Lock in your electricity rate and stop worrying about quarterly SP tariff hikes. (Royalty-free image from Pexels)
Singapore Electricity Bills: How a Fixed Price Plan Saved Me 9.7% vs SP Tariff in 2026
Referral Code: Use RCAVHZP when signing up to lock in the best fixed price rate.
Singapore electricity bills keep climbing, and the quarterly SP tariff review cycle means you're always one fuel price spike away from a higher bill. But there's a proven way to take control: a fixed price electricity plan that locks your rate for years — not months.
This guide covers why Tuas Power's PowerFIX 36 at $0.2960/kWh beats the current SP regulated tariff, how much you can actually save, and exactly how to switch with referral code RCAVHZP.
Disclaimer: This article is for informational purposes only. Electricity rates and tariffs are subject to change. Verify current pricing at the official sign-up page.
Part 1: Why Your Electricity Bill Keeps Climbing
The Singapore regulated electricity tariff is reviewed every quarter by SP Group. It moves with global fuel costs, natural gas prices, carbon taxes, and transmission charges — all feeding into the final rate per kilowatt-hour (kWh).
SP Regulated Tariff (April to June 2026): 30.65 cents/kWh (with GST)
Compare that to Tuas Power PowerFIX 36: $0.2960/kWh (with GST) — locked in for 36 months.
That's a saving of 2.55 cents per kWh — roughly 9.7% below the regulated tariff. And because the tariff can increase in subsequent quarters, your actual savings over 3 years could be significantly higher.
What Drives Tariff Increases?
- Global fuel prices: Singapore generates most of its electricity from imported natural gas. When LNG prices rise, so does your tariff.
- Carbon tax: Singapore's carbon tax increased from S$5/tonne to S$25/tonne in 2024, with further increases planned to S$50-80/tonne by 2030. This directly feeds into electricity costs.
- Grid costs: Transmission and distribution charges are reviewed periodically and have trended upward.
The net effect: electricity costs have a structural upward bias. A fixed price plan doesn't just save you money today — it insulates you from future increases.
Part 2: Fixed Price vs Regulated Tariff — What Singapore Households Need to Know
Since the Open Electricity Market (OEM) launched, every Singapore household can choose between:
| Feature | SP Regulated Tariff | Tuas Power Fixed Price |
|---|---|---|
| Rate stability | Changes every 3 months | Locked for contract term |
| Contract | No contract | 12, 24, or 36 months |
| Current rate | 30.65 cents/kWh | From 29.60 cents/kWh |
| SP bill | Standard | Combined (Simplici-T billing) |
| Early termination | N/A | ~$150 (industry standard) |
The fixed price advantage is simple: you stop worrying about the quarterly tariff announcement. Every 3 months when SP announces the new rate, you check it for interest — but it doesn't affect your bill.
Part 3: Tuas Power — A Proven Electricity Retailer Since 1999
Tuas Power isn't a new entrant. They've been generating electricity for Singapore since 1999 — nearly 27 years. They're a generation company that also retails directly, meaning they control their supply chain and can offer competitive fixed rates.
Key advantages that set Tuas Power apart:
- Simplici-T billing: Your bill is combined with your SP Services bill. No separate payment portal, no extra login — it appears alongside water and gas charges on your usual SP bill.
- Established infrastructure: Tuas Power is a wholly-owned subsidiary of Hainan (Singapore) Holding, backed by HNA Group's industrial energy expertise.
- Competitive fixed rates: Among OEM retailers, Tuas Power consistently ranks competitively on the key metric: lowest fixed rate per kWh.
What Customers Say
From verified reviews on Seedly:
"I have been with Tuas Power since day 1 the start of open electric. Had sign up 12 months then continue with 36 months. Jan 2024 continue another 36 months. Best customer service that answer queries and assist without fail. My no. 1 trusted electric partner!"
"Decided to renew another 3 years. I find it's still the cheapest rate after comparison with other companies."
"My first time to signup and it was a breeze! SO easy and quick! The response was fast too."
Part 4: How Much You Actually Save
Let's be specific. For an average Singapore household in a 4-room HDB flat consuming about 375 kWh per month:
| Period | SP Tariff (30.65¢) | Tuas PowerFIX 36 (29.60¢) | Savings |
|---|---|---|---|
| Monthly (375 kWh) | ~$114.94 | ~$111.00 | ~$3.94 |
| Annually | ~$1,379.25 | ~$1,332.00 | ~$47.25 |
| Over 36 months | ~$4,137.75 | ~$3,996.00 | ~$141.75 |
For 5-room HDB flats (~500 kWh/month): ~$189 savings over 36 months.
For landed properties (~800 kWh/month): ~$302 savings over 36 months.
Important: These calculations assume the SP tariff stays at current levels. Historically, tariffs have fluctuated between 23-32 cents/kWh over the past 3 years. If tariffs rise — which is the structural trend given rising carbon taxes — your savings will be significantly larger.
Part 5: Why PowerFIX 36 is the Best Deal
Tuas Power offers three fixed price plans on the savewithtuas platform:
| Plan | Duration | Rate (with GST) | Savings vs SP Tariff |
|---|---|---|---|
| PowerFIX 12 | 12 months | $0.2971/kWh | ~9.4% |
| PowerFIX 24 | 24 months | $0.2971/kWh | ~9.4% |
| PowerFIX 36 | 36 months | $0.2960/kWh | ~9.7% |
The PowerFIX 36 is the clear winner:
- Lowest rate: $0.2960 vs $0.2971 for shorter terms
- Longest protection: 3 full years of rate certainty
- Maximum tariff hedge: If carbon taxes and fuel costs rise over 3 years (likely), your savings compound
- No renewal anxiety: One sign-up covers you through mid-2029
Part 6: How to Sign Up with Referral Code RCAVHZP
The sign-up process takes about 10 minutes online:
- Visit the Tuas Power sign-up page: https://www.savewithtuas.com/sign-up/
- Enter your SP account number — it's on your latest SP bill
- Select PowerFIX 36 for the best fixed rate
- Enter referral code: RCAVHZP during sign-up to lock in the rate
- Submit and Tuas Power handles the rest — they coordinate with SP Group for a seamless transfer
Referral code: RCAVHZP — enter this on the sign-up form to get the fixed price plan rate.
What to expect after signing up:
- Confirmation email within 1-2 business days
- Transfer completed in 2-4 weeks (Tuas Power coordinates with SP Group)
- No supply interruption — SP Group still manages the grid and delivers electricity
- First bill combines Tuas Power charges with your normal SP bill (Simplici-T)
Part 7: Common Questions About Fixed Price Electricity Plans
Is there any risk from the retailer?
Tuas Power is a licensed electricity retailer regulated by the Energy Market Authority (EMA). In the unlikely event a retailer exits the market, EMA has a safety net — customers are transferred back to the SP regulated tariff without penalty. This has happened before (iElectric, Best Electricity) and the process was smooth.
Can I switch back to SP?
Yes, but there's an early termination fee (~$150) if you're still within your contract period. Wait until your contract ends to switch back without penalty.
Does the fixed rate include GST?
Yes. All rates quoted above include GST. There are no hidden fees — what you see is what you pay.
What if I move house?
Tuas Power can transfer your contract to your new address if it's within their service area. Check with their customer service team.
Is it worth switching for a small household?
Even for a 3-room flat (~250 kWh/month), you'd save approximately $2.63/month or ~$94 over 36 months. It's still meaningful — and the rate protection from future tariff increases applies at any consumption level.
Part 8: The Verdict — Should You Switch to a Fixed Price Plan?
Switch if:
- You want to lower your electricity bills without changing your usage habits
- You prefer rate certainty over quarterly tariff surprises
- You plan to stay in your current home for at least 12-36 months
- You don't want to think about electricity providers for the next 3 years
Don't switch if:
- You're moving overseas or selling your home within the contract period
- You believe electricity tariffs will drop significantly below $0.2960/kWh and stay there
For most Singapore households, the math is straightforward: Tuas Power PowerFIX 36 at $0.2960/kWh is cheaper than the current SP tariff today, locked for 3 years, with a combined bill, from a licensed retailer with 27 years of Singapore operations.
🛒 Ready to save on your electricity bill?
Sign up for Tuas Power PowerFIX 36 and use referral code RCAVHZP:
The sign-up process takes about 10 minutes. Tuas Power handles the transfer with SP Group.
Bonus: 5 Quick Tips to Lower Your Electricity Bill Further
Switching to a fixed price plan is the single biggest lever, but these additional steps add up:
- Switch off at the plug: Standby power accounts for up to 10% of household electricity use. Unplug chargers, TVs, and appliances when not in use.
- Set air conditioning to 25°C: Every degree lower adds 8-10% to your cooling costs. Use a fan alongside to stay comfortable.
- Use LED lighting: LEDs use up to 80% less energy than incandescent bulbs and last 25x longer.
- Wash clothes on cold cycles: 90% of a washing machine's energy consumption goes to heating water. Cold wash is gentler on fabrics too.
- Check NEA energy labels: When replacing appliances, choose 5-tick models. The savings in electricity over their lifespan often exceed the upfront cost difference.
Referral code: RCAVHZP — use it when signing up at savewithtuas.com.
Published: June 2026 — This article is for informational purposes only and does not constitute financial or utility advice. Verify all rates at the official sign-up page before committing.
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