Sunseap Energy Offers Up To Three Months' Savings On Energy Plans For Businesses


January 12, 2018

Sunseap Energy, the Republic's largest clean energy retailer, is offering businesses customised electricity plans that will help them save up to three months' of their annual energy bills.

Sunseap's latest price plans will target customers with different needs and consumption patterns and will shave up to 25% off their monthly bills.

The first of three plans, GoEco, targets those with a need for up to 100% clean energy. The second, EcoSave, is for those more concerned about cost savings than going solar. The last plan, EcoFix, will help customers to lock in their electricity tariff for the next two years and not have to worry about fluctuating prices.

The plans are for customers with "contestability" status, that is they have an average monthly electricity consumption of at least two megawatt-hour or electricity bill of around $400 a month. These businesses were previously buying electricity at the regulated tariff from SP Services. They were able to switch to independent retailers like Sunseap since July 2011.

Mr Laurence Kwan, Vice President of Sunseap Energy, said: "Sunseap is Singapore's largest clean electricity retailer and we want to make sure we have tariff plans to cater to different customer needs. Our latest offerings will make it easy for companies that want to switch to more affordable or sustainable sources of energy to do so."

Mr Kwan said that companies need not worry about the stability of their power supply when they switch to Sunseap as the power will continue to be supplied to them through SP PowerGrid, which operates the national grid.

The process to switch suppliers is easy and speedy, taking less than three days with no interruptions to supply.

Mr Rob Khoo, Vice President of Marketing Communications & Sustainability of Sunseap Group who is also the Managing Director of Sunseap's subsidiary, SolarPVExchange, said: "Sunseap Group is always looking at innovative ways to help customers to embark on clean energy via technology or new financing options. For example, last year, SolarPVExchange also launched a hire purchase scheme for clients in landed homes, SMEs and condominiums who wish to install solar PV systems on their roof but are deterred by the upfront costs of buying a solar panel."

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Since 2001, the Energy Market Authority (EMA) has progressively opened the retail electricity market to competition to give business consumers more options to manage their energy cost. Currently, it estimates that around 90,000 business accounts, making up about 80% of the total electricity demand, are eligible to be contestable.

From April 2018, households and businesses in Jurong can choose to buy electricity from a retailer with an electricity plan that best meets their needs. The EMA expects a total of 108,000 residential consumer accounts and 9,500 business consumer accounts will be eligible.

The EMA is working towards a fully open electricity market in the second half of 2018 by allowing the remaining 1.3 million small consumers, mainly households, to choose whether they want to remain on the regulated tariff or buy electricity from retailers at market prices.

Sunseap plans to roll out similar electricity plans to households once the electricity market is fully liberalised in the later part of the year.

Since its incorporation, Sunseap Energy has supplied electricity to thousands of consumers in Singapore. Amongst its clients are government agencies, major companies and small and medium enterprises. In 2015, Sunseap Energy helped enable the world's biggest tech company, Apple, to achieve 100% clean energy status for its local operations.