Cessation of Ohm Energy’s Open Electricity Market (OEM)

[micromousez]

Wow ohm also can mati. They were one of the hot favourites in the beginning.

Ya lo. I remember alot of ppl sign up with Ohm in the beginning.

 

[rackgen]

So once again daft Stinkaporeans who trusted PAPayas to have a policy left in the lurch

PAPayas will say it’s mistake of stinkaporeans for not being cautious

KNN

 

[Krabs.]

the open market idea is good , it started in late 2018 ....
but the pandemic created artifically low oil price when economy lockdown and high gas price when economy revive + winter
..... this low-high combo like tsunami wipeout the middlemen

better to close down ...... when the energy price back to normal create another clone to do same method again

 

[whuttt]

Ya lo. I remember alot of ppl sign up with Ohm in the beginning.

Me sign with ohm. But when contract up, the rates they offer show that they don't want to retain the customers. So i jump ship.
Wonder who is next.

 

[dude123]

Signed union at quite good rate.. PM Me for referral if need. ($30 rebate)

 

[micromousez]

Signed union at quite good rate.. PM Me for referral if need. ($30 rebate)

lowest rate seem to be Senoko Energy right?

http://compoundingdividendxdividend.blogspot.com/2021/10/hottest-topic-open-electricity-market.html

 

[mryongtan]

heng ah moi geneco 18 cent for next 2 year lol

possibly safer, as YTL Seraya generates 30% of SG's power supply.

 

[whatheheck]

these retail resellers damn evil, just got losses, quickly exit the game and break all contracts without penatly

Don't understand also. So telco sell cheap to MVNO. Sp sell to oem, then they suka suka can run road anytime once they no profits?

 

[IIIUSION]

Senoko up their prices liao!

 

[DragonFire]

yeap too bad. Ohm and iSwitch pie quite big, other big gencos are waiting

In this case the size of the pie killed them.

All the customers that signed up early are underwater assets. And I'd say the bulk of their customers signed up early during the gold rush.

Completely unsustainable with the LNG spike.

 

[DragonFire]

A generating company may be safer - but they can still choose to exit the retail market.

Referencing Geneco's terms and conditions.
https://signup.geneco.sg/Home/termcondition
Line 5.5.1 under ROLR events

1. the revocation or expiry or non-renewal of the Retailer's electricity retail licence;

=
In short, if the electricity retail license is not renewed (for whatever reason? inaction included?), a ROLR event is triggered which is a potential a liability free way out of signed retail electricity contracts.

This is *MY* reading of the T&Cs. Go read it yourself and form your own intepretations.

 

[manics]

Which of the remaining genco has bundled billing with SP?

 

[ramlee]

These companies got baited to start the OEM here.. end up SP win, they toh, people would be like "SP still safer"

Just like pap ish steel the best

 

[ramlee]

I'm affected, how come no email?

Because you ish not important customer

 

[ramlee]

Heng I generate my own electricity frm solar panels

Heng I chio bu
My eyes can 放電

 

[ramlee]

So now go switch to these oem or go back to sp?

Haven’t you learn your lesson?

 

[ramlee]

My july bill is $46
Aug bill 54
Sep bill $62

Almost same kwh consumption

How come your utility bill so Low?

 

[tellim]

Pacific light told me too late, stick w SP tarrif now is cheaper. So I will just wait n see first. Anyway even iswitch close down doesn't affect me cos electricity still run and deposit will be used to pay final bill, remaining balance paid back by cheque.

 

[ramlee]

Sometimes even monopoly also cmi, look at SPH

The ceo takes umbrage at your statement

 

[chiokcc]

At least got some "goodies" .... may not be much, but still ok ....

We are aware that your contract is at a lower value than the current regulated tariff. While not a requirement on our part, but as a token of our appreciation for your support, we would like to present you with an ex-gratia payment, which you can expect on your final bill with us. The ex-gratia payment is based on (a) the estimated consumption of your remaining contract period with us and (b) the difference in pricing between your current contract and a reasonable estimate of the prevailing market rate.