Frequently Asked Questions
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Choosing Geneco
Why is the electricity retail market being deregulated?
The deregulation of the electricity market will encourage and promote competition within the various players in the electricity market and hence, provide competitively priced packages to consumers.
Since 2001, EMA has progressively opened the retail electricity market to competition to allow business consumers more options to manage their energy cost. Instead of buying from SP Group at the regulated tariff, eligible consumers can choose to buy from a retailer at a price plan that best meet their needs, or buy from the wholesale electricity market at the half-hourly wholesale electricity prices. Those who exercise this choice are termed as contestable consumers.
How do I know if my business is eligible to switch from SP Services to Geneco?
With the open electricity market, all businesses are eligible to apply for contestability and switch to a retailer of their choice regardless of consumption. The application process is free of charge.
Click here to view our electricity plans and we will assist with the application for contestability for a switch to Geneco.
What are the choices for contestable consumers?
If you are contestable, you can choose to purchase electricity from one of the following methods:
- From a Licensed Electricity Retailer (such as Geneco).
- From the Wholesale Spot Market as a direct market participant.
- From the Wholesale Spot Market through the Market Support Services Licensee (MSSL) (which is currently SP Group).
What are the advantages of buying from Geneco?
With over 49 years of power generation, Geneco is attuned to the changing needs of our customers and has been working hand in hand with businesses to provide them with a wide range of pricing options and energy solutions – enabling them to choose packages that best meet their needs.
Adopting a transparent approach, customers can be assured of excellent service quality coupled with a suite of services that centre around an efficient electricity supply to our customers.
To receive a competitive quotation from us, you may request for a quotation here. Our sales professionals will then contact you and work out a customized energy solution for your business.
Why is MSSL under SP Services Ltd involved in my account switching from SP Group to Geneco?
SP Services Ltd, a member of SP Group, is the Market Support Services Licensee (MSSL) providing Market Support Services such as reading of electricity meters, data management and facilitation the transfer of customers from electrical retailers.
Once Geneco has established the transfer, your meter reading data records will be provided to Geneco from SP Services Ltd/MSSL.
Power Eco Add-on
What are Carbon Credits (CCs)?
Carbon Credits (CCs) represent a reduction or removal of carbon dioxide equivalent of Greenhouse Gases (GHG) achieved by various projects around the world, which comply with and are registered under internationally recognised standards, such as the Verified Carbon Standard (VCS).
You may find out more here.
What are Renewable Energy Certificates (RECs)?
Renewable Energy Certificates (RECs) represent units of electricity generated from renewable energy generation facilities. These facilities comply with and are registered under internationally recognised standards, such as the I-REC standard, and are eligible to be issued RECs for every unit of electricity generated.
You may find out more here.
What is the difference between Carbon Credits (CCs) and Renewable Energy Certificates (RECs)?
Both CCs and RECs represent the positive impacts on the environment that can help mitigate GHG emissions. CCs represent the metric tonnes of emissions that have been avoided or reduced, while RECs represent attributes of the megawatt hours of renewable energy generation. You can read our blogs and find out more about the difference between Carbon Credits and Renewable Energy Certificates.
Where are the Carbon Credits (CCs) and Renewable Energy Certificates (RECs) from?
Geneco works with a network of partners to source for CCs and RECs from projects in India, China, and Southeast Asia.
I would like to reduce my business’s carbon footprint, how should I go about signing up for Power Eco Add-on?
Kick-start your business’s eco-journey in 3 simple steps:
Step 1: Choose an electricity plan (12/ 24/ 36 months)
Step 2: Select Carbon Credits (CCs) OR Renewable Energy Certificates (RECs)
Step 3: Choose your level of green contribution (25%/ 50%/ 75%/ 100%)
I have an existing active Electricity Retail Contract with Geneco, can I still sign up for Power Eco Add-on?
If you are not on any Power Eco Add-on for your existing Biz Fixed 12/ Biz Fixed 24 / Biz Fixed 36 active contract, you may opt for either CCs or RECs and choose your level of green contribution (25/50/75/100%).
If you are already on Power Eco Add-on for your existing active contract, you may choose to upgrade your level of green contribution.
You may opt for Power Eco Add-on or upgrade via the Power Eco Add-on tab in the Self-Service Portal.
Why am I not eligible to opt-in/ upgrade for Power Eco Add-on under my existing active Electricity Retail Contract?
This might be due to one of the following reasons:
- Your electricity plan already includes Power Eco 100% Add-on
- Your existing active Electricity Retail Contract is up for renewal
- You are under the 30 calendar days grace period for autorenewal
- You have requested to close/transfer out your account from Geneco
- Your Electricity Retail Contract has yet to start
- You are not on the eligible price plan (Biz Fixed) to opt-in for Power Eco Add-on
How do I receive my Carbon Offset Certificate or Renewable Energy Certificate?
At the end of the last billing cycle of each calendar year or contract end/termination, Geneco will determine how many CCs/RECs you will be receiving based on your electricity consumption and the percentage of CCs/RECs that you have chosen. Geneco will retire the CCs/RECs on your behalf and you will receive the soft copy of the Carbon Offset Certificate or Renewable Energy Certificate via email no later than the end of March of the following year.
The last billing cycle of each calendar year is defined as the billing cycle that consists of the last day of the calendar year, and the last billing cycle of each contract end/ termination is defined as the billing cycle that consists of the contract end date/termination date.
The Certificate will show how many CCs/RECs was retired on your behalf for that calendar year.
Why is CC Add-on a non-taxable charge while REC Add-on is a taxable charge?
The Inland Revenue Authority of Singapore (IRAS) announced in November 2022 on its website that the issuance, transfer, or sale of Carbon Credits—or the digital representation of such credits—will no longer be treated as a supply of goods or services for Goods and Services Tax (GST) purposes as of 23 November 2022.
Whereas, no statement has been made regarding the treatment of Renewable Energy Certificates, and it will continue to be treated as a supply of goods or services for the purpose of Goods and Services Tax (GST).
How is the amount of Greenhouse Gas (GHG) emission determined from my business’s consumption of electricity?
The GHG emission associated with your electricity consumption is determined from multiplying the Electricity Grid Emission Factor (GEF) by the amount of electricity you used. The latest GEF published by the Energy Market Authority is 0.4168(kg CO2 / kWh) in 2022.
| Year | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Grid Emission Factor | 0.4206 | 0.4085 | 0.4074 | 0.4085 | 0.4168 |
| Year | Grid Emission Factor |
|---|---|
| 2018 | 0.4206 |
| 2019 | 0.4085 |
| 2020 | 0.4074 |
| 2021 | 0.4085 |
| 2022 | 0.4168 |
*The historical 2021 GEF has been revised by EMA.
To learn more about the Electricity Grid Emission Factor, you can find out more here.
Do I need to install a solar PV system at my business’s premises if I choose the Power Eco Add-on (RECs)?
No, the installation of a solar PV system is not required for Power Eco Add-on (RECs). However, if you have unutilised roof space at your business’s premises and are keen to install solar panels to further reduce carbon emission, you can visit our website and submit your interest for a site visit.
Will the Power Eco Add-on affect my business’s electricity supply?
No, your business’s electricity will continue to be supplied from the electricity grid.
Can I change the percentage of CCs or RECs that I get from my Power Eco Add-on or cancel it during my contract?
Once your contract has been activated, you will be able to upgrade your Power Eco Add-on percentage at any time. However, you will not be able to downgrade or cancel it during your contract period.
How are my meter readings recorded after switching to Geneco?
Readings will be done via Advanced meters, also known as smart meters or Advanced Metering Infrastructure (AMI) meters which allow electricity consumption to be measured at half-hourly intervals.
How do I know if I am charged correctly for my utilities usage?
Meter data is downloaded by MSSL (SP Group). This ensures the highest level of accuracy in your electricity charges.
What should I do if I suspect that my electricity meter is faulty?
You can request for a meter test through SP PowerGrid (SP Group) at 1800 778 8888.
An administrative fee of $80 will be imposed (by SP Group) for each test and this is fully refundable if the meter is found to be faulty.
Are there additional charges for installing a new meter?
For non-contestable Business consumers who would like to gain contestability, you will need to install a new Advanced Metering Infrastructure (AMI) electricity meter. The installation charge by SP PowerGrid will be at $40/meter (excl GST).
Can I switch back to SP Group?
You can switch back to buy electricity from SP Group at the regulated tariff. Businesses with an average monthly consumption of less than 4,000 kWh (monthly electricity bill of $800 or lower) can switch back to buying electricity from SP Group at the regulated tariff.
You may check the eligibility to switch back to buy electricity at regulated tariff here.
Will there be any early termination fees if I did not fulfil my contract?
Yes, early termination fees will be imposed where applicable if the consumer did not fulfil the full term contract.
My contract is expiring. What should I do?
Contact us at contact@geneco.sg or reply to the email that you will receive before your contract expiry. Alternatively, you can choose to review your existing plan by filling up the form here.
What is the procedure for an account closure if I am moving out of my existing premises?
Please submit the account closure form 30 days in advance and we will contact you on the procedure of closure. Alternatively, please contact us at contact@geneco.sg or here.
How will the change in GST rate affect my monthly bill?
From 1 January 2024 onwards, the revised GST rate of 9% will be applied on all chargeable items which include, but not limited to:
- Published Prices related to Electricity Rates
- Administrative Charges (such as Account Closure Fee, and more)
Invoices dated on or after 1 January 2024 may contain both an 8% GST charge for your electricity usage before 1 January 2024 and a 9% GST charge for your electricity usage from 1 January 2024 onwards.
How do I pay for my Geneco invoices?
You may choose the payment methods below:
- One-time payment
- PayNow via QR code. Please refer to your monthly invoice for the unique QR code.
- Telegraphic Transfer (TT) / Funds Transfer. You may also transfer the funds to our bank account directly.
- AXS Station, AXS e-Station or AXS m-Station by selecting Geneco on the payment platform. Kindly note that AXS transaction has a payment limit for each transaction.
- Recurring payment
- GIRO. Please download and complete this GIRO form for:
Account no. with 10-digits only.
Account no. starting with "BC".
Original copy to be mailed to us at:
Seraya Energy Pte Ltd
450 Alexandra Road #01-01
Singapore 119960
Why is Geneco encouraging e-Bill instead of sending paper bills statement?
Geneco strives towards paperless billing for our environment. In line with our commitment towards environmental sustainability, we are going digital and would like to encourage all customers to go paperless. You will be notified of your monthly bill and payment due date via email. You can also login to customer portal to get an overview of your bills and outstanding balance.
If you have not received your log-in details, please contact us at contact@geneco.sg or here.
How do I request for past bills?
You can check the past bills (up to 12 months) via our Geneco Self-Service Portal here. If you require billing history prior to 12 months, please write to us here. Kindly note that there will be a charge of $5.45 (Inclusive of GST) per bill requested.
Who can I contact for assistance on my Geneco account?
If you have any queries regarding your account or wish to make any changes/updates to your account, please contact us at contact@geneco.sg or here.
What is Carbon Tax and how does it impact my Geneco bills?
During the Singapore Budget 2018, it was announced that a carbon tax of S$5 per tonne of carbon emissions will be introduced from 2019 to 2023. In line with these measures, a carbon charge will apply to all commercial customers for every unit of electricity consumed from 1 January 2019 onwards. This initiative aims to encourage both emitters and downstream consumers to be more energy efficient. Click here for more information about carbon tax.
How is Transmission Loss Factor (TLF) calculated?
The Transmission Loss Factor (TLF) is calculated by the Market Support Services Licensee, SP Services Ltd in accordance with the methodology approved by the regulator, the Energy Market Authority of Singapore. To learn more, visit our page here.
What is Use of System Charge (UOS)?
The Use-of-System charges, which is payable to SP Group, is to recover the cost of transporting electricity through the national power grid. Please note that the charges differ according to the voltage at which a consumer receives the electricity supply. To learn more, visit our page here.
Common Energy Terms
AFP Charge
This is the charge for the recovery of the cost incurred for the procurement of Regulation. Regulation is energy needed to fine-tune between the generation and consumption of electricity on a half-hourly basis.
Contestability
The right to choose among electricity retailers for electricity purchase.
Contestable Consumer
Consumer who has the right to choose how and whom they want to buy electricity from.
EMC Admin Charge
EMC (Energy Market Company) operates the wholesale electricity market. EMC runs the electricity pool and manages the energy settlement processes. This is a usage-based charge calculated using loss adjusted data.
Energy Audit
A programme whereby an energy auditor or energy auditing company inspects a facility or premise to assess the energy use and suggest ways of saving energy.
Energy Market Authority (EMA)
The regulator of the electricity and gas industry in Singapore.
Energy Market Company (EMC)
The company that operates and administers the wholesale electricity market.
Generation Company (Genco)
A company that produces electricity.
Grid
A system of interconnected power lines that transport electricity from generators to consumers.
HEUC
This charge captures any differences between total amounts received from retailers and total amounts paid to generators for energy, reserve and regulation products. While the HEUC is called a charge, it is typically a return to retailers of the revenue arising from the sale of energy to cover transmission losses.
Load
The amount of electrical power required by a consumer.
Market Power
The ability of a seller/buyer, either individually or in collaboration with other sellers/buyers, to influence the price of electricity in the market.
Market Support Services (MSS)
These are services such as the buying of electricity indirectly from the wholesale electricity market for contestable consumers at spot prices, reading meters, managing meter data, administering transfer processes, and providing electricity to non-contestable consumers at regulated tariffs.
Market Support Services (MSS) Charges
Charges to cover the costs of market support services, such as transfer processing fees, meter reading fees, etc.
Market Support Services Licensee (MSSL)
The company that is licensed to provide market support services SP Services Ltd is the MSSL.
MEUC
This is a usage-based charge computed using loss-adjusted data. This charge is for the recovery of the cost incurred by the System Operator to procure supplementary services from the market to ensure the security and reliability of the electricity system. For example, Black Start Service is procured to re-start the system during a total blackout.
Non-Contestable Consumers
Consumers who are required to buy electricity from the MSSL at regulated tariffs.
Off-Peak Period and Peak Period
Period of time when there is relatively low demand for electricity. Period of time when there is relatively high demand for electricity.
PSO Admin Charge
PSO (Power System Operator) is responsible for the security and reliability of the transmission system. All customers pay a usage-based fee for the provision of this service.
Regulated Tariffs
Electricity prices for non-contestable consumers. Regulated tariffs are approved by the regulator.
Regulator
The statutory body that regulates the electricity industry in Singapore. The Energy Market Authority is the regulator.
Spot Prices
Prices determined half hourly on the wholesale market depending on demand and supply. Spot prices are not regulated or set by the regulator.
Terms of Contract/Contract Terms
The terms set out in the contract between an electricity retailer and a contestable consumer for the purchase of electricity, such as the contract duration, payment terms, mode of payment and contract termination provision etc.
Transmission
The process of delivering electricity from generation plants to consumers’ premises over the transmission system.
Transmission Charges
The charges for the use of the transmission system to deliver electricity to consumers’ premises. Transmission charges are regulated by the regulator.
Transmission Licensee
The company that is licensed to own the electricity transmission system and deliver electricity from generation plants to consumers’ premises. SP PowerAssets Ltd (SPPA) is the Transmission Licensee. SP PowerGrid Ltd (SPPG) is the agent appointed by SPPA to maintain and operate the electricity transmission system.
USEP
Price paid by consumers for electricity generated and supplied for consumption.
Vesting Contracts
Bilateral contracts between generation companies and MSSL for the production and sale of a specified quantity of electricity at a specified price (known as the “vesting price”). Vesting contracts are imposed by the regulator to curb market power of generation companies.
Vesting Debit/Credit
Reflected in MSSL’s bill to contestable consumers buying electricity from the wholesale market through MSSL. It is the difference between spot prices and vesting price on the demand that is covered by vesting contract.
Wholesale Electricity Market
An electricity market where generation companies compete to sell electricity.
Wholesale Electricity Price (WEP)
When buying electricity directly or indirectly from the National Electricity Market of Singapore (NEMS), one’s electricity price comprises of 6 components with USEP being by far the largest of the 6 components. The other components are the Hourly Energy Uplift Charge (HEUC), the Monthly Energy Uplift Charge (MEUC), the Allocated Regulation Price (AFP), PSO admin fees and EMC admin fees.
