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Reduce Your Electricity Bill | How to Save on Electricity Bills Singapore

Budgeting
by Priyadarshini 17 May 2022

Singapore’s energy tariffs, as well as food and gas costs, are set to rise more, much to the chagrin of consumers like you and me. With rising inflation, it is only natural that we begin analyzing how efficiently we use our resources and money. In this blog, we tell you how to reduce your electricity bill?

Similarly, it is past time for us to begin attempting to cut our electricity bills by conserving energy at home. We’ve compiled a list of frequently asked questions about electricity rates in Singapore so that you can take suitable steps to reduce your electricity consumption at home.

Reduce Your Electricity Bill

To offset rising electricity bills in Singapore, use Credit Cards

Do you want to be more knowledgeable in the future? Use the appropriate credit card to pay your electricity payments. While you may believe that all credit cards restrict such purchases from earning rewards, a select few cashback credit cards genuinely assist consumers in saving money on their electricity bills and other expenses.

Switch to Open Electricity Market (OEM) retailers

While OEM retailers’ electricity price plans aren’t substantially cheaper than SP Services’ regulated electricity tariff these days, there are still savings to be obtained from the slightly lower rates given. OEM retailers provide bill rewards for referrals as well as for setting up recurring credit card bill payments to encourage homes to make the move.

Whether you like it or not, these bill refunds can help you save money on your electricity bill. If you continue to use Singapore’s default energy provider, you will not be eligible for rebates.

Utilize U-Save utility rebate coupons

Did you know that U-Save GST vouchers can help you save money on your utility bills? If your household is qualified for U-Save GST vouchers, you may be confident that the refunds will be deposited to your household’s utilities account, which SP Services maintains. Take note that the U-Save rebates will first be utilized to offset gas, water, and refuse collection for people who have moved to an OEM retailer and are being invoiced individually by the OEM retailer. Any residual credits can then be used on your OEM retailer’s electricity bill!

When will you receive your U-Save GST vouchers for 2022? The rebates will be distributed in installments in April, July, and October 2022, as well as in January 2023.

Choose energy-saving appliances

It goes without saying that the more energy-efficient your electrical equipment is, the better. Before purchasing new home equipment, look for energy-efficient ticks on the labels. Even if they are more expensive at first, your savings may outweigh the upfront cost over the life of your appliances.

LED light bulbs should be used – Reduce Your Electricity Bill

LED light bulbs, in general, use the least amount of electricity to reach the same degree of brightness as other types of light bulbs. Aside from the savings, they also have a longer lifespan, which is a win-win situation that helps cut expenses on both fronts.

Set your air conditioner to 25 degrees Celsius

It is logical that most of us require air conditioning in order to work and sleep comfortably. After all, Singapore is hot virtually the entire year. However, for the sake of your money, it is recommended that you set the air conditioner temperature to 25 degrees Celsius. This is especially true if you use your air conditioner for extended periods of time.

When not in use, turn off all plugs

Appliances left on standby can consume a significant amount of power unwittingly – in fact, they can account for up to 10% of our electricity bill! TVs, TV set-top boxes, microwave ovens, water heaters, and speakers are examples of common equipment to keep an eye on. When not in use, turn them off at the power source to save money and cut your electricity bill as soon as possible.

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Tags:
budgeting
budgeting tips
electricity bills
Lifestyle
Singapore
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