Comparison of Open Electricity Retailers: OHM vs Geneco vs Best Electricity vs Tuas Power vs iSwitch

I have switched to OHM fixed plan.
Referral Discount Code: OHMREFE31549
This will give you a $20 credit to offset your electricity bills if you are a new Ohm customer.

Comparison of Open Electricity RetailersComparision of Electricity Retailers(Source: https://compoundingdividendxdividend.blogspot.com/2019/01/hottest-topic-open-electricity-market.html)
(Visit his blog for Tuas Power referral discount code, if you choose Tuas Power)

OHM

Smooth transition as they are partners with SP group.

There is no need for any paperwork nor additional payment of deposit.
User-friendly website. Signing up is immediate, just fill in some personal details online and you will get the Welcome Email in less than 15 minutes.

Pros

1) Easier to switch from Singapore Power. Same Billing Structure as before.

2) No extra charges from processing fee and compulsory purchase of AMI Smart Meter.
No worries about paying more than the quoted rates, as all third-party charges are inclusive.

3) Referral Code can be used multiple times, stacked.

4) Promotions; Discounts on your Ohm electricity bills.

5) No additional Deposit (Initial $200 Deposit in SP previously, will be transferred to the OHM account)

6) Optional carbon offset 

7) Absorb TLF (Transmission Loss)
Ohm absorbs transmission loss factor costs as of 26 April 2018. Ohm was actually the first to do this.
Some other unscrupulous retailers actually hid the TLF behind cryptic terms like “Loss-Adjusted Consumption”.

This means saving an extra 3.4% savings on Ohm.

8) 3 Months Trial Period No termination fees during the 1st 3 months.
This means you can bail out if you think there is a much better offer out there.

A long contract under the right terms can be to your advantage but it’s mainly there to lock you in as a customer.

9) AMI meter not required.
None of their plans requires a meter upgrade, but you can optionally upgrade to an AMI meter for $40 (payable to SP group) if you wish to.

10) No unnecessary spending on marketing and salespeople.
Instead, they pay you to refer others if you think their service is great.

They also have a lean corporate structure which means less cost of operations to recover from you.

Cons

  • Lesser Cashback rebates compared to other retailers

Best Electricity

  • Similar to Ohm, but I choose Ohm because they have renewal discounts.

If you are a Fixed Ohm or Ohm Discount user, and you’re about to extend your stay with us, we love you. And to show you just how much, we’re giving you a bonus! The longer you stay with us, the more you will save.

If you renew on Fixed Ohm:

· 6-month Fixed Ohm – 3% off 3 electricity bills*
· 12-month Fixed Ohm – 4% off 6 electricity bills*
· 24-month Fixed Ohm – 5% off 12 electricity bills*

* Bonus will apply from the month following the end of your trial period

Tuas Power 

  • Early Termination Charge of $200.

iSwitch 

  • Additional $4.95 monthly Service fee.

Geneco

Pros

1) Cheapest kWh for 24 months fixed plan after GST.

2) Promotions; Linkpoints, POSB & UOB Credit Card Rebates.

3) Deposit Waived from Nov 1

4) Option to opt out of carbon tax

5) Absorb TLF (Transmission Loss)

Cons

  • Different separate billing from water and gas.
  • Extra Charge from processing fee and compulsory purchase of AMI Smart Meter which amounts to $50+

My suggestion is either Ohm or Tuas Power.

They give you the best rates without any of the fuss or traps that other retailers have.

Furthermore, what clings the deal is that Ohm offers a 3-Month Trial, with no penalty to switch plans to an even lower Ohm plan, or other retailers from 1 March or subsequent rollouts if SP tariff does go down.

It is included in its Fixed Ohm or Ohm Discount plan.

Do read more from Ohm’s Well written and comprehensive FAQ.
I have yet to see another retailer that has an FAQ section that is more comprehensive than what they have.

See for yourself & use this discount code for $20 off your Ohm Electricity bill.

Referral Discount Code: OHMREFE31549