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Compare and Save More on your Energy Bill with The UOB Utility Marketplace

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This post was written in collaboration with UOB. While we are financially compensated by them, we nonetheless strive to maintain our editorial integrity and review products with the same objective lens. We are committed to providing the best recommendations and advice in order for you to make personal financial decisions with confidence. You can view our Editorial Guidelines here.


Now that the Open Energy Market has been fully launched, all households in Singapore have the right to switch electricity providers beyond Singapore Power. That also means that all of Singapore can save money on electricity by choosing one of the available options.

Think about it this way – regardless of what plan you switch to, you are bound to save money from what you are currently paying.

That sounds great in theory, but actually trying to calculate how much you can save and which plan is best for you is not so easy.

As a result, many people still haven’t switched yet because of inertia and the desire to wait and see if anything changes.

 

Save money with the UOB Utility Marketplace

The UOB Utility Marketplace was created with the goal of making it simple for everyone to make the best choices for their utility providers. What this means is that on top of being able to compare plans from different electricity providers, you can also look at offers available for water, gas, broadband and even TV, all in one platform.

With the widest network of utility providers, there is a selection of 10 providers to choose from:

Electricity

  • Diamond Electric
  • Geneco
  • iSwitch
  • Keppel Electric
  • PacificLight
  • Sembcorp
  • Senoko Energy
  • Sunseap Energy

Electricity, Gas & Water  

  • Singapore Power

Broadband & TV

  • Singtel

Instead of having to comb through each utility provider’s website individually and liaising with a multitude of customer service officers, the UOB Utility Marketplace provides a one-stop shop for all your home utility needs. And with OEM still being somewhat new, it’s much easier having one platform where you can compare different electricity plans at a glance.

And on top of that, you’re also able to get information about Singapore Power and Singtel as well, which also does include bundle offers for home broadband and TV in the case of Singtel.

As an additional benefit, users who are looking for information on Home Loans, either to refinance or get a new one, can also do that on this portal too. Successful Home Loan applicants can get up to S$1,000 cash rebate if they charge any of the participating utility partners’ bill to their UOB Card.

 

How is this different from EMA?

The Energy Market Authority or EMA maintains a price plan comparison tool on their website, with which you can compare electricity providers’ price plans.

The catch is that EMA simply produces a long list of all the available plans and their rates without telling you which ones are most cost-effective for your solution. You won’t get a real perspective on how much you can save with the different plans.

What is more, only electricity providers are available EMA’s website. For other types of utilities such as water and broadband, you’ll have to look for help elsewhere.

With the UOB Utility Marketplace Plan Recommender, you will be able to get a view on the total estimated amount of savings you can enjoy based on your chosen type of price plan and duration, the sign up offer for comparison between the retailers as well as the UOB Card incentive. You are then directly linked to the retailer’s page to sign up for your chosen plan.

First, you just need to click on the purple tab on the right of the page and fill in the details in the pop up box. The platform then recommends the best plans for you, eliminating all those which are not relevant.You can then sign up for your plan of choice and charge your utility bills to your UOB Credit Card in order to earn rebates, miles and rewards.

 

Enjoy a whole range of discounts when you sign up with your UOB Credit Card

Another advantage of signing up for a utilities provider through UOB is getting to enjoy additional discounts and perks, such as the following:

  • Diamond Electric – Enjoy S$24 rebate on UOB Saver Plan. Plus, complimentary 12-month Personal Accident Insurance by AIA.
  • Geneco – Additional 1% savings for 12 months
  • iSwitch – Enjoy a S$55 rebate for the 24-month ‘Chope’ the Rate and Super Saver Discount plan. Complimentary iPad worth $498 for 36-month iPromo-iPad Plan, and you also get free air-conditioner service and AIA Personal Accidental Insurance worth $120
  • Keppel Electric – Enjoy a S$65 rebate using the promo code: UOBKEP65
  • PacificLight – S$68 rebate for 36-month plans (promo code: UOB68). S$50 rebate for 24-month plans (promo code: UOB50). S$20 rebate for 12-month plans (promo code: UOB20)
  • Sembcorp – Enjoy a $40 rebate and receive a complimentary 12month home insurance plan (promo code: UOB)
  • Senoko – Enjoy S$35 rebate with promo code: UOBSE35
  • Sunseap – Enjoy S$40 rebate. Go green with clean energy. Promo code: SUNSEAPUOB40
  • Singapore Power – Enjoy up to 6% cash rebate on Singapore Power utilities bill and up to 5% rebate on all your spend with the UOB ONE Credit Card
  • Singtel broadband and TV – Enjoy 4 free months of Fibre Broadband and Singtel TV

All promotions are valid till 30 June 2019, and there is also a current promotional offer of a $10 rebate for the first 5,000 UOB cardholders who register via SMS by 30 June 2019.

To find out more about the UOB Utility Marketplace, click here.

Customers who don’t have a UOB Credit Card can sign up for one here to start enjoying these offers.

 

Have you switched electricity providers yet? Tell us why or why not in the comments!

 

Related articles

Electricity Retailers in Singapore – Which Offers the Cheapest Electricity Price Plan?

Open Energy Market (OEM) Myths and Misconceptions – What Singaporeans Need to Know

Open Electricity Market (OEM) Singapore – 10 Important Things to Know

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