Now that the Open Electricity Market (OEM) has been rolled out, all households in Singapore can switch away from SP Group and choose their preferred electricity retailer. There are currently 12 electricity retailers in the market, including Tuas Power Supply.
Tuas Power has always been a big name in the industry (since 1995): as one of the leading power generation companies in Singapore, they generate and retail their own energy. Compared to electricity retailers that have to buy from power plants and then sell to consumers, it’s one less middleman in the way.
That may be reassuring to some, but the truth is that most of us are more concerned about the dollars and cents. How price competitive is Tuas Power Supply? Let’s compare their electricity price plans to find out.
Tuas Power Supply Review (Summary)
If you’re lazy to read the whole article, here’s what we found:
If you’re still into paying more money for Tuas Power… then read along.
Unlike some other retailers who offer non-standard plans — e.g. peak and off-peak pricing etc. — Tuas Power Supply only offers the 2 standard types: fixed rate and discount off regulated tariff.
There used to be 5 residential electricity plans in 2019. Price-wise, they weren’t very cheap. Today, Tuas Power is significantly more affordable and competitive. There are only 3 fixed rate residential electricity plans available for application, but the rates are at $0.2979/ kWh with GST, which is actually lower than SP Group’s current rates of $0.2990/ kWh with GST.
However, they do have regular promotions and a referral programme – 1% cash rebate with POSB Everyday card, sign up online using your friend’s referral code to get $20 in bill rebates, and if you recommended a friend to Tuas Power, you will get up to $20 per referral.
All prices include the transmission loss factor (i.e. you won’t be charged for it).
For those who may be interested in signing up for Tuas Power Supply, keep reading to learn more.
Tuas Power Supply electricity plan comparison
|Tuas Power Supply electricity plans||Price per kWh||Contract duration|
|Tuas Power FIX 12||$0.2979||12 months|
|Tuas Power FIX 18||$0.2979||18 months|
|Tuas Power FIX 24||$0.2979||24 months|
The above table is an overview of Tuas Power Supply’s electricity plans for residential households. Currently, there are only fixed price plans available for application online.
At $0.2979 per kWh, Tuas Power Supply’s fixed rate plan is cheaper than the current tariff of $0.2990 per kWh (1 April to 30 June 2022), prices inclusive of GST.
Interestingly, the price is the same for all contract durations, be 12, 18 or 24 months. This is unusual — most other retailers offer better rates for the 2- and 3-year contracts so they can lock-in your business. The longer the better mah.
And it’s not even because Tuas Power Supply’s rate is so good that they don’t need to bother with incentives… At the moment, they’re not even in the top 5 cheapest fixed rate plans. The lowest fixed rate plan is currently by Geneco ($0.2680 for a 24-month contract).
Tuas Power Supply — “discount off regulated tariff” electricity plans
|Tuas Power Supply discount off regulated tariff plans||Price per kWh||Contract duration|
If you prefer to peg your electricity rate to the regulated tariff (which is revised every quarter, 4 times a year), then you can opt for “discount off regulated tariff” plans.
While Tuas Power used to offer discount off tariff plans, they have since ceased such plans. The only discount off tariff plan available right now is by Senoko Energy at 6% off SP’s regulated tariff for 6 months.
Tuas Power referral code programme
Few years back in 2019, Tuas Power Supply’s referral promo code and programme called Referral+ was pretty popular. You could even find people designing their own referral code banners okay…
These were Facebook screenshots from years ago.
Initially, I just thought everyone was being very shameless and “kiasu” about earning some extra rebates… But who knew they actually had quite a good reason to?!
Compared to everyone else, Tuas Power Supply’s referral programme was next level… And by that I actually mean multi-level; as in multi-level marketing (MLM).
Here’s the example taken from Tuas Power’s website in 2019:
When you refer your friend Alice (Tier 1), you will get $20. When Alice refers her friend Bernice, you will get $10 (Tier 2). When Bernice refers another friend Calvin, you will get $5 (Tier 3).
Like most referral programmes, both the referrer and referee will receive bill rebates for each successful referral. If I refer you, we both get money — simple as that.
Tuas Power Supply’s Referral+ programme is still ongoing if you’re auntie enough to want to tap into this MLM-like programme.
Here are the deets: if you recommend a friend to use Tuas Power, your friend signs up online using your referral code, both of you get $20 off your bill (Tier 1). If your friend refers another friend, you get $10 off your bill (Tier 2). If your friend’s friend refers another friend, you get $5 off your bill (Tier 3).
When you sign up with Tuas Power, you will automatically receive your own referral code (via SMS and in your confirmation letter). Your friend (the referee) will need to key in your referral code (the referrer’s) in the “Campaign / Referral Code” field in the sign up form.
Do note that this will take 3 to 6 weeks to process, and is only valid for online sign-ups. So don’t even think of randomly approaching people at roadshows — it won’t work.
Tuas Power promotions
On top of the referral programme, Tuas Power Supply has several ongoing credit card promotions such as a 1% cashback with POSB Everyday Card, and up to 6% cashback with the UOB One Credit Card. Up to $100 bill rebate.
- Cash rebates on food delivery
- Up to 10%
- Cash Rebates on Utilities and Telecommunications bill payments
- Up to 3%
- Fuel Savings at SPC
- Up to 21.8%
Free 1-year Singlife with Aviva insurance
Also, all Tuas Power Supply customers can pick a complimentary 12-month plan from Singlife with Aviva for either Dengue Aid insurance, Home insurance, or Utilities Relief insurance. You just need to select it in your application form.
After that, an Aviva Relationship Consultant will reach out to you (around 2 weeks later). They will then help you apply for the free insurance coverage.
Have you tried Tuas Power? Tell us in the comments below.