Senoko Energy Review: Electricity Plans, Promotion, Referral Code (2022)

If you’re the kind of person who can never be bothered to turn the lights off when you leave the room, now is a good time to kick that bad habit.

That’s because electricity prices have hit the roof and show no signs of stopping. Singapore Power (SP)’s electricity prices are currently at a high of  $0.2974/kWh from October to December 2022. 

One way to make sure you don’t go broke paying for electricity is to pick an electricity provider that charges less. Senoko Energy is one of the most value-for-money electricity retailers on the Open Electricity Market. Let’s see how worthwhile their plans really are.

Contents

1. 1. 1. What is Senoko Energy?
      2. Senoko Electricity Plan Review
      3. Senoko Energy Fees
      4. Senoko Power Electricity Plans
      5. Senoko Power: Green Electricity
      6. Senoko Discount Off Tariff Plans
      7. Converting to Senoko Energy
      8. Senoko Power Promotions
      9. Senoko Energy Referral Code

1. What does Senoko Energy Do?

Senoko is an energy retailer licensed by the Energy Market Authority (EMA). That means they’re authorised to sell electricity on Singapore’s Open Electricity Market. Out of the 9 electricity retailers in Singapore, Senoko is one of the cheapest ones.

Compared to other retailers, they offer a wide range of residential plans, including some of the cheapest plans in town.

2. Senoko Electricity Plan Review

Senoko has four residential electricity plans to choose from. Let’s have a look at the deets.

Senoko Electricity Plans	Price (inclusive of GST)	Contract Duration
LifePower 24	$0.3130/kWh	24 months
LifeGreen 24	$0.3173/kWh	24 months
LifePower 12	$0.3160/kWh	12 months

Three of these are fixed rate plans.

Senoko LifePower 24 is their 24-month fixed rate plan, while LifePower 12 is their 12-month fixed rate plan.

Senoko LifeGreen 24 is also a fixed rate plan, and has the distinction of being a 100% carbon neutral plan. It’s the most affordable green energy plan in Singapore at the moment, so if you care about the environment this can be a good option to alleviate some guilt.

3. Senoko Energy Fees and Charges

Here are the other fees and charges you’ll have to pay when you have a Senoko energy plan.

Senoko Energy Fees and Charges	Fees
Registration Fee	Waived
Security Deposit	Waived
Late Payment Charge	$0.50 or 1% on outstanding charges, whichever is higher
Early Termination Charge	24 month plans: $535 if termination is before or within 1st to 12th month from contract start date $321 if termination is within 13th to 24th month from contract start date 12 month plans: $321 if termination is within 1st to 12th month from contract start date
GIRO / Credit Card Auto Payment Failure Fee	–

The main fee to look out for here is the early termination charge, which is expensive no matter when you terminate your contract. Senoko Energy might be offering some of the cheapest plans on the market right now, but if that changes one day and you want to switch to another provider you’ll need to factor in the early termination charges.

4. Senoko Power Electricity Plans

Senoko’s 24-month fixed price plan, LifePower 24, charges the lowest fees in Singapore at the moment. Let’s have a closer look at this plan.

Senoko Fixed Price Plan	Price	Contract Duration
Senoko LifePower 24	$0.3130/kWh	24 months
Senoko LifePower 12	$0.3160/kWh	12 months

How does the plan measure up compared to the offerings of the other mainstream electricity retailers? Turns out, Senoko’s price of $0.3130/kWh is one of the lowest in town. The only other retailer that has managed to match this price is Geneco‘s fixed electricity plan at $0.3112/kWh.

5. Senoko Energy Green Electricity Plans

Treehuggers, take note! Senoko also offers a 100% carbon neutral plan.

Senoko Green Electricity Plan	Price	Contract Duration
Senoko LifeGreen 24	$0.3173/kWh	24 months

This plan is currently the cheapest green energy fixed price plan in Singapore. Yup, none of the other green energy retailers offers anything that even comes close.

In case you want to compare, other green electricity retailers offering 100% solar energy and carbon neutral electricity plans include Sembcorp Power, Sunseap, and Keppel Electric.

6. Senoko Energy Discount Off Tariff Plans (ceased)

Other than offering the cheapest mainstream and green energy electricity plans on the market, Senoko Energy used to be the only energy retailer offering a discount off tariff plan in Q2 2022. They deserve a prize!

Their discount off tariff plan, Senoko LifeSaver 12, used to offer 3% discount off the Singapore Power tariff.

Back in the day, discount off tariff plans were quite popular, with most of the energy retailers offering them in order to convince people to make the switch from Singapore Power. Back in 2019, you could even get discounts of 20% to 25%.

7. How do I convert to Senoko Energy?

Due to Senoko’s low prices, you might be thinking of switching to them.

When you sign up for a Senoko plan, your electricity supply won’t be disrupted. Just make sure you email your existing electricity retailer’s customer support 2 to 3 months ahead of time to confirm that you don’t wish to renew your contact with them. Check the date on which your plan ends, then liaise with Senoko to start your new contract with them on the same date.

When you close your existing Senoko account, you’ll probably be required to pay admin fees and account closure fees. In fact, all electricity retailers charge the same account closure fee enforced by SP Group.

So, make sure you read the fine print terms and conditions in the footnotes of your contract and do the math ahead of time to find the most financially opportune time to terminate your existing plan.

Most electricity retailers will charge if you try to amend information in your account closure request as well. So make sure you get all your dates and info right the first time.

Finally, if you’re making the switch to Senoko Energy, make use of their ongoing promotions and referral codes to save a bit of cash, as listed below.

8. Senoko Energy Promotion

Senoko Energy is usually quite generous when it comes to promotions, with frequent offers of $90 and $60 bill rebates.

Here’s a summary of their ongoing promotions.

Senoko Energy Promo Code	Promotion	Expiry
YEAH60	$60 bill rebate on any 24-month plan	31 Dec
UOBHOLS80 (24-month)	$80 bill rebate with UOB credit cards (500 customers)	31 Dec
CITIYEAH90 (24-month) CITIYEAH10 (12-month)	$90 or $10 rebate with Citibank credit cards (750 customers)	31 Oct
HSCBHOLS90 (24-month) HSBCHOLS10 (12-month)	$90 or $10 rebate with HSBC credit cards (900 customers)	31 Dec
TBYEAH90 (24-month) TBYEAH30 (12-month)	$90 or $30 rebate with Trust credit card (200 customers)	31 Oct
–	2% rebate with POSB Everyday Card (cap $2 per month)	31 Dec

What’s more, if you’re a Senoko Energy customer, you get discounts when you shop with one of Senoko Power’s partners, such as:

• 20% off Petale Tea
• 10% off Antidote cold press juices
• 50% off Bettr Cloud Bar coffee (first month subscription only)
• $50 off Born in Colour furniture (min. spend $500)
• 10% off Fever Kayak Fishing Tour
• 15% off No Harm Done coffee capsules
• 10% off Sachi Soy Wine
• 12% off The Sustainability Project (kitchen and bathroom only)

9. Senoko Energy Referral Code

Save yourself and your friends a bit of money by referring them before they sign up.

To get your referral code, log into the Senoko Energy mobile app, tap “Refer and Earn” and retrieve your referral code.

Get your friend to use the referral code when they sign up for a Senoko account and both of you will earn a $30 bill rebate.

Thinking of switching from SP to an electricity retailer? Read more about the OEM here!