Open Electricity Market (OEM) [NO SHARING/REQUEST OF CODES] - Part 5

[K202020K]

The whole open energy market thingy, yes savings is there. But once got consumption billing issue, wah the tai chi is really one big mess. Retailer say its sp, sp say check with retailer.... wah lao...

That's why 60% are still undecided lah bro.
Let the 40% be their guinea pigs lor.

 

[K202020K]

can you explain where is your data that shows SP have been overcharging you by 30% over several decades ?

some months back, a forumer here made an excellent chart based on data from 2009-2017. please see this post :https://forums.hardwarezone.com.sg/1...-post7695.html

from 2nd quarter 2009 to - 2nd quarter 2012, wholesale rate (=USEP+vesting contract charges+transmission charges+recurring market charges) were most of the time higher than SP's tariffs. if open electricity market was implemented during that period, none of the present retailers would be able to offer any products to sell to us.

from 4th quarter 2012 onwards, USEP started to fall and widened its gap relative to SP tariffs. and the reason was because massive generation capacity from various gencos started to come onto the scene.

from 4th quarter 2015 to now, USEP hovers around near rock bottom levels, such that wholesale rate would be probably around 30-35% below SP tariff.
all the gencos started to suffer massive losses because the SP tariff rate is a very close reflection of the cost of electricity production. hyflux closed shop, and recently the japanese-owned senoko energy talking about borrowing money to sustain their business.

and from 4th quarter 2018, OEM started, and all retailers barked about 30% savings below SP tariffs. so, your "30% more, over several decades" is actually 2016,2017,2018, ie three years.

after nearly 1 year of OEM, and with so much good rebates and rewards to switch to a retailer, 60% of households still quite happy with the 30% "overcharging" by SP.

the excellent chart above shows that wholesale price is a function of (generation capacity vs demand) & oil price. in the past several decades, have we seen generation capacity exceeding demand by 2 times ?, which is the present case ?

in the next few years when gencos start to retire their older generators and total capacity comes down versus demand, and depending on market conditions and oil prices, it is not unthinkable we may need to switch back to SP tariffs.

do you really know what are you barking about ?
"30% more, over several decades without making even an apology & appropriate restitution??"

60% have a money issue.
Too much money, don't know how to spend it. Song boh?
Your argument is purely based on the infallibility of the said "excellent chart" lah.
Don't know whether is it supplied by SP or not.
You think you'll definitely get the true picture? No honest mistake scenarios to factor in? Lol .....
Then, why they are so unwilling to bring down the tariffs despite such an overwhelming spread? It's just unthinkable .....

 

[Zitxdr]

Sooo I may need some help guys.

I had Geneco for 6 months, until 17 Dec, but moving in another place on 5th Jan.

I don't want to renew with Geneco as they have higher prices now...

I want to switch back to SP group for the remaining time, how to do that?? I can't seem to find any information anywhere

 

[Jurong640]

Sooo I may need some help guys.

I had Geneco for 6 months, until 17 Dec, but moving in another place on 5th Jan.

I don't want to renew with Geneco as they have higher prices now...

I want to switch back to SP group for the remaining time, how to do that?? I can't seem to find any information anywhere

Have you tried to contact Geneco? You can tell them that you do not want to continue with them. You will be reverted back to SP once Geneco drops you off.

 

[Hafi]

Sooo I may need some help guys.

I had Geneco for 6 months, until 17 Dec, but moving in another place on 5th Jan.

I don't want to renew with Geneco as they have higher prices now...

I want to switch back to SP group for the remaining time, how to do that?? I can't seem to find any information anywhere

I am confused... switch back to SP and pay 20% more? Wouldn't switching to another OEM retailer make more sense?

edit: oh if I understand correctly, you are moving to another location then your existing place should be empty and not utilized?

 

[Mecisteus]

Sooo I may need some help guys.

I had Geneco for 6 months, until 17 Dec, but moving in another place on 5th Jan.

I don't want to renew with Geneco as they have higher prices now...

I want to switch back to SP group for the remaining time, how to do that?? I can't seem to find any information anywhere

Switch to SP Wholesale plan for the time being.

After moving to a new location, you can switch to another retailer again.

Send an email and private message to Geneco FB page. Inform them of your intention to switch out.

https://www.geneco.sg/residential/faq/

 

[hfngshnll]

60% have a money issue.
Too much money, don't know how to spend it. Song boh?
Your argument is purely based on the infallibility of the said "excellent chart" lah.
Don't know whether is it supplied by SP or not.
You think you'll definitely get the true picture? No honest mistake scenarios to factor in? Lol .....
Then, why they are so unwilling to bring down the tariffs despite such an overwhelming spread? It's just unthinkable .....

ah, so you do not have any excellent data of your own to backup what you said ?

based on your blah blah blah about tampering of AMI meter readings, cheat setting it to 1.2 times of normal consumption and "just a black box nia","even if meter is accurate, the numbers could be bumped up later on computer processing","60% have a money issue. too much money don't know how to spend, song boh?" lol .... i have more trust and faith in the data integrity of that chart than in yours. besides, if SP fudged the data for that chart, will all the different power gencos owners, the japanese, chinese, malaysians, foreign entities keep quiet ?

the formula for SP tariff is clearly defined. it is a function of fuel cost(oil price) & non-fuel costs(generation,transmission,support).

how do you artificially bring down the SP tariff rate when the formula components are already there for you to plug in the numbers ?

instead of whining about the SP tariff, enter the OEM. now everyone can choose their own supplier with different pricings. but also need to bear in mind that in future, market conditions could repeat as happened in 2009-2012, such that the wholesale rate climbs back up to or exceed SP tariffs. when that happens again, anyone wants to whine about the SP tariff ? which is why SP still allows people to switch back to them.

you can continue with your blah blah blah...cheers. lol.

 

[ilovetoeat]

Hi all,

Does anyone have Union Power referral codes? Please pm me. Thank you!

 

[matey1982]

Sorry dont have

Hi all,

Does anyone have Union Power referral codes? Please pm me. Thank you!

 

[ilovetoeat]

Sorry dont have

Trying my luck

Sure got people sign up before.

 

[K202020K]

ah, so you do not have any excellent data of your own to backup what you said ?

based on your blah blah blah about tampering of AMI meter readings, cheat setting it to 1.2 times of normal consumption and "just a black box nia","even if meter is accurate, the numbers could be bumped up later on computer processing","60% have a money issue. too much money don't know how to spend, song boh?" lol .... i have more trust and faith in the data integrity of that chart than in yours. besides, if SP fudged the data for that chart, will all the different power gencos owners, the japanese, chinese, malaysians, foreign entities keep quiet ?

the formula for SP tariff is clearly defined. it is a function of fuel cost(oil price) & non-fuel costs(generation,transmission,support).

how do you artificially bring down the SP tariff rate when the formula components are already there for you to plug in the numbers ?

instead of whining about the SP tariff, enter the OEM. now everyone can choose their own supplier with different pricings. but also need to bear in mind that in future, market conditions could repeat as happened in 2009-2012, such that the wholesale rate climbs back up to or exceed SP tariffs. when that happens again, anyone wants to whine about the SP tariff ? which is why SP still allows people to switch back to them.

you can continue with your blah blah blah...cheers. lol.

I'm not a consultant in this specific sector so, yes, I do not have the company specific, confidential information to back up my views. They were my calculated conjectures which may not be very distant from reality, knowing full well the way certain groups operate in our country.
The best method that I could think up is to carry out a thorough assessment on the group's financial assets, over the decades. The true story may then emerged.
Of course, you have every right to believe in your assertions on this topic.
Thank you for sharing them with us. I truly appreciate your kind effort.
Good day.

 

[Ahboy069]

Is anyone on ohm 25% below tariff plan. ?
Anyone with discount code ?
How is the experience with ohm or geneco !?
Thinking of ohm or geneco and switching soon

 

[xspace]

My place is pretty new. And I do not have access to the meters (so I can't tell) as it's all consolidated in a cabinet, locked up by the mgmt.

I think i see daily consumption on the App (e-services is under maintenance now so I can't see).

 

[gekjunxu]

Any chance anyone has Union Power also? Hehe can pm me also thanks!

Hi all,

Does anyone have Union Power referral codes? Please pm me. Thank you!

 

[marckrest]

Hi anyone got pacific light referral code can pm me? Thanks!

o not sign up with PacificLight. They have poor customer service and hidden charges such as security deposits

 

[GrahamAker91]

I need $20 referral code for unionpower . please pm me .

Geneco deals nowadays lousy and very dishonest and bad customer service. When sign up for recurring credit card rebate, to enjoy it, card need to be successfully charged a certain amount. They will either play around with your first bill cycle or play around with your sign up rebate or referral rebate, so that your credit card wont be charged that minimum amount to qualify for the credit card rebate within that short limited timeline or limited number of redemptions. When email Geneco customer service or call up, they cannot really be bothered and say their finance team is in charge of this, they cannot interfere. Email energy market authority, they say its their private affair, company promotion, so wont interfere even though they playing around with the billing to manipulate rebate awarding Got price guarantee but somehow not the cheapest fixed rate. Maybe i didnt read the terms and conditions properly.

Hi,

I'm currently using Union Power, please pm me for referral code. Thanks!

 

[GrahamAker91]

Hi all,

Does anyone have Union Power referral codes? Please pm me. Thank you!

Hi ilovetoeat,

I'm currently using Union Power, please pm me for referral code. Thanks!

For others who need referral code, feel free to email me:
"grahamaker91" combine with "@hotmail.com"

Will send out within a day, thanks!

 

[GrahamAker91]

Any chance anyone has Union Power also? Hehe can pm me also thanks!

Hi gekjunxu,

I'm currently using Union Power, please pm me for referral code. Thanks!

For others who need referral code, feel free to email me:
"grahamaker91" combine with "@hotmail.com"

Will send out within a day, thanks!

 

[matey1982]

How come got pple ask for referral code?

Is tt allowed in hwz?

 

[Jurong640]

How come got pple ask for referral code?

Is tt allowed in hwz?

can ask for referral code via PM. But cannot openly advertise and show people your referral code.