Updated 27 October 2026: Keppel raised FIXED24 to 30.90¢ and Senoko raised LifePower24 to 30.50¢ on 19 October, so only Geneco, PacificLight and Sembcorp still charge 29.00¢/kWh on 24 months against SP's 31.16¢ tariff. Geneco's GENECO200 ($200 for SP customers) ends on 2 November. A 4-room flat nets about $105.57 a month at Geneco over two years, against $124.84 on the tariff.
Only three of Singapore's six electricity retailers still charge 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 ends 2 November), about $105.57 a month net for a 4-room flat. Already with a retailer? PacificLight's GETBACK24 ($228, first 100 only) wins. Keppel and Senoko raised their rates on 19 October.
PRICE: Get It Fixed 24 is 29.00¢/kWh, confirmed on 27 October 2026 on EMA's portal, one of only three 24-month plans still at that rate after Keppel and Senoko raised theirs on 19 October.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 on EMA's revised 400.7 kWh average nets about $2,534, or $105.57 a month, the best cash deal in the market.FINE PRINT: Geneco's T&C PDF (last reissued 15 October) runs GENECO200 (first 3,350) and GENECO100 ($100 for everyone else, first 300) from 1 September to 2 November 2026. Its own promo page still shows the older 16 October date, so go by the PDF. If you are already with another retailer you get only $155 in total, about $109.73 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 can sign by 2 November and 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 (8 October fact sheet), confirmed on EMA's portal on 27 October. Savvy Saver 36 is 28.90¢, now the only three-year plan in the market under 29.00¢ after Keppel and Senoko raised theirs.THE DEAL: GETBACK24 pays 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 $105.86 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 from 15 October to 31 December 2026.ALTERNATIVES: YUU24 was renewed on 27 October and pays $50 plus 10,000 yuu Points (YUU36: $50 plus 15,000 points; first 500, to 31 December), MBBON140 pays $140 on a Maybank card and MBBON200 $200 on 36 months (first 40 per code, to 31 December), and BONUSFLY24 adds KrisFlyer miles.NO-CONTRACT PLANS: Easy Peasy is 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, the cheapest of the three. 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: Senoko raised its fixed plans on 19 October. Its own price-plan page now lists LifePower24 at 30.50¢/kWh (was 29.00¢) and LifePower36 at 29.95¢ (was 28.90¢), and EMA's portal agrees. LifeSteady24 and LifeSteady36 still charge 1.64¢ off the tariff, about 29.52¢ today, which makes them Senoko's cheapest plans this quarter.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. On LifeSteady24 that nets about $106.65 a month for a 4-room flat, close behind Geneco and PacificLight, but only while the tariff stays at 31.16¢; on the fixed LifePower24 it is $110.58. Other 24-month gifts are a $208 Shark Steam Mop, a $199 doobsta' bean bag and a $149 La Gourmet multi-cooker.CASH CODES: MBBC130 (Maybank) and TGBGN130 (Tiger BOSS) pay $130 on 24 months, GIROBC100 pays $100 and BC60 pays $60 without recurring payments (to 5 January 2027).36 MONTHS: a two-piece Samsonite Oc2lite set worth $680 plus $30 on a Trust card and $20 referral (TBBCSB30B, first 1,000, to 31 December), a $299 Ninja air fryer, a $279 Shark fan or a $218 SMEG kettle on GIRO, or MBBC180 for $180 cash. The $408 Ninja Foodi Airgrill (GIROBCNAG) is now marked fully redeemed.OTHER PLANS: LifeGreen24 is 30.88¢ with 100% RECs, and LifeSavvy24 is now 21.05¢ overnight and 37.95¢ by day, up from 20.05¢, so PacificLight's 9 to 9 holds the lowest off-peak rate.BEST FOR: households who genuinely want one of the gifts and are comfortable with a rate that moves with the tariff each quarter.
LifeSteady24 at 1.64¢ off the tariff (about 29.52¢ today) or LifePower24 at 30.50¢, with up to $279 in gifts and rebates; on 36 months, a $680 Samsonite set plus up to $50 (TBBCSB30B, first 1,000, to 31 Dec 2026)
PRICE: the 24M Fixed Price Plan Home is 29.00¢/kWh and the 12M plan 31.00¢, both on Sembcorp's own homepage and EMA's portal on 27 October 2026.THE CATCH: neither plan carries a sign-up incentive. You pay exactly what a Geneco or PacificLight customer pays while leaving up to $255 on the table: about $2,789 over 24 months, or $116.19 a month, for a 4-room flat, against $2,534 at Geneco or $2,541 at PacificLight.WHAT CHANGED: with Keppel and Tuas both at 30.90¢, Sembcorp's plain 29.00¢ now works out cheaper than either of them even after their rebates ($117.76 and $119.64 a month), and it also edges Senoko's LifePower24 on cash codes ($115.95).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 fixed contract with a major local operator, or who has missed the capped rebates elsewhere.
24M Fixed Price Plan Home at 29.00¢/kWh (27 Oct 2026), one of three retailers still at 29.00¢, with no sign-up rebate
PRICE: Keppel reissued its fact sheets on 19 October. Its plan data and EMA's portal now show FIXED24 at 30.90¢/kWh (was 29.00¢) and FIXED36 at 30.63¢ (was 28.90¢), level with Tuas Power.THE DEAL: code NEW125 still pays $125 on FIXED24 and a Maybank recurring card payment adds up to $20, so $145 in total. At the new rate that nets a 4-room flat about $117.76 a month, more than Sembcorp's $116.19 with no rebate at all. FIXED36 takes NEW100 for $100 plus the same card rebate, about $119.39 a month. 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 now 30.40¢ (was 28.50¢) and carries only up to $45, so it ends up about $52 behind a plain FIXED24 over the contract. GONE: SURESAVE DOT, the 12%-off-tariff no-contract plan for SP switchers, is still missing from Keppel's sign-up page and 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 already happy with Keppel; for a new switch, three retailers are now cheaper.
FIXED24 now 30.90¢/kWh (up from 29.00¢ on 19 Oct) with $125 on code NEW125 plus up to $20 card rebate (to 1 Jan 2027); FIXED36 at 30.63¢ with NEW100
Valid till 1 Jan 2027
PRICE: Tuas Power's plans page on 27 October still lists PowerFIX 24 at 30.90¢/kWh and PowerFIX 36 at 30.63¢, the rates it moved to in mid-October. Keppel has since matched both. 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 $2,971 before the rebate, or $119.64 a month net, last of the six and only about $5 a month below doing nothing. On 36 months the bigger rebate brings it to about $118.28. 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 at 30.90¢/kWh 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, PacificLight and Sembcorp charge on 24 months, about $8.65 a month for a 4-room flat on EMA's revised 400.7 kWh average, or $104 a year before any sign-up rebate. Keppel and Tuas, both at 30.90¢, now sit only 0.26¢ below 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 Geneco, PacificLight and Sembcorp
| Retailer | Plan | Rate (incl. GST) | Term | Est. bill (4-room) | Sign-up rebate |
|---|---|---|---|---|---|
| PacificLight | Savvy Saver 36 (own site only) | 28.90¢/kWh | 36 mths | $115.79 | $268 with GETBACK36, first 100, to 31 Dec, + $20 referral |
| Geneco | Get It Fixed 24 | 29.00¢/kWh | 24 mths | $116.19 | $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 | $116.19 | $228 with GETBACK24, first 100, to 31 Dec, + $20 referral |
| Sembcorp Power | 24M Fixed Price Plan Home | 29.00¢/kWh | 24 mths | $116.19 | None listed |
| PacificLight | Stack It Up 24 (tiered by usage, own site only) | 29.20¢ / 28.60¢ / 27.60¢ | 24 mths | $116.39 | GETBACK24 $228, first 100, to 31 Dec |
| Senoko Energy | LifeSteady24 (cents off tariff) | Tariff minus 1.64¢ (29.52¢ today) | 24 mths | $118.27 | Up to $279 in gifts & rebates |
| PacificLight | Easy Save (no contract, own site only) | 18% off tariff (25.55¢) + 55¢/day | None | $119.11 | No promo codes allowed on this plan |
| Senoko Energy | LifePower36 (own site only) | 29.95¢/kWh | 36 mths | $120.00 | Gift-led: $680 Samsonite set + $30 on Trust card (TBBCSB30B, first 1,000, to 31 Dec), or $180 cash (MBBC180) |
| Keppel Electric | FIXED24 Special (referral code required, own site only) | 30.40¢/kWh | 24 mths | $121.80 | Up to $45 ($20 card + $25 referral) |
| Senoko Energy | LifePower24 | 30.50¢/kWh | 24 mths | $122.20 | Up to $279 in gifts & rebates; best cash is $130 on a Maybank or Tiger BOSS card |
| Senoko Energy | LifePower12 | 30.50¢/kWh | 12 mths | $122.20 | Up to $169 in gifts & rebates |
| Geneco | Get It Fixed 12 | 30.50¢/kWh | 12 mths | $122.20 | $15 with GENECO15, first 250, to 2 Nov |
| PacificLight | Savvy Saver 12 | 30.50¢/kWh | 12 mths | $122.20 | Up to $10 bill rebate |
| Keppel Electric | FIXED36 (own site only) | 30.63¢/kWh | 36 mths | $122.72 | Up to $120 (NEW100 + $20 card) |
| Tuas Power | PowerFIX 36 (own site only) | 30.63¢/kWh | 36 mths | $122.72 | $160 with code ONLINE |
| Senoko Energy | LifeGreen24 (100% RECs) | 30.88¢/kWh | 24 mths | $123.72 | Up to $279 in gifts & rebates |
| Keppel Electric | FIXED24 | 30.90¢/kWh | 24 mths | $123.80 | $125 bill rebate (NEW125) + $20 card rebate |
| Tuas Power | PowerFIX 24 | 30.90¢/kWh | 24 mths | $123.80 | $100 with code ONLINE, + same SP bill |
| Geneco | Give Us A Try | 31.00¢/kWh | 6 mths | $124.20 | No promo or referral code |
| PacificLight | Sunny Side-Up 12 (RECs) | 31.00¢/kWh | 12 mths | $124.20 | Up to $10 bill rebate |
| Sembcorp Power | 12M Fixed Price Plan Home | 31.00¢/kWh | 12 mths | $124.20 | None listed |
| Keppel Electric | FIXED12 (barely below tariff) | 31.15¢/kWh | 12 mths | $124.80 | Up to $10 bill rebate |
| Tuas Power | PowerFIX 12 | 31.15¢/kWh | 12 mths | $124.80 | Same SP bill |
| SP Group | Regulated tariff (do nothing) | 31.16¢/kWh | No contract | $124.84 | None |
| PacificLight | Easy Peasy (no contract, own site only) | 27.00¢/kWh + 55¢/day | None | $124.92 | No promo codes allowed on this plan |
| Tuas Power | PowerFIX 25 G+ (green, own site only) | 32.70¢/kWh | 25 mths | $131.01 | $100 with code ONGREEN |
Re-pulled on 27 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 PacificLight's 28.90¢ three-year rate is 2.26¢ cheaper, 7.3% off. Keppel's and Tuas's 30.90¢ is only 0.26¢ cheaper, about $1.04 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 | 288.4 kWh | $89.87 | $83.64 | $83.35 | $6.52/mth |
| HDB 4-room | 400.7 kWh | $124.84 | $116.19 | $115.79 | $9.05/mth |
| HDB 5-room | 473.9 kWh | $147.66 | $137.43 | $136.95 | $10.71/mth |
| HDB Executive | 579.3 kWh | $180.51 | $168.00 | $167.42 | $13.09/mth |
| Condo/Apartment | 594.7 kWh | $185.32 | $172.48 | $171.88 | $13.44/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 $2,789 on EMA's 400.7 kWh average. Subtract what each retailer pays you to sign (the dearer plans are costed at their own rates):
| Switching off the SP tariff | 24-month electricity cost | Less rebate | Net | Per month |
|---|---|---|---|---|
| Geneco Get It Fixed 24 | $2,789 | −$255 | $2,534 | $105.57 |
| PacificLight Savvy Saver 24 | $2,789 | −$248 | $2,541 | $105.86 |
| Senoko LifeSteady24 (29.52¢ today, gift-led) | $2,839 | −$279 | $2,560 | $106.65 |
| Senoko LifePower24 (30.50¢, gift-led) | $2,933 | −$279 | $2,654 | $110.58 |
| Sembcorp 24M Fixed | $2,789 | none | $2,789 | $116.19 |
| Keppel FIXED24 (30.90¢) | $2,971 | −$145 | $2,826 | $117.76 |
| Tuas PowerFIX 24 (30.90¢) | $2,971 | −$100 | $2,871 | $119.64 |
The spread from top to bottom is about $337, and Sembcorp, with no rebate at all, now beats both 30.90¢ retailers.
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 ending 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 |
|---|---|---|---|
| PacificLight Savvy Saver 24 | $248 | $2,541 | $105.86 |
| Senoko LifeSteady24 (gift-led) | $279 | $2,560 | $106.65 |
| Geneco Get It Fixed 24 | $155 | $2,634 | $109.73 |
| Senoko LifePower24 (gift-led) | $279 | $2,654 | $110.58 |
| Sembcorp 24M Fixed | none | $2,789 | $116.19 |
| Keppel FIXED24 | $145 | $2,826 | $117.76 |
| Tuas PowerFIX 24 | $100 | $2,871 | $119.64 |
Senoko's $279 is a gift, not cash, and its cheapest rate now floats. The $279 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. LifeSteady24 is the tariff minus 1.64¢, so its 29.52¢ changes on 1 January with the tariff. On cash, MBBC130 or TGBGN130 ($130) plus the referral nets about $112.02 a month on LifeSteady24 or $115.95 on LifePower24.
After Keppel and Senoko raised their three-year rates, PacificLight's Savvy Saver 36 at 28.90¢ is the only one left under 29.00¢. Senoko's LifePower36 is now 29.95¢, and Keppel's FIXED36 and Tuas's PowerFIX 36 are both 30.63¢. A 4-room household pays about $115.79 a month at 28.90¢, or $4,168 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 $107.79 a month. Senoko's MBBC180 plus referral on LifePower36 comes to $114.44, Tuas's $160 to $118.28 and Keppel's NEW100 plus $20 card rebate to $119.39. Geneco's 24-month cash deal averages $105.57, so you would lock in an extra year to pay about $2.22 a month more.
The exception is Senoko with a Trust card: a two-piece Samsonite Oc2lite set worth $680 plus $30 in rebates and a $20 referral (code TBBCSB30B, first 1,000, to 31 December, any 36-month plan). Counted at sticker price that is about $99.72 a month on LifePower36, or about $98.00 on LifeSteady36 at today's tariff, the cheapest lines on this page, but only if you would genuinely have bought that luggage.
PacificLight's Easy Peasy is a no-contract plan at 27.00¢/kWh plus a 55¢ daily charge (7 October fact sheet), about $16.74 a month however little you use. Against a 29.00¢ plan it loses for every home type:
| Home type | Easy Peasy (27.00¢ + 55¢/day) | Any 29.00¢ 24-month plan | Verdict |
|---|---|---|---|
| HDB 3-room (288.4 kWh) | $94.61 | $83.64 | 24-month plan by $10.97 |
| HDB 4-room (400.7 kWh) | $124.92 | $116.19 | 24-month plan by $8.73 |
| HDB 5-room (473.9 kWh) | $144.69 | $137.43 | 24-month plan by $7.26 |
| HDB Executive (579.3 kWh) | $173.15 | $168.00 | 24-month plan by $5.15 |
| Condo/Apartment (594.7 kWh) | $177.32 | $172.48 | 24-month plan by $4.84 |
It only beats the SP tariff above about 402 kWh a month, so an average 4-room flat (400.7 kWh) pays a few cents 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 $119.11 for a 4-room flat. It beats a 29.00¢ fixed plan only above roughly 485 kWh a month, which means executive flats and condos.
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 $145 a month against $116.19 on a plain 29.00¢ plan.
Retailers do not have to file every plan to EMA. Checked on the retailers' own sites:
Three of the six charge 29.00¢ on 24 months, Senoko's cheapest rate now follows the tariff, and Keppel and Tuas sit at 30.90¢.
| Match-up | Who wins, and why |
|---|---|
| Geneco vs PacificLight | Geneco if you are on the SP tariff and can sign by 2 November ($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, and on certainty, because its 29.00¢ is fixed while Senoko's 29.52¢ LifeSteady24 moves each quarter. 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 rate and incentives: 30.50¢ fixed or 29.52¢ tariff-linked against 30.90¢, and $279 in gifts or $150 in cash against $145. |
| PacificLight vs Keppel Electric | PacificLight by about $12 a month: 29.00¢ against 30.90¢, $248 against $145, and ten residential plans with three that need no contract. |
| Sembcorp Power vs Keppel and Tuas | Sembcorp, which is new. Its 29.00¢ with no rebate ($116.19 a month) now undercuts both 30.90¢ retailers even after their rebates. |
| SP Group vs any retailer | Any 29.00¢ retailer. Staying on 31.16¢ costs a 4-room household about $8.65 a month more, and your U-Save rebate is unaffected either way. Keppel's and Tuas's 30.90¢ saves only about $1 a month before rebates. |
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 $104 a year saved by moving from the new tariff to a 29.00¢ plan is roughly $554 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, and the only one that beats a 29.00¢ fixed plan, above roughly 485 kWh a month.
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¢. On 19 October Keppel and Senoko raised theirs again, to 30.90¢ and 30.50¢. 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 27 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, three of the six are tied at the bottom. As of our 27 October 2026 re-check of EMA's portal and each retailer's own site, Geneco, PacificLight and Sembcorp Power charge 29.00¢/kWh including GST on 24 months, about $116.19 a month for an HDB 4-room flat on EMA's revised 400.7 kWh average. Keppel Electric raised FIXED24 to 30.90¢ and Senoko Energy raised LifePower24 to 30.50¢ on 19 October, and Tuas Power is at 30.90¢. Among the 29.00¢ plans 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, ends 2 November) plus a $20 referral and up to $35 in card rebates, which nets about $105.57 a month over two years. PacificLight's GETBACK24 ($228 plus $20 referral, first 100, to 31 December) comes to $105.86, and Senoko's tariff-linked LifeSteady24 with a $259 gaming chair to $106.65. Then come Sembcorp at $116.19 with no rebate, Keppel at $117.76 and Tuas at $119.64. 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 PacificLight's 28.90¢ Savvy Saver 36, but over three years its best rebate still averages about $2.22 a month more than Geneco on 24 months.
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 Geneco, PacificLight and Sembcorp charge on 24 months is 2.16¢ cheaper, or 6.9% off. Using EMA's revised national averages, that is about $6.23 a month for an HDB 3-room flat, $8.65 for a 4-room, $10.24 for a 5-room, $12.51 for an executive flat and $12.85 for a condo or apartment, or roughly $104 a year for a 4-room flat before any sign-up rebate. PacificLight's 28.90¢ three-year plan widens the gap slightly, to $9.05 a month for a 4-room flat, while Keppel's and Tuas's 30.90¢ saves only about $1.04. Add a sign-up rebate and the two-year saving for a 4-room flat rises to roughly $463 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 it is not even the cheapest of PacificLight's own no-contract plans. Easy Peasy is 27.00¢/kWh (7 October fact sheet), and it adds a 55¢ daily charge, about $16.74 a month however little you use. Against any 29.00¢ 24-month plan it loses for every home type: an HDB 4-room flat on EMA's revised 400.7 kWh average pays about $124.92 against $116.19, and even a condo pays $4.84 more. It only beats the regulated tariff above about 402 kWh a month, so an average 4-room flat pays a few cents 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 $119.11 for a 4-room flat, and it beats a 29.00¢ fixed plan above roughly 485 kWh a month.
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: Geneco, PacificLight and Sembcorp charge 29.00¢, and the first two attach the largest cash rebates ($255 and $248), which brings a 4-room flat to about $105.57 to $105.86 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 $6.01 a month more than 29.00¢ at best, with rebates of $10 to $60. 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 is now led by PacificLight's 28.90¢ Savvy Saver 36 alone, since Keppel moved to 30.63¢ and Senoko to 29.95¢, and its GETBACK36 rebate gets to about $107.79 a month against Geneco's $105.57 on 24 months. Six months means Geneco's Give Us A Try at 31.00¢. For no commitment at all, PacificLight's Easy Save is the cheapest no-contract option, and it beats a 29.00¢ fixed plan for executive flats and condos.
Fewer than two months 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) is still missing from Keppel's sign-up page and plan data as of 27 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. That is 0.52¢ dearer than the 29.00¢ fixed plans but, since Senoko raised LifePower24 to 30.50¢ on 19 October, cheaper than Senoko's own fixed rate. 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. PacificLight's 9 to 9 has the lowest overnight rate in Singapore at 20.05¢, but it charges 36.95¢ by day plus $1.01 a day (about $30.74 a month), which sinks it for an ordinary household. Senoko's LifeSavvy24 is now 21.05¢ overnight and 37.95¢ by day. 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, and needs about 76% of your usage at night to beat 29.00¢. 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 followed the October cut at first, with five of six moving to 29.00¢, but Keppel and Senoko raised theirs again on 19 October, to 30.90¢ and 30.50¢, and Tuas is at 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 27 October 2026, returns four codes for FIXED24, which Keppel raised to 30.90¢/kWh on 19 October: 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, now 30.63¢, takes NEW100 for $100. The referral-only FIXED24 Special, now 30.40¢, carries up to $45 instead. At the new rate, Keppel's $145 best case works out to about $117.76 a month for a 4-room flat, which is dearer than Sembcorp's 29.00¢ with no rebate at all, so a Keppel code only makes sense if you specifically want Keppel.
