• Thu. May 23rd, 2024

Keppel Electric – Comparison & Review.

Samuel Hall

BySamuel Hall

May 8, 2022
Keppel Electric

Keppel Electric has been the best popular energy supplier from the Major Energy Market launched in 2018.

Keppel, like Sembcorp Power, is a publicly-traded corporation with a well-known brand name, making it appear more reputable than “unknown” sellers like the erstwhile iSwitch. And, after all, Keppel Electric has some pretty outstanding deals and promos, so why not?

Let’s take a look at the power plans offered by Keppel Electric and see if there’s something you must be aware of.

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Keppel Electric
Keppel Electric

Plans from Keppel Electric are compared.

Plan for Keppel Electricity. Cost per kWh. Contract length.
FIXED24 by Keppel. 0.2890 dollars Two years.
FIXED12 Keppel 0.2890 dollars One year.
Keppel ecoGreen24 0.3388 dollars Two years.
ecoGreen12 Keppel 0.3388 dollars One year.

Selecting a Keppel Electric package is relatively simple. There are three main categories to select from, each with different contract lengths and prices.

Keppel’s lowest plans are, predictably, fixed pricing plans. However, the shorter obligation plan seems to be the cheapest. DOT (discount rate) and high point KNIGHT programs have been taken away.

However, the fresh Keppel eco-green one to two-year programs have been introduced, valued at $0.3388 per kWh, as other green power plans.

As per their information sheet, Keppel Electric doesn’t even need a damage deposit for both Singaporeans, including PRs, nor would it charge an administration or application cost to start an entity.

However, there are typical but preventable costs, such as a 1% missed payments fee and $2.14 for each invoice for paper invoicing (e-bills are free).

The highest cost to be aware of is Keppel Electric’s untimely termination fees.

Unlike some providers that demand a one-time cost for early termination, Keppel Electric requires you to pay around 30 percent for the contract’s term; the usual rate will apply.

Fixed pricing plans from Keppel Electricity are FIXED24 and FIXED12.

You must choose one of such fixed pricing plans if you want the best rates from Keppel Electricity. This is common practice among Singapore’s electricity companies.

Electricity wholesalers had always reserved the lowest prices for the lengthier lock-in periods, which made perfect sense. Keppel Electric now provides the same $0.2890/kWh tariff for 12- and 24-month agreements.

Keppel Electric’s ecoGreen24 and ecoGreen12 REC plans are carbon friendly.

Keppel Electric’s eco-green initiatives use SP’s primary grid for power (which burns fossil fuels). Still, Keppel assists its clients in obtaining Renewable Energy Credits (RECs) to offset their carbon impact. You must sell the collected renewable panels directly to SP Group for refunds on your power bills.

Keppel Electricity DOT3 Or DOT24 β€” pricing plans with savings (ceased).

The DOT plan with Keppel Electrical intends to rely on a “markdown off tariff” approach. The power price fluctuates based on the EMA’s semiannual electricity prices. The 22% discount is guaranteed for 2 years. However, you can leave whenever you want, as long as you’re willing it out until three months.

Peak/off-peak power program by Keppel Electric KNIGHT.

The KNIGHT non-standard service from Keppel Power includes two different pricing varying with the time daytime. The off-peak pricing of 16.34 cents per kWh is quite appealing.

However, it begins at 11 p.m. Before this, any power you consume β€” lights, water heaters, AC, and so on β€” would be charged at a much higher rate of 20.44.

It’s worth noting that the commitment is for 2 years, making it difficult to cancel if you find out that the package isn’t right for you.

Samuel Hall

Samuel Hall

Samuel Hall, a renowned name in the world of finance and wealth management, has devoted more than two decades to understanding the intricacies of the financial realm. As the chief contributor to WealthServing, Samuel has enlightened thousands with his insights on wealth accumulation, risk management, and smart investment strategies.