1. What do I need to do if I decide to buy electricity from an electricity retailer instead of SP Services Limited (SPS)?
Upon finalising the commercial details with the retailer of your choice, your electricity retailer will submit a transfer request to the Market Support Services Licensee on your behalf. SPS will need at least one business day to process the transfer.
2. What do I need to do if I want to switch from one retailer to another?
Your new retailer will be able to advise you accordingly.
3. What is the difference between buying electricity from the wholesale market and an electricity retailer?
Electricity retailers can provide packages with different price plans and services to suit differing usage patterns. Apart from the price, you should consider how and when you will be billed, whether a security deposit is required, as well as the length of contract and penalties for early termination, if any.
If you buy from the wholesale electricity market, you will pay for electricity at prices that vary every half-hour. This option is riskier as you will face price fluctuations.