680 Samsonite set + $30 on Trust card (TBBCSB30B, first 1,000, to 31 Dec), or $180 cash (MBBC180) |
| Keppel Electric | FIXED36 (own site only) | 28.90¢/kWh | 36 mths | $113.09 | Up to $120 (NEW100 + $20 card) |
| Geneco | Get It Fixed 24 | 29.00¢/kWh | 24 mths | $113.49 | $200 for SP customers (GENECO200, first 3,350) or $100 for others (GENECO100, first 300), to 2 Nov; up to $255 with referral and card |
| PacificLight | Savvy Saver 24 | 29.00¢/kWh | 24 mths | $113.49 | $228 with GETBACK24, first 100, to 31 Dec, + $20 referral |
| Senoko Energy | LifePower24 | 29.00¢/kWh | 24 mths | $113.49 | Up to $279 in gifts & rebates; best cash is $130 on a Maybank or Tiger BOSS card |
| Keppel Electric | FIXED24 | 29.00¢/kWh | 24 mths | $113.49 | $125 bill rebate (NEW125) + $20 card rebate |
| Sembcorp Power | 24M Fixed Price Plan Home | 29.00¢/kWh | 24 mths | $113.49 | None listed |
| PacificLight | Stack It Up 24 (tiered by usage, own site only) | 29.20¢ / 28.60¢ / 27.60¢ | 24 mths | $113.72 | GETBACK24 $228, first 100, to 31 Dec |
| Senoko Energy | LifeSteady24 (cents off tariff) | Tariff minus 1.64¢ (29.52¢ today) | 24 mths | $115.52 | Up to $279 in gifts & rebates |
| Senoko Energy | LifeGreen24 (100% RECs) | 29.68¢/kWh | 24 mths | $116.15 | Up to $279 in gifts & rebates |
| PacificLight | Easy Save (no contract, own site only) | 18% off tariff (25.55¢) + 55¢/day | None | $116.73 | No promo codes allowed on this plan |
| Senoko Energy | LifePower12 | 30.50¢/kWh | 12 mths | $119.36 | Up to $169 in gifts & rebates |
| Geneco | Get It Fixed 12 | 30.50¢/kWh | 12 mths | $119.36 | $15 with GENECO15, first 250, to 2 Nov |
| PacificLight | Savvy Saver 12 | 30.50¢/kWh | 12 mths | $119.36 | Up to $10 bill rebate |
| Tuas Power | PowerFIX 36 (own site only) | 30.63¢/kWh | 36 mths | $119.86 | $160 with code ONLINE |
| Tuas Power | PowerFIX 24 | 30.90¢/kWh | 24 mths | $120.92 | $100 with code ONLINE, + same SP bill |
| Geneco | Give Us A Try | 31.00¢/kWh | 6 mths | $121.31 | No promo or referral code |
| PacificLight | Sunny Side-Up 12 (RECs) | 31.00¢/kWh | 12 mths | $121.31 | Up to $10 bill rebate |
| Sembcorp Power | 12M Fixed Price Plan Home | 31.00¢/kWh | 12 mths | $121.31 | None listed |
| Keppel Electric | FIXED12 (barely below tariff) | 31.15¢/kWh | 12 mths | $121.90 | Up to $10 bill rebate |
| Tuas Power | PowerFIX 12 | 31.15¢/kWh | 12 mths | $121.90 | Same SP bill |
| SP Group | Regulated tariff (do nothing) | 31.16¢/kWh | No contract | $121.94 | None |
| PacificLight | Easy Peasy (no contract, own site only) | 27.00¢/kWh + 55¢/day | None | $122.40 | No promo codes allowed on this plan |
| Tuas Power | PowerFIX 25 G+ (green, own site only) | 32.70¢/kWh | 25 mths | $127.96 | $100 with code ONGREEN |
Re-pulled on 16 October 2026 from EMA's price-comparison portal and each retailer's own site:
Against the 31.16¢ tariff, the 29.00¢ 24-month rate is 2.16¢/kWh cheaper, or 6.9% off, and the 28.90¢ three-year rate is 2.26¢ cheaper, 7.3% off. Tuas Power's 30.90¢ is only 0.26¢ cheaper, about $1.02 a month for a 4-room flat. Using EMA's current national average monthly consumption for each home type, the same figures its calculator uses:
| Home type | Avg. use/month | At SP tariff (31.16¢) | At 29.00¢ (24 mths) | At 28.90¢ (36 mths) | Best saving |
|---|---|---|---|---|---|
| HDB 3-room | 284.6 kWh | $88.69 | $82.55 | $82.26 | $6.43/mth |
| HDB 4-room | 391.3 kWh | $121.94 | $113.49 | $113.09 | $8.84/mth |
| HDB 5-room | 460.7 kWh | $143.56 | $133.61 | $133.15 | $10.41/mth |
| HDB Executive | 562.6 kWh | $175.31 | $163.16 | $162.60 | $12.72/mth |
| Condo/Apartment | 545.7 kWh | $170.05 | $158.26 | $157.71 | $12.33/mth |
Every one of those savings is against doing nothing, and each is less than half what the same switch was worth in September, because the tariff fell and the retail rates fell by less.
Two years at 29.00¢ costs a 4-room household about $2,724 on EMA's 391.3 kWh average. Subtract what each retailer pays you to sign (Tuas is costed at its own 30.90¢):
| Switching off the SP tariff | 24-month electricity cost | Less rebate | Net | Per month |
|---|---|---|---|---|
| Senoko LifePower24 (gift-led) | $2,724 | −$279 | $2,445 | $101.86 |
| Geneco Get It Fixed 24 | $2,724 | −$255 | $2,469 | $102.86 |
| PacificLight Savvy Saver 24 | $2,724 | −$248 | $2,476 | $103.15 |
| Keppel FIXED24 | $2,724 | −$145 | $2,579 | $107.44 |
| Sembcorp 24M Fixed | $2,724 | none | $2,724 | $113.49 |
| Tuas PowerFIX 24 (30.90¢) | $2,902 | −$100 | $2,802 | $116.75 |
The spread from top to bottom is now about $357, because Tuas's higher rate adds $178 before any rebate.
Geneco's $255 is a stack, and the biggest piece is reserved for SP customers. Its T&C PDF gives GENECO200 ($200, first 3,350) only to households coming off the SP tariff, and GENECO100 ($100, first 300) to everyone else, both to 2 November 2026. The remaining $55 is a $20 referral plus up to $35 in card rebates.
PacificLight's GETBACK24 is the best cash for everyone else, but it is small. $228 on the third bill plus a $20 referral, for any new customer, capped at the first 100 sign-ups between 15 October and 31 December. That cap will go first.
| Already with another retailer? | Rebate | Net over 24 months | Per month |
|---|---|---|---|
| Senoko LifePower24 (gift-led) | $279 | $2,445 | $101.86 |
| PacificLight Savvy Saver 24 | $248 | $2,476 | $103.15 |
| Geneco Get It Fixed 24 | $155 | $2,569 | $107.03 |
| Keppel FIXED24 | $145 | $2,579 | $107.44 |
| Sembcorp 24M Fixed | none | $2,724 | $113.49 |
| Tuas PowerFIX 24 (30.90¢) | $100 | $2,802 | $116.75 |
Senoko's $279 is a gift, not cash. It is a $259 TTRacing gaming chair on GIRO (GIROBCRC) plus a $20 referral. Value an object at what you would actually have paid for it. On cash, Senoko's best 24-month codes are MBBC130 or TGBGN130 at $130, which with the referral nets about $107.24 a month.
Keppel FIXED36, Senoko LifePower36 and PacificLight Savvy Saver 36 all charge 28.90¢/kWh, and Tuas's PowerFIX 36 is 30.63¢. A 4-room household pays about $113.09 a month at 28.90¢, or $4,071 over 36 months.
The best cash on that rate is PacificLight's GETBACK36, $268 plus a $20 referral (first 100, to 31 December), which averages $105.08 a month. Senoko's MBBC180 plus referral gets to $107.54, and Keppel's NEW100 plus $20 card rebate to $109.76. Geneco's 24-month cash deal averages $102.86, so you would lock in an extra year to pay about $2.22 a month more.
The exception is Senoko's LifePower36 with a Trust card: a two-piece Samsonite Oc2lite set worth $680 plus up to $50 in rebates (code TBBCSB30B, first 1,000, to 31 December). Counted at sticker price that is about $92.82 a month, the cheapest line on this page, but only if you would genuinely have bought that luggage.
PacificLight's Easy Peasy is a no-contract plan, repriced on 7 October to 27.00¢/kWh plus a 55¢ daily charge, about $16.74 a month however little you use. Against a 29.00¢ plan it now loses for every home type:
| Home type | Easy Peasy (27.00¢ + 55¢/day) | Any 29.00¢ 24-month plan | Verdict |
|---|---|---|---|
| HDB 3-room (284.6 kWh) | $93.59 | $82.55 | 24-month plan by $11.05 |
| HDB 4-room (391.3 kWh) | $122.40 | $113.49 | 24-month plan by $8.91 |
| HDB 5-room (460.7 kWh) | $141.14 | $133.61 | 24-month plan by $7.53 |
| HDB Executive (562.6 kWh) | $168.65 | $163.16 | 24-month plan by $5.49 |
| Condo/Apartment (545.7 kWh) | $164.08 | $158.26 | 24-month plan by $5.83 |
It only beats the SP tariff above about 402 kWh a month, so an average 4-room flat pays slightly more on Easy Peasy than by doing nothing. Its fact sheet also bars promo codes, referral codes and vouchers. If you want no lock-in, PacificLight's Easy Save (18% off the tariff, about 25.55¢, plus the same 55¢/day) is the better of the two at about $116.73 for a 4-room flat.
9 to 9 is worse. Its 7 October fact sheet charges 20.05¢ from 9pm to 9am and 36.95¢ from 9am to 9pm, plus $1.01 a day (about $30.74 a month). A 4-room household splitting its usage evenly pays near $142 a month against $113.49 on a plain 29.00¢ plan.
Retailers do not have to file every plan to EMA. Checked on the retailers' own sites:
Five of the six charge 29.00¢ on 24 months, so most of these match-ups are decided by the rebate.
| Match-up | Who wins, and why |
|---|---|
| Geneco vs PacificLight | Geneco if you are on the SP tariff ($255 against $248). PacificLight if you are already with a retailer, because Geneco drops to $155 while GETBACK24 stays at $228 plus referral, or if you want a no-contract plan, which Geneco does not sell. |
| Geneco vs Senoko | Geneco on cash, $200 against $130. Senoko if you want an object: a $259 gaming chair on 24 months, or a $680 Samsonite set on 36. |
| Geneco vs Tuas Power | Geneco by a wide margin: 1.90¢ cheaper per kWh and $155 more in rebate. Tuas only if you want to keep one consolidated SP Group bill. |
| Tuas Power vs Senoko | Senoko on value and rate. Tuas on simplicity, with the same SP bill and 12 months of free Singlife cover. |
| Senoko vs Keppel Electric | Senoko on incentives, $279 in gifts or $150 in cash against $145. Keppel if you have a referral code for the 28.50¢ FIXED24 Special and were choosing Keppel anyway. |
| PacificLight vs Keppel Electric | PacificLight on cash, $248 against $145, and on choice, with ten residential plans and three with no contract. |
| SP Group vs any retailer | Any 29.00¢ retailer. Staying on 31.16¢ costs a 4-room household about $8.45 a month more, and your U-Save rebate is unaffected either way. Tuas's 30.90¢ saves only about $1 a month. |
| Sembcorp Power vs everyone | Everyone except Tuas. Sembcorp charges the same 29.00¢ but files no rebate, so it is the same electricity for up to $279 more over two years. |
The regulated tariff is revised every quarter to track fuel costs, so the Q3 spike is worth seeing in context. These are SP Group's own published household rates, including GST:
| Quarter | Tariff (incl. GST) | Change |
|---|---|---|
| Oct–Dec 2026 | 31.16¢ | −10.4% |
| Jul–Sep 2026 | 34.78¢ | +17.0% |
| Apr–Jun 2026 | 29.72¢ | +2.1% |
| Jan–Mar 2026 | 29.11¢ | −3.0% |
| Oct–Dec 2025 | 30.03¢ | +0.3% |
| Jul–Sep 2025 | 29.94¢ | −2.3% |
| Apr–Jun 2025 | 30.65¢ | unchanged |
| Jan–Mar 2025 | 30.65¢ | −3.4% |
| Oct–Dec 2024 | 31.72¢ | −2.6% |
| Jul–Sep 2024 | 32.57¢ | +0.3% |
Two things stand out. First, 34.78¢ really is unprecedented: SP's published series runs back to 2014 and the previous high was 32.58¢ in Q1 2024. Second, across the seven quarters before this one the tariff stayed inside a 29 to 32¢ band, and no single revision moved it by more than about 1¢. A 4.64¢ jump in one quarter is not the normal rhythm of this market, which is the honest argument for not assuming it is permanent when you choose a contract length. It was not: on 1 October 2026 the tariff fell 10.4% to 31.16¢, which took back most of July's rise.
Almost every guide to cutting your electricity bill skips the largest single credit most households receive, because it does not come from a retailer. GST Voucher – U-Save is a government rebate credited straight into your SP Services utilities account, with no application needed. For FY2026 the amounts are:
| HDB flat type | U-Save for FY2026 |
|---|---|
| 1- and 2-room | $570 |
| 3-room | $510 |
| 4-room | $450 |
| 5-room | $390 |
| Executive / Multi-generation | $330 |
It is paid in four tranches, in April, July, October and January, and the July 2026 tranche was doubled. Two things are commonly misunderstood:
For a 4-room household, $450 of U-Save plus about $101 a year saved by moving from the new tariff to a 29.00¢ plan is roughly $550 in a year, most of which requires no action beyond the ten minutes it takes to switch.
A fixed-price plan locks your rate for the whole contract. That is protection if tariffs climb again, and a mild regret if they fall, because the tariff is revised every quarter. Most retailers charge an early-termination fee if you leave early, so a 24-month lock is a genuine commitment. If you would rather stay flexible, the options are Geneco's Give Us A Try at 31.00¢ on six months and PacificLight's no-contract Easy Save, Easy Peasy and 9 to 9, of which Easy Save is the cheapest for a 4-room flat or larger today.
We wrote the first version of this page on 29 July 2026, when all six retailers matched at 27.50¢. By 20 August all six had moved to 29.80¢. After the tariff fell on 1 October, five of them cut to 29.00¢ within eight days, and Tuas went up to 30.90¢. Meanwhile Geneco has extended its codes twice and PacificLight replaced a $200 code with a $228 one.
That is the real lesson here. A two-year signature deserves a check on the day you sign, not a comparison you read last month, including this one. Everything above was re-pulled from EMA's portal and the retailers' own sites on 16 October 2026. Rebates move faster than rates, several are capped at the first 100 or 300 sign-ups, and the headline "up to" figures almost always stack conditions.
On rate, five of the six are tied. As of our 16 October 2026 re-check of EMA's portal and each retailer's own site, Geneco, Keppel Electric, PacificLight, Sembcorp Power and Senoko Energy all charge 29.00¢/kWh including GST on 24 months, about $113.49 a month for an HDB 4-room flat on EMA's 391.3 kWh average. Tuas Power raised its 24-month plan to 30.90¢. So the sign-up rebate decides it, and the answer depends on where you are switching from. Coming off the SP tariff, Geneco pays the most cash: GENECO200 ($200, first 3,350, to 2 November) plus a $20 referral and up to $35 in card rebates, which nets about $102.86 a month over two years. Senoko's $279 works out slightly cheaper at $101.86, but it is a gaming chair, not cash. PacificLight's new GETBACK24 ($228 plus $20 referral, first 100, to 31 December) comes to $103.15, then Keppel at $107.44, Sembcorp at $113.49 with no rebate, and Tuas at $116.75. If you are already with another retailer, Geneco falls to $100 (GENECO100), so PacificLight's GETBACK24 becomes the best cash deal. The lowest single rate is Keppel's referral-only FIXED24 Special at 28.50¢, but its $45 rebate leaves it behind a plain FIXED24 overall.
The SP Group regulated tariff for households is 31.16 cents/kWh including GST, or 28.59 cents before GST, for the quarter running 1 October to 31 December 2026. It breaks down into energy costs of 22.18¢, network costs of 6.10¢, a market support services fee of 0.23¢ and a market admin and power system operation fee of 0.08¢, all quoted before GST. That is a 10.4% cut from the record 34.78¢ of July to September 2026, and almost all of it came from the energy-cost component, which fell from 25.50¢. The previous quarters in the current cycle were 34.78¢ (Jul to Sep 2026), 29.72¢ (Apr to Jun 2026), 29.11¢ (Jan to Mar 2026) and 30.03¢ (Oct to Dec 2025). The tariff is revised quarterly, so the next figure takes effect on 1 January 2027.
Less than in September. Against the 31.16¢ regulated tariff, the 29.00¢ that five retailers now charge on 24 months is 2.16¢ cheaper, or 6.9% off. Using EMA's current national averages, that is about $6.15 a month for an HDB 3-room flat, $8.45 for a 4-room, $9.95 for a 5-room, $12.15 for an executive flat and $11.79 for a condo or apartment, or roughly $101 a year for a 4-room flat before any sign-up rebate. The 28.90¢ three-year plans from Keppel, Senoko and PacificLight widen the gap slightly, to $8.84 a month for a 4-room flat, while Tuas Power's 30.90¢ saves only about $1.02. Add a sign-up rebate and the two-year saving for a 4-room flat rises to roughly $458 at Geneco against staying on the tariff. Separately, the GST Voucher – U-Save rebate, worth $450 over FY2026 for a 4-room flat, is credited to your SP Services account whether or not you switch.
No, and since 7 October it is not even the cheapest of PacificLight's own no-contract plans. Easy Peasy was repriced from 26.00¢ to 27.00¢/kWh, and its fact sheet adds a 55¢ daily charge, about $16.74 a month however little you use. Against any 29.00¢ 24-month plan it now loses for every home type: an HDB 4-room flat on EMA's 391.3 kWh average pays about $122.40 against $113.49, and even an executive flat pays $5.49 more. It only beats the regulated tariff above about 402 kWh a month, so an average 4-room flat pays slightly more than by doing nothing. Promo codes, referral codes and vouchers cannot be used on it. If you want no lock-in, PacificLight's Easy Save (18% off the tariff, about 25.55¢, plus the same 55¢/day) is cheaper at about $116.73 for a 4-room flat.
Yes. EMA states plainly that you remain eligible for GST Voucher – U-Save no matter which retailer you switch to. The rebate is credited directly into your SP Services utilities account, with no application needed, and it follows the account rather than your electricity contract. It is applied to your non-electricity charges first, meaning water, gas and refuse collection, before it is used against electricity, so if your retailer bills you separately for electricity the rebate lands on the SP bill covering everything else. For FY2026 the amounts are $570 for 1- and 2-room HDB flats, $510 for 3-room, $450 for 4-room, $390 for 5-room and $330 for executive or multi-generation flats, paid in four tranches in April, July, October and January, with the July 2026 tranche doubled. Only HDB households are eligible, and members must not own more than one property.
The 24-month bracket is where the money is: five retailers charge 29.00¢ and attach the largest rebates, from Geneco's up to $255 to PacificLight's $248 and Senoko's $279 in gifts, which brings a 4-room flat to about $102 to $103 a month over the contract. The 12-month plans are 30.50¢ at Geneco, PacificLight and Senoko, 31.00¢ at Sembcorp and 31.15¢ at Keppel and Tuas, so for half the commitment you pay about $5.87 a month more than 29.00¢ at best, with rebates of $10 to $50. Avoid the 31.15¢ plans, which are one-hundredth of a cent below the tariff for a full year's lock-in. Thirty-six months at 28.90¢ (Keppel, Senoko, PacificLight) does not beat the best 24-month rebate on cash: PacificLight's GETBACK36 gets to about $105.08 a month against Geneco's $102.86 on 24 months. Six months means Geneco's Give Us A Try at 31.00¢, now that Tuas's PowerDOT 6 has gone. For no commitment at all, PacificLight's Easy Save is the cheapest no-contract option for a 4-room flat or larger.
Fewer than a month ago. Tuas Power's PowerDOT 6 (10% off) is no longer on its plans page, and Keppel's SURESAVE DOT (12% off for SP switchers) no longer appears on Keppel's sign-up page or in its plan data as of 16 October 2026. What remains: Senoko's LifeSteady24, on EMA's portal, and LifeSteady36 track a flat 1.64¢/kWh off the tariff for the whole contract, about 29.52¢ today, which is 0.52¢ dearer than the 29.00¢ fixed plans. PacificLight's Easy Save is 18% off the tariff with no contract, about 25.55¢, but adds a 55¢ daily charge. Its Classic 60 is up to 8% off over five years, made of 3% off plus a 5% prompt-payment discount. Keppel's DOT24RN is renewal-only. A discount-off-tariff plan follows the tariff down if it keeps falling; a fixed plan is better if you expect it to rise again.
Compare the hours and the share of your usage inside the cheap window, not the headline off-peak rate. Senoko's LifeSavvy24 and PacificLight's 9 to 9 both quote 20.05¢ overnight, the lowest in Singapore, but 9 to 9 charges 36.95¢ by day plus $1.01 a day (about $30.74 a month), which sinks it for an ordinary household. PacificLight's Save While Sleeping 24 is 23.00¢ from 11pm to 7am against 33.00¢ otherwise, and needs about 40% of your usage in those eight hours to beat a flat 29.00¢ plan. Keppel's WEEKEND SAVER is 27.90¢ every night from 9pm to 9am and all weekend against 39.90¢ on weekday daytimes. Geneco's Get It 7 To 7 is 27.90¢ from 7pm to 7am against 32.50¢ by day, but now that flat plans are 29.00¢ it needs about 76% of your usage at night to win. All of these need an advanced or smart meter: Keppel charges $43.60 to install one, Geneco absorbs the fee for first-time sign-ups. If you cannot estimate your day-night split from your SP app, take a flat 29.00¢ plan with a good rebate instead.
Nobody can tell you, but the mechanism is public and worth understanding. The regulated tariff is revised every quarter to track fuel costs, and the current 31.16¢/kWh covers 1 October to 31 December 2026, down 10.4% from Q3's 34.78¢, so the next revision takes effect on 1 January 2027. The Q3 jump of 17.0% reflected natural gas prices between 1 April and 15 June 2026, a window when global fuel prices were elevated, and the October cut shows how quickly that can reverse. Context matters: across the seven quarters before this one the tariff stayed inside a 29 to 32¢ band and no single revision moved it by more than about 1¢, so a 4.64¢ jump is not the normal rhythm of this market. Retailer pricing is a separate signal and it moved the other way through August: all six retailers raised their 24-month rate from 27.50¢ to 29.80¢ between 4 and 20 August, which suggests they are not pricing in a sharp fall. Retailers have since followed the October cut, with five of six moving to 29.00¢, while Tuas raised its rate to 30.90¢. If you think the tariff will keep falling, a discount-off-tariff plan such as Senoko's LifeSteady24 at 1.64¢ off follows it down. If you think rates stay high, a fixed plan locks today's price.
No. Switching is a billing change, not a physical one. SP Group still owns and operates the grid, still maintains your meter and still delivers the electricity, so the power reaching your flat is physically identical no matter which retailer you buy from, and there is no downtime during the switch. Your U-Save rebate is unaffected too. The real risks are contractual rather than technical: most fixed plans charge an early-termination fee if you leave before the contract ends, and a fixed rate means you will not benefit if the regulated tariff falls in a later quarter. One practical exception to watch is Keppel's WEEKEND SAVER, which needs a smart meter for half-hourly readings and carries a $43.60 installation fee if you do not already have one.
Keppel's own sign-up system, re-checked on 16 October 2026, returns four codes for FIXED24 at 29.00¢/kWh: NEW125 for a $125 bill rebate, which is the one its promotions page advertises, plus VOLT100, COOL100 and POWER100 at $100 each, all valid until 1 January 2027. Only one code applies per sign-up, so use NEW125, and a Maybank recurring card payment adds up to $20 on top. FIXED36 at 28.90¢ takes NEW100 for $100. The referral-only FIXED24 Special at 28.50¢ carries up to $45 instead. Against the market, Keppel's $145 best case trails Geneco, PacificLight and Senoko on a 24-month plan, so a Keppel code only wins if you specifically want Keppel.
