What is Senoko Referral Code For Friend?
This Senoko Referral Code for Friend helps both you and your friend to each earn a $30 bill rebate when you sign up for Senoko Energy with your friend’s referral code.
Are You Looking for a Senoko Energy Referral Code?
Here’s my Senoko Energy referral code GYMI73WR. You get $30 bill rebate and I will get the same too.
What are other Senoko Promo Code To Use?
Besides the Senoko Energy Referral Code, you can use other Senoko promo codes at the same time.
Currently, there are a few promo codes available (valid until 20 Apr 2021). You can only use 1 of these promo codes, together with the Senoko Power Referral Code for Friend.
For more details on the latest promo codes, check out this link https://www.senokoenergy.com/households/promotions
5 Reasons I Switch over to Senoko Energy
The following reasons led me to switch to Senoko Energy:
Big Brand Name
Senoko Power is one of the largest energy generator in Singapore, responsible for creating approximately 20% of the nation’s electricity supply and they have been around for over 40 years. This gives me assurance that they are less likely to get out of business, which will result unnecessary paper work & research time for me to change to a new electricity retailer.
Competitive Fixed Plan
Using this site (https://compare.openelectricitymarket.sg/#/home), at the time of writing, the company offers the most competitive pricing for 12 and 24 month plans. They also have automatic contract renewal. Renewed electricity rates will also be lower than regulated tariffs at renewal time.
Highest Rebate Plan
At the moment, there are several rebate promo codes ranging from a $100 bill rebate to a $135 bill rebate (valid til 20 apr 2021). Depending on which bank you have your credit card with, you will need to use the appropriate code.
This is not a factor in my decision to sign up, but it is nice to know that Senoko Power offers a rewards program.
No Security Deposit & Registration Fee
No security deposit & registration fee is required as of time of writing.
Why Make The Switch From SP to a Electricity Retailer?
If you choose the Discount Off the Regulated Tariff Plans, you will always pay less than what you would to the SP group. Signing up is definitely a good idea.
Electricity rates are also lower with the Fixed Price Plans. Discount rates are, however, not as large as Off the Regulated Tariff Plans. Nevertheless, you receive a fixed price lock-in throughout the contract duration.
There is a risk that the regulated tariff will drop below your fixed price, which means you will lose out.
In the event that electricity rates rise in the future, the fixed plan could be a better deal, since you can hedge against future electricity rate increases.
Fixed Plan vs Discount Off the Regulated Tariff Plans?
Source : SP Group
If we look at the historical electricity tariff rate from SP for the past two years (see chart above), the current price offered in Fixed Price Plan is lower. Despite the tariff rate falling to 19.60 cents (before GST) in the third quarter of 2020, it has since risen.
In view of the global outlook for energy demand and a gradual return to normalcy from the Co-vid situation, it may be wise to choose the Fixed Price Plan.
If you want to be absolutely sure, you might prefer the Discount Off the Regulated Tariff Plan.
My choice is the Fixed Price Plan because I think the electricity price will rise, so I want to lock in a price now. Taking the Fixed Price Plan will also spare me from the surprises of watching electricity rates rise and fall.
6 months, 12 months or 24 months fixed plan?
Therefore, since I am choosing the Fixed Price Plan, I will choose the longest fixed plan available, which is 24 months.
And I chose Senoko Energy as its 24 months plan is the most competitively priced with highest rebates.
My Senoko Power Referral Code
If you need a Senoko Power referral code, you can use mine GYMI73WR (I will get $30 rebate and you will get $30 rebate too).
Will my Electricity be interrupted when I make a switch?
You will continue to receive electricity even when you switch retailers, since SP group continues to run the national power grid and deliver your electricity.
If you find this senoko energy review post helpful, and you wish to get a $30 rebate too, feel free to use my Senoko referral code GYMI73WR.
(This post is just for sharing. The opinions are a result of my personal research. This post is not sponsored by any electrical providers)
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