In July, I shared in my video How inflation affects my daily life that my electricity bill will be up by 25% in September once my previous contract expired.
Then, I was considering if I should carry on with Keppel Electricity with their fixed plan or just go back to Singapore Power. While their FIXED24 rate of 26.83c/kWh was lower than SP tariff of 27.74c/kWh then, tariff was on a decreasing trend. So I wasn’t sure if I should lock myself in for 2 years.
I finally decided to go for it as I had a $60 discount and also this would give me certainty of my electricity bill for the next two years.
Based on my family’s average consumption of 264 kWh a month, the monthly bill going forward will be about $77 after GST. That is about 21% higher than the average bill size of $63 over the past 6 months.
Not nice but now that I am on this fixed plan, I do not need to worry about fluctuation in the tariff for the next 2 years. (haha, does this sound like what a REIT manager will say after locking in the interest rate for the next few years)
The deal was sweetened recently when SP announced an increase in electricity tariff from October to December. So now what I need to do is to think if my family can reduce electrical consumption further.
Yes, also need to reduce the use of gas and water, given that the rate is increasing too. If only they have a fixed rate too.
If you like the idea of going on fixed rate and want to switch to Keppel Electric, you can click on my referral link. They currently have a promotion where you can get up to $30^ Bill Rebate.