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If you are a residental customer, you will certainly have siginifcant savings. There are also bundled offers you ought to consider which may benefit your usage profile.
Absolutely, the quality of services remains the same. There would be no distruptions to your service.
Congratulations, awesome decision. You will be switched to the retailer seamlessly, and you will be updated via email, once your transfer is complete. No further action is needed on your part.
Your electricity bill will be sent directly by the retailer of your choice, instead of Singapore Power (SP).
Your gas, water and refuse bills will be still administered by SP.
No, there would be absoluetly no difference at all. The reliability and quality of electricity supply is the same regardless of the retailer you choose.
Certainly not. Your electricity supply will not be affected by the transfer as the transfer process is purely administrative and will be performed electronically by the licensed retailer you choose.
The Energy Market Authority (EMA) has been deregulating the electricity market in phases since 2001, starting with business in Singapore. This was done to promote competition and hence increase efficiency in the electricity market. Eventually, the government intends to open up the market to full competition, implying that homeowners/residential will be able to purchase electricity from private retailers. This liberalisation effort has benefitted contestable consumers (businesses registered in Singapore) with lower rates, bundled and innovative products as well as improved service. Next year after April 2018, the remaining 1.4 million households will have the option to switch retailers to buy electricity or to remain on the regulated tariff from SP Services (SPS).
Voltz receives preferential rates due to the volume deals from high demand in this online platform. The rates are live and is transparent upon purchase. Retailers are binded to the value plans/rate and will need to honour the bidding rate stated in this dynamic process.
Upon the inclusion of power usage requirements from the customer, the customer will then need to select the time limit for the bidding process (if the customer chooses to bid instead of static plan purchase). The minimum period option for bidding is 12 hours and the maximum will be 72 hours. Then the customer, hits the “start bid” tab to start the bidding process. The customer can monitor the progress of the bidding process at any time within the selected bidding period to see the best proposals or plan options. Voltz will list the best options for the customer based on their requirements i.e: lowest costs, highest number of gifts / vouchers & etc. The customer also has the option to select a preferred proposal before the bidding process is completed should they want to do so. Finally upon completion of the bidding process, the customer is able to see all the competitive proposals given to him/her for evaluation and selection. The customer has 12 hours to complete their purchase upon completion of the bidding process, Voltz would like to advise customers to confirm their order as soon as they have selected as only upon selection of the plan, the Retailers will be required to honor their proposal to customer inclusive of the related gifts & vouchers. In Summary, A) Add in your information / customer requirements, B) Bid, start the bidding process, C) Confirm your purchase - easy as ABC...
Voltz receives preferential rates due to the volume deals from high demand in this online platform. The rates are live and is transparent upon purchase. Retailers are binded to the value plans/rate and will need to honour the bidding rate stated in this dynamic process.
Voltz generates a list of available power plans for your evaluation and confirmation to purchase based on the existing static data (pre-existing plans from all retailers). Voltz will also provide an option for the customer to utilize the bidding option on our Voltz platform if they would like to evaluate other possibly more competitive proposals from the retailers. The nature of the bidding process allows all retailers to view the proposals which have been sent to customer by each other, this enables the retailer to compete by lowering his prices, providing more gift vouchers ant etc to make it more lucrative for the customer in selecting a power plan with them. Upon completion of the purchase, Voltz will prompt the customer to select if they would like Voltz to retain their personal details (such as NRIC, email, mobile numbers etc) for their next visit or to remove from our system records.
Of course you can; however, Voltz provides a transparent platform comparing prices from majority of retailers, giving you full control of the prices especially through our auction, ensuring the best deal compared to approaching a retailer directly.
It’s perfectly safe as Voltz uses authorized online payment mechanisms such as Paypal, Android Pay & ***. Furthermore, the credit card details are only to secure a SGD$50 deposit as an authorization to start the Voltz bidding process as well as the evaluation of Power plans based on the static data. As the priced plans require the retailers to honor their commitment to their proposals, they in return would need commitment from the customers to purchase their plans. The SGD$50 deposit will not be deducted and is only in place as a guarantee against spam. This is a similar process as with checking into hotels, the hotels keep a debit / deposit which will be offset upon completion of stay / payment for hotel stay.
Currently, business consumers with an average monthly consumption of at least 2,000 kWh (equivalent to a monthly electricity bill of at least $400) are eligible to switch to become contestable. Consumers are allowed to add up their electricity usage across different locations in Singapore to meet the threshold to become contestable. When the Open Electricity Market is launched, there will no longer a minimum average monthly consumption threshold required if consumers want to become contestable. Starting April 2018, households and businesses in Jurong can choose to buy electricity from a retailer with a price plan that best meets their needs. The soft launch of the Open Electricity Market (previously referred to as Full Retail Competition) will provide consumers with more choices and flexibility in their electricity purchases.
Yes definitely. From the 1st of April 2018 (for those consumers with postal code starting with 6…) will have a choice to change your electrical retailer. Regardless of still being under a contract with retailers, you have the choice to leave your details for the purpose of evaluating your options of how a priced plan through Voltz could benefit.
By switching to become a contestable customer, your electricity usage is metered remotely every half an hour under TOD/AMI meters by SP Services Limited (SPS). This minimises the need for bill estimation and improves the accuracy of the bill. From 1 April 2014, eligible consumers have had their Advanced Metering Infrastructure (AMI) electricity meter installed by SP PowerGrid before approval of their contestability application. The monthly metercharge is:
$1.83 each for single phase AMI meter
$2.49 each for three phases AMI meter
Capped at $12.50 for multiple AMI meters at a single location
Voltz is safe and it’s neutrality allows the sole beneficiary to be the customer / consumer. Voltz platform uses only authorized payment facilities such as Paypal, etc. Using Voltz allows the consumer to purchase the preferred power plan as per their own requirements without additional costs for a plan which they don't need and also using Voltz bidding process forces the Retailers to compete with each other in order to win your business which guarantees your best value for money.
The price plan that you have contracted will be valid for the entire length of contract. Auto renewal of contracts is dependent on individual retailers. We will notify you when your contract is about the expire and will recommend the best plans to switch to at that point of time.
LThe consumers don’t pay anything to Voltz, The retailers will pay a small nominal fee for the registration and for their accounts in order to be allowed to compete for deals.