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Wholesale Electricity Price
You can choose to buy electricity from the wholesale electricity market via SP Group. In doing so, you will be paying for electricity at prices that vary every half-hour, depending on the demand and supply situation in the market. This is also known as the Wholesale Electricity Price (WEP).
The WEP would typically rise due to reasons such as an increase in electricity demand and/or an outage of power generating units. Consumers can refer to the chart below which shows the lowest and highest half-hourly wholesale electricity prices* in 2019. For example, in the month of February 2019, the half-hourly prices* ranged between 14.32 cents/kWh and 155.82 cents/kWh.
*Source: Energy Market Authority. Figures provide an equivalent charge per kWh under a WEP plan. Actual calculation of charges will be presented in detail in customers’ bills. Figures exclude Meter Reading and Data Management Charge ($2.18 per meter) and Vesting Debit/Credit (if applicable) for the quarter.
You are advised to consider the WEP plan carefully, as it is a riskier option, given the uncertainty in price due to fluctuations. Switching to buy electricity from an electricity retailer under a Fixed Price or Discount Off the Regulated Tariff price plan provides more price certainty than buying electricity at the WEP. You can start by comparing the standard price plans offered by the electricity retailers using the Price Comparison Tool.
If you still wish to buy electricity from SP Group at the wholesale electricity price, please read through SP Group’s Fact Sheet and Consumer Advisory which summarises the key contractual terms before doing so.