Why we choose Geneco as our OEM (Open Electricity Market) Supplier - TheWackyDuo.com - Singapore Wacky Magazine

Why we choose Geneco as our OEM (Open Electricity Market) Supplier

If you are living in downtown Singapore with postal code 01-33,  you can now choose your own electricity supplier today!

Rollout Dates
Zone 1 58-78 1 Nov 2018
Zone 2 53-57,79-80,82-83 1 Jan 2019
Zone 3 34-52,81 1 March 2019
Zone 4 01-33 1 May 2019

It's great news as this means you can effectively save up to 30 % on your electricity bills when you make the switch to an OEM supplier. Depending on your usage, it could mean savings of a few thousand a year, giving you savings to splurge on that holiday.

We assessed how to choose an Open Electricity Market in our previous post. After much research, we decided to go ahead with Geneco as our preferred electricity supplier.

Why we choose Geneco (Updated Apr 2020)

After extensive research, we decided to choose Genoco as our supplier. Geneco has the best all-round deal for fix rates for this month. We took up the fix plan for the next 2 years. These are the factors that swayed us.

  • The cheapest fixed 24 months plan at 17.98c per Kwh + Price Match for 24 months plan
Base on the electricity tariff over the past 2 years, it has never gone below the fix rates advertised. In addition, having a fixed plan takes away any doubts about price fluctuations in Tariffs. It will make planning your finance a lot easier. For Geneco, they will price match for similar plans for their 24 months plan. That effectively made them the cheapest in town!

  • Discount Rebate for a selected time
Get a one time rebate of $5050 off your bill if you apply for selected plans.  Used the Code TAKE50 ($50 off bill rebate, limited signup.

Want more discount?

There are additional discounts if you use a referral code. For additional $20 rebate on top of the ones already provided. you can use this code 8154 2233 * under Referral Code

Established Company

Backed by Power Seraya, one of the largest and established power generation company in Singapore with its own power plants. This ensures that prices would remain competitive among its peers.

  • No Hidden cost

Carbon tax included and  TLF charges absorbed.

  • No Security deposit required
Unlike some other supplier, there is no need to place additional security deposit.
  • Transparent Early Termination Fee

Fix Early Termination Fee compared with other retailers that charge according to the months left. As low as $130 for HDB 3,4,5/ HDB Executive.

Dwelling Type


HDB 1 or 2 rooms$ 60
HDB 3, 4 or 5 rooms/ HDB Executive$ 130
Executive Condominium/Condominium/Private Apartment$ 180
Terrace House/ Semi-Detached House$ 350
Bungalow$ 720

  • Price Match Guaranteed 
If you managed to source a better price under the same terms within 7 days, Geneco will price match and provide a refund via shopping vouchers.

  • Rebates from Credit cards used
There are several tie-ups with major banks. You can either get rebates or discounts off the monthly bill. Tie-ups include OCBC, UOB, Maybank and POSB.

POSB - 1 % cash rebate on electricity bills
UOB - 1 % UOB rebate (for 12 months) on recurring bill
OCBC - Additional $10 Rebate plus 3% cashback on monthly recurring (t& c applies)

Details can be found here

  • Ability to stack rebates

Eg Fixed-Rate 2 Years
Promo Code Rebate: Take50 - $50 off
Referral Rebate : 8154 2233 - $20

Total savings of $70 * per signup!
(As of  Apr 2020)

Sign up for Geneco here

Good luck on choosing your new electricity supplier!

*Prices correct as of Apr 2020

#thisisnotasponsoredpost #goodthingsmustshare #freeresearch

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