SWITCH TO OPEN ELECTRICITY: ONE MUST-KNOW IMPORTANT POINT BEFORE YOU BUY!

Dear readers, the electricity market in Singapore is now opening up. Just like our mobile and internet plans, there are now electricity retailers which you can sign up for to buy your electricity from under a contract, at prices that are touted by these retailers to be lower than the current prices charged by SP Group. The different electricity market retailers are now in full force, holding roadshows and promoting their packages and contracts with very decent electricity prices and some free gifts.

But before you sign up for a package under a particular retailer, there is one important point which you must know before you sign on the dotted line. And that is while the rate per kwh offered by a retailer could really be lower or the lowest, you must always check whether there are other charges which the retailer does not tell you upfront that you must pay on either a monthly or annual basis; these charges could be the so-called service fees which may only be disclosed when you prepare to sign up for the package.

As always, do your full diligence when it comes to buying electricity just with any other products which you buy. While buying electricity is new, and I think many of us may easily sign up on a package after being shown low rates so as not to really bother ourselves with understanding the salient details of what seems to be a complex process, doing your research before committing your hard-earned monies and not rushing into buying is only the wise thing to do. Here is one resource for you to do your comparison of all price plans, hope you will find it useful! Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.