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Pacific Light Singapore – Comparison & Review of Pacific Light Energy Plans

pacific light singapore review

Clara Lim

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Though not a household name like Sembcorp Power or Keppel Electricity, Pacific Light Singapore is a power generator and electricity retailer in Singapore that’s making waves in the recent open electricity market rollout.

This is even more impressive considering Pacific Light isn’t even the cheapest on the market for either their fixed price or discount off tariff electricity plans. So what gives?

Well for one thing, Pacific Light offers some of the fattest bill rebate promotions in town. While one-off $40 rebates are pretty standard in the market, Pacific Light offers up to $80 in rebates thanks to some very generous tie-ups with credit cards.

Before you get too tempted by these carrots, take a look at the Pacific Light plans to see if they’re up to scratch.

 

Pacific Light Singapore electricity plan comparison

Pacific Light plan Contract duration Price per kWh
Super Saver 36 months 18.82¢ (with 5% discount = 17.88¢)
Stick To It 24 months 17.98¢
Stick To It 12 months 18.65¢
Confirm Save 24 months 22% off tariff = now 19.02¢
Confirm Save 12 months 22% off tariff = now 19.02¢
Save While Sleeping 24 months 10% off tariff = 21.95¢ (7am to 11pm) / 30% off tariff = 17.07¢ (11pm to 7am)
Save While Sleeping 12 months 10% off tariff = 21.95¢ (7am to 11pm) / 30% off tariff = 17.07¢ (11pm to 7am)

Pacific Light has 4 electricity plan types, which can make it confusing when you’re trying to decide on one.

But I have to credit Pacific Light for presenting the information in a clear and concise manner on their website. Their factsheets are actually mobile optimised and easy to read, as opposed to the horrible PDF files that most other retailers upload as an afterthought. Seems like a small thing, but I appreciate the effort to make the information clear to consumers.

Okay, before we move on to the plans in detail, here’s a couple of important costs to note:

First, the security deposit is waived if you set up a recurring bill payment with your credit card (Visa, Mastercard and Amex supported). Otherwise, it costs $60 to $780 depending on property size/type.

If you decide to cancel your plan ahead of schedule, you have to pay a one-time early termination fee of $60 to $780. This is quite lenient compared to other retailers who charge hundreds of dollars PER MONTH left in your contract.

For non-fixed price plans, you also have a one-time option to switch to another Pacific Light plan. There’s an admin fee of $53.50 for doing this but it’s good to have that option anyway.

 

Pacific Light Super Saver – 36 month fixed price electricity plan

Pacific Light plan Contract duration Price per kWh
Super Saver 36 months 18.82¢ (with 5% discount = 17.88¢)

“Standard” electricity plans (as defined by the Energy Market Authority) can only be 24 months long at most, but recently we’ve seen various retailers come up with 36-month fixed rate plans.

Despite the long commitment period of 3 years, the prospect of locking down today’s price for longer is certainly tantalising if you believe that the price of electricity will go up in the long run.

Apart from Pacific Light’s Super Saver plan, we’ve also seen similar plans from the likes of Geneco (17.78¢ per kWh) and Keppel Electric (17.88¢ per kWh).

With a standard rate of 18.82¢ per kWh, Pacific Light’s offering isn’t the most competitive, but it does offer a 5% bill discount every time you pay your bill on time and in full (which is doable if you link your credit card for security deposit waiver anyway!). That brings the price down to 17.88¢ per kWh.

Even after the (conditional!) discount, the price still doesn’t beat either of its 36-month competitors, so unless you’re particularly loyal to Pacific Light, I don’t see a compelling reason to go for them.

 

Pacific Light Stick To It – 12 / 24 month fixed price electricity plans

Pacific Light plan Contract duration Price per kWh
Stick To It 24 months 17.98¢
Stick To It 12 months 18.65¢

Pacific Light’s Stick To It is a standard fixed rate electricity plan, offered in either a 12 month or 24 month contract period. Naturally, the 24 month contract has the cheaper rate of 17.98¢ per kWh.

This isn’t the absolute cheapest price on the market – several retailers are offering 17.78¢ with their 24 month plans – but at less than 18¢ per kWh, it can be safely considered a “cheap enough” rate.

You may decide that the small premium you pay with Pacific Light is justified due to their more lenient early termination policy, though. (Two years IS a pretty long time.)

For reference, some other retailers charge very high fees such as $42.80 per month, multiplied by every remaining month of the contract. That’s a penalty of $513.60 if you cancel 12 months early!

Note that those who sign up for a fixed rate electricity plan are not eligible for a change in plan, whereas those with non-fixed rate contracts can switch to another Pacific Light plan if they pay an admin fee of $53.50.

 

Pacific Light Confirm Save – 12 / 24 month discount off tariff plans

Pacific Light plan Contract duration Price per kWh
Confirm Save 24 months 22% off tariff = now 19.02¢
Confirm Save 12 months 22% off tariff = now 19.02¢

“Confirm Save” is Pacific Light’s cutesy way of saying “discount off regulated tariff,” which to be fair doesn’t quite roll off the tongue.

In layman terms, this “regulated tariff” is simply the rate that SP Group currently charges. It’s set by the EMA every quarter, so there are fluctuations. For example, the tariff just dipped slightly for Apr to Jun 2019, but it can also rise in the future.

Discount off tariff plans are good for those who don’t mind fluctuations in their monthly bills, as long as they don’t rugi when there’s a drop in tariff. In any case your bill will “confirm” be lower than your SP bill.

But Pacific Light’s weakness is that its discount isn’t particularly high. Several electricity retailers are offering discounts as high as 23% to 25%.

If you’re deciding between various Pacific Light plans, note that the Confirm Save plans are currently more expensive than the fixed price plans. The tariff for Q2 2019 is 24.39¢ per kWh, making the rate 19.02¢ per kWh after discount.

 

Pacific Light Save While Sleeping – peak / off-peak electricity plans

Pacific Light plan Contract duration Price per kWh
Save While Sleeping 24 months 10% off tariff = 21.95¢ (7am to 11pm) / 30% off tariff = 17.07¢ (11pm to 7am)
Save While Sleeping 12 months 10% off tariff = 21.95¢ (7am to 11pm) / 30% off tariff = 17.07¢ (11pm to 7am)

Here’s an interesting non-standard plan that Pacific Light offers – it’s a variation on the “discount off tariff” type of plan, but the discount varies at different points in the day.

During “peak” hours, i.e. 7am to 11pm, the discount is only 10%. At the current tariff, this means you’ll be paying a very high 21.95¢ per kWh during the day and most of the night.

During the “off-peak” hours of 11pm to 7am, the discount jumps dramatically to 30% off, meaning you get a very cheap rate of 17.07¢ per kWh. That makes it suitable for, say, young working professionals who are out for most of the day (and night) and come home mainly to sleep while their air-cons blast away.

This is the only one of Pacific Light’s plans that requires an advanced meter to use this plan, which costs $42.80 to install. This doodad tells you how much you actually use every half an hour.

(If you’re only considering this plan, it’s a good idea to get one anyway so you get a better understanding of your actual usage.)

One thing to note is that Pacific Light’s Save While Sleeping isn’t the cheapest peak/off-peak plan on the market. Not many retailers offer this, but we found a cheaper one with Keppel Electric, although it’s a fixed price plan rather than discount.

However, I like that Pacific Light offers the option to switch to another of their plans (admin fee applies) if it turns out that this plan isn’t so great for your lifestyle after all.

 

Next steps: Pacific Light promo codes & roadshows

First, you should know that signing up with someone’s referral code can get you a $21.40 rebate off your bill when you do so. The other person makes $32.10. (Wah, Pacific Light got a lot of money to burn sia…)

But whether you want to make some random person on the internet rich, I leave it up to you. There are also tons of other generous promotions you can take advantage of, and I’ve compiled them here:

Pacific Light promotion Mechanics Expiry
American Express new sign-ups $80 bill rebate for new Amex card signups 30 Jun 2019
PLEUOB58R $62.06 bill rebate (36 month plan) 30 Apr 2019
SC50 (Standard Chartered) $50 cashback (24 or 36 month plan) 30 Jun 2019
PLEUOB38 (UOB) $40.66 bill rebate (24 month plan) 30 Apr 2019
American Express existing card holders $40 cashback Not stated
PLESTARHUB30 $32.10 bill rebate (24 or 36 month plan) + 3 months free Starhub Go Select subscription 30 Apr 2019
PLEUOB19 (UOB) $20.33 bill rebate (12 month plan) 30 Apr 2019
PLESTARHUB15 $16.05 bill rebate (12 month plan) + 3 months free Starhub Go Select subscription 30 Apr 2019

You can also go to a Pacific Light Energy roadshow and bug the staff for more discounts if you want to try your luck.

Have you signed up with Pacific Light? Share your experiences with us in the comments.

 

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Clara Lim

I used to be MoneyDumb. I hung out at H&M every day and thought that a $50 lunch set was a good deal. These days, I spend my time researching the crap out of life and trying to maximise utility on micro-decisions. I'm not sure if that's an improvement.