Keppel Electric: The “Safe‑Bet” of the Open Electricity Market
Remember the grand opening of the Open Electricity Market back in 2018? Since then, Keppel Electric has become a go‑to for many Singaporeans, toppling the suspects that are often “just a name in a market report”. And why would someone trust a brand that’s also a listed company? It’s like buying weekdays‑only stock options that you know will pay off.
Why People Pick Keppel
- Trust factor – Keppel’s the same Big “K” that owns the Sembcorp land, so it’s not your run‑of‑the‑mill “new‑ness” partner.
- Price wars – Their tariffs are pretty affordable, and they’re not shy about throwing in fresh perks.
- Promotions galore – From load‑shift incentives to cashback goodies, it’s almost like the supermarket has a loyalty program for electricity.
What Does the Menu Look Like?
If you’re scanning the electrical billboard, Keppel’s offerings can be grouped into three main categories:
- Flat‑Rate Plans – These are the simplest. Pay the same per‑kWh rate no matter how much you tumble through.
- Time‑of‑Use (TOU) Schemes – Hook yourself up to ‘peak’ and ‘off‑peak’ rates – they’re the solar‑friendly fans of the market.
- Rewards‑Based Deals – Sign up for loyalty perks, Netflix‑style bundling, or seasonal bonuses.
Watch Out For:
Even while the spotlight shines on Keppel’s trustworthy vibe, there are a couple of little shadows you might want to keep in focus:
- Hidden fees – Some plans come with administrative charges, especially if you’re a non‑resident.
- Contract stretch – Long‑term deals can lock you in at a rate that might become stale if newer competitors throw in cuts.
- Meter updates – Make sure your ancient electricity meter is upgraded; otherwise you could face over‑billing or flat‑rate penalities.
Bottom line: If you’re after a “classic” brand that keeps its promise, Keppel Electric is a solid pick. But as with all choices that promise savings, a cautious look at the fine print keeps the surprises to a minimum.
Keppel Electric plans comparison
Ready to Choose Your Keppel Electric Plan? Let’s Break It Down
Picking a plan from Keppel Electric is easier than you think—no rocket science, just a few numbers and a touch of personality. Here’s a quick guide so you’re not left scratching your head at the billing statement.
What’s on the Menu?
- Keppel FIXED24 – $0.2890 per kWh for 24 months
- Keppel FIXED12 – $0.2701 per kWh for 12 months
- Keppel ecoGreen24 – $0.3388 per kWh for 24 months (green energy)
- Keppel ecoGreen12 – $0.3388 per kWh for 12 months (green energy)
Bottom line: the fixed‑price plans are the cheapest, but that cost‑cutting price comes with a shorter contract—perfect if you’re not ready to commit long‑term. The ecoGreen plans, on the other hand, are a bit pricier but let you do your bit for the planet.
What’s New? (And What’s Gone)
Keppel’s previous DOT (Discount Off Tariff) and KNIGHT (peak/off‑peak) options have been retired. They’ve been upgraded to the ecoGreen 12‑month and 24‑month plans, priced the same as other green suppliers out there.
Fees—What to Watch For
Keppel’s policy is pretty friendly for Singaporeans and PRs: no security deposit and no welcome fee. But be mindful of a few common pitfalls:
- Late payment fee – 1 % of your bill if you slip past the due date.
- Paper‑bill surcharge – $2.14 per bill if you opt for a hard copy (e‑bill? Free as in freedom).
The big one is the early termination charge. If you decide to bail out of a long‑term contract, Keppel will ask you to pay about 30 % of the rest of your usual monthly bill for the remainder of the agreement. That’s a hefty price tag, so plan accordingly before you commit.
Why This Matters (and Why It’s Worth a Chat)
Contracts are like long‑term relationships: you want to know the terms before you dive in. If you’re a casual user or someone who’s not sure about their electricity usage, the 12‑month fixed plan might be your best bet. If you love green energy and don’t mind a slightly higher rate, the ecoGreen options are the way to go. And keep those extra fees in mind—you’ll thank yourself later when you’re not twiddling your thumbs paying late fees.
That’s all the juicy details you need to navigate the Keppel Electric maze. Stay smart, stay charged, and maybe even feel a bit green if you choose the ecoGreen path!
Keppel Electric FIXED24 & FIXED12 – fixed price plans
The Low‑Cost Playbook: Keppel Electric’s Fixed‑Price Plans
Looking for the most wallet‑friendly electricity rates in Singapore? You’ll need to snag one of Keppel Electric’s fixed‑price plans – it’s the gold standard these days.
What’s on the Menu?
- Keppel FIXED24 – $0.2890 per kWh – 24‑month lock‑in
- Keppel FIXED12 – $0.2890 per kWh – 12‑month lock‑in
Both offer the same sweet rate, so you get to choose how long you’re willing to commit. And, spoiler alert, this $0.2890 is currently the second cheapest on the market, behind Senoko’s $0.2680/kWh.
Why Keppel Still Stands Out
Though it’s not the absolute cheapest, Keppel pulls the 24‑month plan from the top of the heap. Think of it as locking in today’s price for next year – a 3‑year deal is a solid safety net if you expect prices to climb.
Commitment: The “Long‑Term” Roadblock
Three years is a pretty long time to tie yourself to a service. Before you sign, check out the early‑termination policy. The factsheet doesn’t spell it out directly, but the 2019 formula was:
(Days left in your contract) × (Your average daily bill over the last 12 months) × 30 %
That means you’d owe a whole third of what you’d pay if you stayed till the end. Not exactly a friendly cliffhanger.
Looking for a Softer Exit?
If that feels a bit steep, explore other retailers’ policies. Many indie players impose just a single penalty fee instead of the churn‑fee beast.
In a Nutshell
Keppel offers a bundled 24‑month plan that’s still one of the best on the market. It’s a balancing act: secure a low rate for the long haul but stay mindful of the exit terms—they’re the kicker that could turn a sweet deal into a heartbreak.
Keppel Electric ecoGreen24 & ecoGreen12 – carbon-neutral REC plan
Keppel Electric’s ecoGreen Plans
Keppel Electric is trying to hop on the green bandwagon with its ecoGreen plans. Launched in February 2022, the brand isn’t breaking any new ground—like most of the other electricity providers, they’re still relying on the big SP grid that burns fossil fuels every single dawn.
But there’s a silver lining: they let you buy Renewable Energy Certificates (RECs) so you can claim that your electricity usage feels a bit greener, even if the actual power that lights your house still comes from the old reliable grid.
Pricing & Commitment
- Keppel ecoGreen12 – $0.3388 per kWh – 12‑month contract
- Keppel ecoGreen24 – $0.3388 per kWh – 24‑month contract
What About Your Own Solar Panels?
If you’re living in a landed property, you can ask Keppel Electric to help you install solar panels. Awesome, right? Wait… hold on.
Here’s the twist: the electricity you harvest from your rooftop machine isn’t going to power your kitchen lights directly. You’ll have to sell that sweet, sunny surplus back to SP Group and gulp down a rebate that will slightly dent your bills. It’s a bit of a “call‑and‑grill” situation—feel the power, but not in your habit of turning on the kettle.
Bottom Line
Keppel Electric’s ecoGreen plans let you stride into the “green” label while still being part of the big energy deck. Solar? Sure—just remember you’ll be pocket‑saving on your bill rather than on your home’s power consumption. If you’re after a conscience‑calming, cost‑effective route, these plans might be worth a go. Good luck, future green warrior!
Keppel Electric DOT3 / DOT24 – discount off tariff plans (ceased)
Keppel Electric’s Power Play – Quick & Fun Guide
Looking to cut your electricity bill without signing a lifelong contract? Keppel Electric’s DOT plans might just be your new best friend. Let’s break it down in bite‑size, feel‑good chunks.
What’s the Deal?
Both DOT3 and DOT24 use a “discount off tariff” style – essentially you’re buying a slice of the market price set by EMA (the official electricity regulator). Right now, the ticker is at 25.07 cents/kWh for Q4 2019, but it can go up or down each quarter.
- Keppel DOT3 – 22 % off tariff (now 19.55 cents/kWh), 24‑month term but you can cancel after just three months.
- Keppel DOT24 – same 22 % discount, but it’s a straight‑up 24‑month contract.
Why 22 %?
It’s not the highest discount on the block. Some rivals like Ohm, Sunseap, and Union Power offer 23 % to 25 % off. Still, it’s a good deal that keeps you cheaper than the baseline SP price.
What Happens If the Market Goes Up?
Like any variable‑price plan, the rate can climb. The beauty is you’re still paying less than if you’d stay with SP. And if the tariff drops, your bill will follow suit – you’re basically riding the market’s ups and downs.
Keeping It Easy
With DOT3, you get the 22 % discount locked in for a full 24 months, but you can opt‑out after the initial three‑month trial. Just give a 60‑day notice and no early‑termination fee. That’s the low‑commitment sweet spot.
Ready to switch? Switch now and feel the lightness of a lighter electric bill – literally!
Keppel Electric KNIGHT – peak / off-peak electricity plan (ceased)
Keppel Electric’s KNIGHT Plan – Light, Dark, and a Hint of Night‑Owls
Ready to break up with your regular electric bill? Keppel’s KNIGHT plan might just be the romance you need – if you’re into the whole “lights off after midnight” vibe.
What the Plan Looks Like
- Off‑peak rate: 16.34¢ per kWh (11 pm → 7 am)
- Peak rate: 20.44¢ per kWh (7 am → 11 pm)
- Contract length: 24 months
Why It’s “Knightly” (or Not)
The low rate is pretty tempting—perfect for everyone who keeps the AC on during the night. But that 11‑pm cut‑off means you’ll pay the higher price for any power you use before midnight. Think of it as the electricity equivalent of a night‑time ban on your lamp, laundry dryer, or that midnight gaming session.
Is This Plan a Match for Your Lifestyle?
Ask yourself: Are you a middle‑of‑night coder, late‑night baker, or a “mornings look like 5 pm” person? If not, your savings will likely come mainly from your air conditioner. In that case, installing a smart meter to see exactly how your electricity spikes each hour is a must.
Stickiness Factor
This plan doesn’t leave you rent‑free for a preview—it’s a 24‑month lock. If you end up in a power‑time mess that doesn’t match your life, breaking out will be tricky.
So, if you’re feeling the midnight chill, this might just be your next great move. If your daytime routine is more of a “sun‑up” kind of thing, you might want to keep your curtains closed for the night and not leap into this deal.
Next steps: Keppel Electric promo codes & roadshows
Which Promo Code Should Power Your Finances?
Picture this: you’re standing in front of a giant billboard that says “Get More Energy for Less.” Instead of choosing a latte or a donut, you pick a promo code that saves you cash on your monthly electric bill. The good news? It’s super easy to see which one will give you the maximum bang for your buck.
Keppel Electric Promo Codes – The Short‑Form Cheat Sheet
- CITI30 – $30 off when you use a Citi credit card for a two‑year plan (only 500 customers). Expired June 14, 2022
- CITI20 – $20 off when you use a Citi credit card for a one‑year plan (also 500 customers). Expired June 14, 2022
- OCBC30 – $30 off for a two‑year plan with OCBC credit or debit cards (only 110 customers). Expired March 31, 2022
- OCBC10 – $10 off for a one‑year plan with the same OCBC cards (again 110 customers). Expired March 31, 2022
- UOB20 – $20 off for a two‑year plan using UOB credit or debit cards (limited to 100 customers). Expired May 3, 2022
As you can see, all of the offers above have already run their course. If you’re still looking for ways to get more for your money, stay on the lookout for new promos on Keppel Electric’s promotions page—trust me, you’ll only find a few left in the endless soup of energy deals.
Remember, this article originally came from MoneySmart. It’s a quick reminder that even when the cost of living takes a bite, you can still finish your bill with a smile—especially when you’re steering your finances with a little discount‑powered electricity.
